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HP Board Sued Over Hurd Departure
Stoobalou writes "A shareholding company launched a lawsuit against Hewlett-Packard's board of directors earlier this week, claiming they bungled their fiduciary duties over the departure of CEO Mark Hurd. 'The HP board put shareholders' finances at risk by not telling them about the sexual harassment inquiry, and then later rewarded Hurd with an estimated $40 million severance package, the suit said. The board also failed to adequately police insider trading by HP executives, allowing Hurd and chief financial officer Cathie Lesjak to sell off HP stock in the midst of the inquiry, according to the suit, which was filed in California Superior Court.'"
HP is also facing increased scrutiny from the unrelated bribery probe that began earlier this year when their Moscow offices were raided.
Calm down HP shareholders. HP sucks because HP sucks. They've come a long way from the days when they made the best adding machines (and laser printers) in the world. Too bad most of it has been downhill. I just downloaded a 400MB file as, apparently, a driver for my printer. Then I found out that honestly it was 400MB of bloat and god knows what other hidden "features" that I "opted into" when I downloaded it. Good thing Microsoft had a copy of the real driver available through Windows Update.
HP sucks, and Hurd's departure has nothing to do with it.
Seven puppies were harmed during the making of this post.
this is insane. totally insane amount of money. none of us here, likely, will ever see even 1/100 of that amount of money on our lifetimes.
keep giving CEO's those huge salaries even after they have done wrong and you'll keep attracting the WRONG PEOPLE to the position.
pretty simple. want honest ceo's? stop giving them a theif's booty for a paycheck. if you make the job just a bit more than what the rest of us make, maybe we'll see some honest people taking those jobs for a change.
(never met a ceo that I didn't have to count my hands after I shook his.)
--
"It is now safe to switch off your computer."
Just replace Hurd with Linux!!
That's one business process they'll never outsource to India.
For the last time, it's not HP/Hurd.
It's GNU/HP/Hurd.
Yes, but being a major shareholder is a legitimate position from which to have a say in how a company conducts itself. Maybe the problem is that governments should be prohibited from owning interests in public and private corporations.
American Third Position
Finally, a real choice!
They voted unanimously? That's the way I hurd it went down.
"Waste not one watt!" - CZ
I almost choked when I red the headline .. "Someone was actualy using Hurd???"
I am Slashdot. Are you Slashdot as well?
Interesting thought. What, then, should the government do with various savings accounts such as pensions? (Think in terms of smaller municipal or state retirement management agencies, not Federal, so we don't end up in an argument about the federal reserve, or national debt). In order to earn a return, the money must be "doing" something. Should we literally stack up $100 bills and store them in a warehouse? Or as an alternative, perhaps treasury bonds would be the other non-corporate option?
Yeah. And Bob got fired for using the company email for personal use. This isn't the criminal system where crimes have specific elements that must be met, leading to a specific range of senteces. If a corporation wants to fire you, they fire you, then go looking for a way to justify it.
SCO.