Mark Hurd resigns



#14

Interesting article:

Mark Hurd, CEO of HP, resigns

Edited: 6 Aug 2010, 4:58 p.m.


#15

I am preparing my resume.

TW


#16

Forget it Tim, they're ready for a woman now (and again) but one who will have the calculator division at the forefront of the company, and one that has no political ambitions. I'm packing to move to CA now....


#17

Katie,

I think the new post for HP's CEO is between yourself and Richard Nelson. It's about time a calculator-passionate person leads HP ... and brings back the 15C AND the 41C.

:-)

Namir

#18

I heard that he was caught using a TI calculator. ;-)


John

#19

The article mentioned "improper financial reporting"... I wonder if that was done using a non-HP calculator? Accuracy issues, perhaps? ;-)

Tim, any idea of what the new CEO, Cathie Lesjak, thinks of the calculator division? It said she's been around for 24 years, so she hopefully remembers the heyday of that end of the business.


#20

Um. . . yeah. . . let me just pop over and ask her.

Seriously, I have no more information, and probably less then people who watched/read about the whole thing.

I would be ok with Katie taking over though. :-)
TW


#21

She's the CFO - send her a Print Calc 100 with compliments. :-)

#22

Quote:
Um. . . yeah. . . let me just pop over and ask her.

Have you tried?
#23

Quote:
Hurd said it was a "painful decision" to leave but acknowledged there were "instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP." He will get a $12.2 million severance payment.

If I could get 12.2 mil for not working, I would resign, too.

Painful? Now he can spend all the time he wants in the "no affair and no intimate sexual relationship".


#24

Man, he's getting hosed.

Only 12.2 million will barely buy him a 100 footer. That's in the bush leagues. And he needs to maintain it and use it every year--that's about 1 million.

I feel sorry for the bastard. He's going to have to settle for a 50 footer and still have to watch his pennies to keep her floating.


#25

bill; no kidding. it's a good thing that the ruling/owning class take care of their own, or it could have been even "worse" for him.




i think that the lesson here, that not enough people will get is: give someone power and he or she will abuse it. a difference between a petty tyrant and a hitler can be measured in-- how many people have abdicated their personal responsibility to him (or again, her).


what i wonder is; how many people did he step on (to cover up his tracks or just for fun) on his way up to the "golden parachute jump"?


#26

That is so true.

My favorite political show is the Black Adder, in the period of Richard the "IV". Hilarious and oh-so-insightful about power. which is made that much better by the hilarious British Low Comedic effect.

Kerry is just yet another sleazy politician.

I had to laff when Kennedy's spot went to an irreverent young Republican and the whole Liberal pres was "shocked" at it. I was just cracking up like a crazed hyena in a true Mogambo laffing fit, because I knew that at least part of Massachusetts had had enough!

Oh, but don't take this the wrong way. I could have written this about some Conservative SOB but since Kerry is Liberal I had to go that direction...

Edited: 7 Aug 2010, 10:40 p.m.

#27

But I'd disagree with the ruling/owning "class' analysis. There really isn't a class of those two, because both money, and power, move too fast. Most millionaires are self-made, so they aren't a "class" because they came from something else. And with the exception of the Kennedys and the Bushes, most sleazy bastard politicians are new to the fold, in their own lifetime. That's not to say there isn't any wagon circling--there is! But it really isn't distinguished as an entrenched "class." And this is an important distinction to make, if the People are to have any way to control their rulers...


#28

Bill;
I agree that most politicians, whether democrat or republican, are sleazy - or worse. Exceptions like Ron Paul and Jimmy Carter are rare on the ground.

I think that there are interests with overlapping goals. Look at the amount of "people" in politics and government that are in the oil industry, Masons, Bilderburg Group and Council on Foreign Relations, among others. To me, it is apparent that those who are supposed to be representing you, me and future generations are really the representing the transnational corporations and the military industrial complex.


So yes; I also agree that mostly these are not multi-generational dynasties, but they function like one. Instead of every time there being a Jr. or "the III" - theres a succession of asserts that are willing to see us with gutted pensions and our kids literally gutted in some war for oil or raw materials. With Democrats like Feinstein, we don't even need more Republicans.

"if the People are to have any way to control their rulers... " i think voters in the US & GB (and the rest of the world which can vote too) need to stop voting for rich kids, the well connected, and actors. We could root out the vicious next.


As a (middle) class; we need to start looking for common interest, and looking out for those interests. But i'm not holding my breath on that.


To bring this back on topic........and we need to buy hp RPN calculators that are made in the free world too.


#29

I agree! Very good point about the function being equivalent to a 'bloc'.

As for the last point, I totally agree!

#30

Quote:
...and we need to buy hp RPN calculators that are made in the free world too.

Exactly. That's why the newest one I own was probably made in 1993.

If Singapore counts as "free."

#31

Bill:

You wrote:

Quote:
I feel sorry for the bastard. He's going to have to settle for a 50 footer and still have to watch his pennies to keep her floating.

Don't feel too sorry and don't count on him settling for a 50 footer. One financial report says that as of May 20 he owned 396,374 shares. Even at Friday's closing price of $41.99 that's another $16.6 million. I suppose that we could feel sorry for him because the change of -$4.38 on Friday cost him over $1.7 million.

Investors really don't care about the $12.2 million severance package in a financial sense. Look at it this way. There about 2.33 billion shares outstanding. The $12.2 million amounts to about $0.0052 per share. Suppose that I had an investment portfolio of a million dollars (I don't!) and I had it all invested in HP stock (Again, I don't and I wouldn't!) then at the opening price on Friday I would have owned about 21,500 shares. The $12.2 million severance would be equivalent to a little over a hundred dollars.

Investors do care about the nearly ten percent drop in the stock price and the damage to HP's credibility.


Palmer


#32

Soft Porn Actress Jody Fischer, who's credits include such landmarks as Sheer Passion, Body of Influence, & Intimate Obsession was identified today as the object of Mark Hurd's affections. Here's a sample of her parts: http://www.youtube.com/watch?v=h9P85hnT2RQ&feature=player_embedded

I don't think that she was at the HP shindig that i got to go to. The women who put that on were real pretty, but not porny at all.

#33

An AP story says that Hurd could leave HP with $40 million made up of " ... $12.2 million in severance, plus stock and options that could bring the value of the package to more than $40 million ..."

A 100 foot boat may not be a problem after all.


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