Winning isn't everything

What have Glenn Hoddle and Carly Fiorina got in common?

Carly Fiorina probably doesn't know who Glenn Hoddle is, nor he she. But at one time, Hewlett-Packard (HP) was the shirt sponsor for Spurs.

This relationship probably still exists on a smaller scale, as I remember seeing a few HP banners at White Hart Lane when I watched the mighty Tractor Boys plough up Tottenham earlier this season.

Later on it hit me. I wondered how many people realise how similar Glenn Hoddle and Carly Fiorina's career paths have been of late. Both Carly and Glenn are top dogs at their companies, and both were seen as saviours when taking up their positions.

But after the initial honeymoon period, both have suffered difficulties while trying to secure the major prizes. After showing initial promise, Spurs have failed in the final of the Worthington Cup and the last eight of the FA Cup.

Carly's HP faltered in its acquisition of PwC's consulting arm, and lost out in its battle for Comdisco assets, again after showing good promise.

For Hoddle, the last chance for Europe and job security is perhaps the Intertoto cup; for Fiorina and HP, Wednesday's vote on the Compaq merger is hers.

This is certainly the view of anti-merger proponent Walter Hewlett, who told investors last week that HP would need a new chief executive if the planned merger with Compaq failed. The deal will probably go through, and Spurs may yet make Europe, leaving both Fiorina and Hoddle intact.

But I can't help thinking the deal itself is a mistake and will hurt the channel that has made both companies what they are today. With credit reduction and a tightening of terms and conditions, as well as a reduction in co-op marketing, HP and Compaq resellers may be feeling uneasy.

Add to the mix HP's noise over direct sales and you have a big bath of channel disquiet.