RE: What ever happened to... DEC?

[Bob & Cecelia <n3lym@amsat.org>]

Yes indeed... of course, the Digital of PDP and VAXen glory really died 
when the BOD booted Ken Olsen out. I hear when Ken left, there was a 
big going away party in one of the Cafeterias up north. The crowd that 
showed up to greet him farewell was so huge that they had to move it 
outside because there was concern about the floor caving in.

Somehow, I don't think Palmer will get that kind of send off. He made 
lots of enemies among the common DECie. I know he had to do it (the 
layoffs, selloffs, etc.), but I must admit I'm glad to see he's 
leaving. Now we can leave the Palmer era behind and move onward.

What will the future hold? I don't know, and that's a little weird, 
because I usually have a feeling for where things are going. But my 
crystal ball is foggy. It's all up to Eckhard now.

After leaving Delta, it was my dream to have a job at DEC. Who would 
have though DEC would get bought by a company that didn't even exist 
until 1981. What if somebody told you then that Compaq, the company 
that makes that suitcase-sized "portable" PC clone, would someday buy 
DEC? Right!

Regards for now...

Bob

PS, anybody know how to spell Presario?


-----Original Message-----
From:	Aron Insinga [SMTP:ainsinga@infomation.com]
Sent:	Wednesday, June 10, 1998 12:52 PM
To:	deltoids@mcws.net
Subject:	What ever happened to... DEC?

...
  Palmer to leave Digital

  CEO departing computer maker in
  merger-related management shakeup

  June 10, 1998: 8:27 a.m. ET

  NEW YORK (CNNfn) - Robert Palmer, the chief
  operating officer of Digital Equipment Corp.,
  will leave the company as a result of its
  pending merger with Compaq Computer Corp.,
  CNNfn has learned.

  The $9.6 billion merger between the two
  computer companies, first announced in January,
  is all but finalized. A Digital shareholders
  meeting to vote on the deal is scheduled for
  June 11.

  As a consequence of the merger, a new top
  management team will be installed, according
  to sources. It will include Compaq's Eckhard
  Pfeiffer as chairman and CEO, along with
  Digital's Enrico Pesatori and Compaq's John
  Rose as upper-rung managers. Compaq's Earl
  Mason likely will remain as chief financial
  officer of the combined company.

  Compaq said its new management structure will
  be officially announced Friday. Under terms of
  the merger agreement, Digital shareholders will
  get $30 cash and 0.945 share of Compaq stock for
  each Digital share. The merger will result in
  restructuring charges for the combined entity of
  $1.5 billion to $2 billion, according to proxy
  materials filed with the Securities and Exchange
  Commission. About 15,000 jobs are expected to be
  cut as a result of the merger.

  According to the proxy statement, Palmer will
  be entitled to a cash severance payment of
  $6.45 million for leaving the company.
  Palmer, 57, became president, chief executive
  officer and a member of the board of directors
  of Digital in 1992. He was elected chairman in
  May 1995.

  Prior to joining Digital in 1985, Palmer
  served as executive vice president of
  semiconductor operations at United
  Technologies Corp.

  Digital stock (DEC) climbed 15/16 to 57-3/4
  Tuesday. Compaq shares (CPQ) rose 1 to
  29-3/4.