EMC unveils IP storage products

Data storage giant EMC introduced on Monday storage devices that can connect to computers using commonplace Internet Protocol networks. EMC said its new disk storage products with support for the Internet small computer system interface, or iSCSI, will allow customers to put together lower-cost networked storage systems. EMC said its Clariion disk arrays with iSCSI support begin at $5,995. Also on Monday, EMC partner Dell announced a disk array with iSCSI technology called the Dell/EMC AX100i, starting at $4,999. Up to now, many networked storage systems have employed the Fiber Channel interface, using specialized networking equipment. Networked storage is an alternative to directly attaching disks to server computers and is seen as more efficient.

iSCSI has taken off more slowly than expected. But it has gotten a push in recent years from vendors including Microsoft. Other companies offering iSCSI storage products include Network Appliance and IBM.

Joe Tucci, EMC's CEO should be fired.

In business school, I was taught that the objective of a publicly held corporation was to maximize shareholder wealth. In February, 2001, I purchased shares of EMC for $54 each. The stock has recently and over the last three years at least, traded in the $12-$15 range thereby minimizing my wealth. The company doesn't even pay dividend and its promised stock buy-back scheme has been fruitless for shareholders. Moreover, EMC is erroneously executing an acquisitions strategy for growth just as WorldCom mistakenly did. I don't need to remind your where WCOM is today. Instead of buying more companies, EMC should declare a special dividend to shareholders as compensation for losses and partner with other leading technology companies. It's apparent that the company has been mismanaged and a change is necessary.

Accordingly, the board of EMC, if it has shareholder's best interest in mind as it should, should move to fire Joe Tucci, EMC's CEO. Just as the board of Hewlett-Packard had the balls to fire chief executive Carleton S. Fiorina, EMC's board is obligated to sack its CEO. Skeptics should simply take a gander at EMC's five year stock chart. It ain't pretty.

Thanks for reading my rant.