Re: FW: Avnet/Compaq Decision at Intuit

Mr. Enloe -

Ken Lay asked me to let you know that he doesn't know Stephen Bennett.

Rosalee

"Enloe, Ted" <Ted.Enloe@COMPAQ.com< on 05/24/2000 08:18:07 AM
To: "Benjamin M. Rosen (E-mail)" <ben@brosen.com<, "Chris A. Davis (E-mail)"
<chris.davis@gulfaero.com<, "Frank P. Doyle (E-mail)"
<Frank.Doyle@COMPAQ.com<, "George H. Heilmeier (E-mail)" <ghh@telcordia.com<,
"Judith L. Craven (E-mail)" <lynnj@iname.com<, "Kenneth L. Lay (E-mail)"
<klay@enron.com<, "Kenneth Roman (E-mail)" <kenroman@worldnet.att.net<,
"Lawrence T. Babbio Jr. (E-mail)" <babbio@BellAtlantic.com<, "Lucille S.
Salhany (E-mail)" <lucie@jhmedia.com<, "Peter N. Larson (E-mail)"
<hkiss@bruncorp.com<, "Thomas J. Perkins (E-mail)" <kjewett@kpcb.com<
cc: "Fusco, David L." <David.Fusco@COMPAQ.com<
Subject: FW: Avnet/Compaq Decision at Intuit

If any of you know Stephen Bennett, would you please contact David Fusco to
make a call.

Thanks, ted

< -----Original Message-----
< From: Fusco, David L.
< Sent: Wednesday, May 24, 2000 12:39 AM
< To: Enloe, Ted
< Subject: FW: Avnet/Compaq Decision at Intuit
< Importance: High
<
< Hi Ted. We're in the final stages of closing a significant High
< Availability opportunity at Intuit. Our San Diego sales team has done an
< outstanding job to position Compaq as their vendor of choice against Sun,
< HP and EMC. Please refer to the email below for more specific details on
< Intuit's decision.
<
< Sometime next week Intuit's CIO, Jennifer Hall, will be presenting their
< formal recommendation to Stephen Bennett, President, CEO. We've been told
< that he's friends with a Compaq board member. I need your help in
< identifying that person. Once identified, we'd like them to contact
< Stephen ASAP in order to communicate the following:
<
< Compaq's senior management, including the Board of Directors, is aware of
< the Intuit opportunity. Compaq's committed, and determined, to meet and
< exceed their expectations.
<
< The Intuit sales team, headed by Bob Oakes, will prepare a briefing
< document for our board member to use. Please advise ASAP. Thanks for
< your help and support on this!
<
< Dave Fusco
< Area Director, Southern California
< Enterprise Business Unit
< 949-462-9762 W
< 949-462-9763 F
< 714-394-9009 M
< 800-842-2460 P
< david.fusco@compaq.com
<
< Intuit Names Stephen Bennett As President, CEO
< Senior Financial Services Executive Brings Broad Experience Growing
< Diverse Businesses
< Mountain View, Calif. -- Jan. 24, 2000 -- Intuit Inc. (NASDAQ: INTU
< <http://www.quicken.com/investments/quotes/?symbol=INTU<;) announced today
< that its board of directors has selected Stephen M. Bennett as president
< and chief executive officer. Bennett assumes his responsibilities
< immediately, succeeding Bill Campbell, who had been acting chief executive
< since September. Campbell is retiring from day-to-day responsibilities but
< will remain chairman of the board of directors. Bennett was also named to
< the board.
< Bennett, 45, was most recently an executive vice president and member of
< the Office of the CEO at GE Capital, the financial services subsidiary of
< General Electric Corp. GE Capital is the world leader in numerous
< financial industries, including private label credit cards, commercial
< equipment leasing and vendor finance. With $330 billion in assets, GE
< Capital provides 42% of General Electric's overall profits and is among
< the world's largest non-banking financial institutions.
< "Steve is an outstanding leader from a company renowned for strong
< leadership," said Campbell. "His experience is tailor-made to fit Intuit's
< needs now and in the future. We wanted someone with service industry
< knowledge, who had led large, complex organizations and with proven
< ability to produce fast growth. Steve is the ideal choice to take Intuit
< to the multi-billion dollar level."
< "Intuit is the leader in e-finance. Quicken.com is already the leader in
< online tax preparation and online mortgage origination," said Bennett, who
< will relocate from Connecticut to the Bay Area. "I'm excited to have the
< opportunity to continue developing services for the Internet and take
< Intuit's industry leadership to new heights."
< During his GE career, Bennett held significant leadership positions in six
< different businesses within the company, spanning both manufacturing and
< financial services. In his most recent position, he oversaw a portfolio of
< five different companies whose more than 20,000 employees last year
< generated $15 billion in annual volume. Prior to that, as president and
< CEO of GE Capital e-Business, he pioneered the company's efforts to
< leverage the Internet across GE Capital's worldwide portfolio of
< businesses.
< Previously he delivered significant growth as the president and CEO of GE
< Capital's more than 4,000-employee Vendor Financial Services business.
< Under his leadership, assets grew to more than $13 billion from $5 billion
< and net income increased to $200 million from $80 million in four years.
< Intuit board member John Doerr said he was impressed by Bennett's broad
< base of experience. "Steve knows business-to-business as well as
< business-to-consumer. He knows service businesses. And he gets the Net.
< Intuit's product leadership and Steve's ability to grow businesses are an
< ideal match for our future."
< Bennett added, "Intuit's management team is strong, stable and experienced
< and works well together," he said. "This is one of the few management
< teams to successfully and rapidly transform a company to the Net. I'm glad
< to have the opportunity to lead Intuit's continued growth and expansion."
< Scott Cook, Intuit founder and chairman of its executive committee, said,
< "Steve shares Intuit's values. He's a straightforward, no-nonsense,
< results-driven executive who cares deeply about people. His
< values-oriented leadership style energizes organizations to great
< achievement, and I look forward to working with him."
<
<
< -----Original Message-----
< From: Marino, Richard [mailto:Richard_Marino@intuit.com]
< Sent: Monday, April 24, 2000 8:01 PM
< To: Oakes, Bob; 'Janice.Farnow@avnet.com'; Velijanian, Fred
< Cc: Bell, Lance; Pan, Andrew
< Subject: High Availability Server Evaluation Results
<
<
< We first want to express our appreciation to both HP and Compaq for
< their
< efforts in helping make our evaluation project a sucess. This did
< not
< surprise us, as you have both been strong partners with us up to
< now.
<
< As we indicated at the beginning, this evaluation was specifically
< aimed at
< how well each vendor performed at helping us install, develop, test
< and
< engineer an effective Oracle HA solution. The ability to work with
< our
< Intuit team and the strength of the vendors support were critical
< factors.
< Certainly the difficultly of data migration impacted this project,
< limited
< our performance testing, and remains of great concern to us in
< considering
< any migration in the future.
<
< We are taking the opportunity to provide you with our honest
< evaluation in
< the hopes that this information may be of value to you. We do
< however
< consider this information confidential and ask that you do not share
< it
< outside of your organization. In addition we are providing it with
< the
< understanding that you will not use the details contained herein to
< criticize each other in an effort to promote your own position.
<
< Here is a summary of our evaluation:
<
< Sun Clusters - unacceptable, lacking features and EMC disk support
< Sun/Veritas Clusters - acceptable, but uncertain support and future
< HP Clusters - very good, strong features, strong product roadmap,
< very good
< technical support, marginal sales support, variable support during
< evaluation
< Compaq - very good, stronger features, strong product roadmap,
< outstanding
< support, higher risk
<
< It should be understood, that there has not been a final decision
< and
< management has not approved a migration plan.
<
< We recommended Compaq, provided that we would be able to reduce the
< risk
< factor associated with the recent release of their current software
< and
< hardware architectures.
<
< Management has requested that some further analysis be done (which
< were not
< in the scope of this project) including cost/benefit analysis from
< our
< customer's viewpoint and conversion cost estimates. We believe we
< have all
< the vendor information necessary to complete this analysis though
< they may
< be a few pricing issues that will need clarification.
<
< We will be in contact with each vendor regarding the disposition of
< the
< loaned equipment we have on site from each vendor.
<
< We again thank you for your efforts. You will both remain key
< partners of
< Intuit in the forseeable future and we hope to see our relationship,
< whatever the final determination by management concerning this
< project, to
< continue to improve.
<
< Richard Marino
< Lance Bell
<