The Itanium debacle has Mark Hurd and Larry Ellison in a spite filled rampage against HP.
http://www.zdnet.co.uk/blogs/mapping-babel-10017967/itaniums-not-dead-say-parents-intel-and-hp-10022057/
Showing posts with label Mark Hurd. Show all posts
Showing posts with label Mark Hurd. Show all posts
Wednesday, May 4, 2011
Friday, September 17, 2010
HP Prayer for Relief against ex CEO
I had never heard of this quaint legal terminology before, found in the civil complaint against former CEO Mark Hurd. The irony suggested by the wording is that the HP board is in desperate straights over the escalating Hurd debacle and has resorted to worshiping the Palo Alto money gods.
Having just paid about 2 million dollars per employee for ArcSight, I don't think the powers that preside over Silicon Valley's indulgences will consider this prayer happily. Rather a reprimand for stupidity is probably in order.
Having just paid about 2 million dollars per employee for ArcSight, I don't think the powers that preside over Silicon Valley's indulgences will consider this prayer happily. Rather a reprimand for stupidity is probably in order.
Not only did Hurd fleece the HP board of 25 million to avoid further scandal, he delivered a follow up scandal within days, seemingly out of sheer spite, as he walked straight into the waiting wallet of Larry Ellison spoiling for a fight against his biggest competitor.
Maybe prayer is the best strategy right now after all.
Tuesday, September 14, 2010
HP Acquisition Rampage continues - ArcSight in the sights
HPs seemingly monopoly-like buying spree continues with ArcSight being the next billion dollar purchase.
Obviously because of the embarassing bidding war with Dell over 3PAR that I commented on in an earlier post, HP was keeping a low profile on the ArcSight acquisition. It wasn't even announced on the company intranet, I had to dig it out from the public internet site after reading it in the paper. Perhaps given that this is "cybersecurity, cyberdefence and cyberwarfare company", it was thought a little cloak and dagger understatement was in order, although it appears from the stock chart, that someone got a whiff of the transaction in late August based on the huge one day jump in stock price prior to the official announcement today. Oh to be part of the Silicon Valley rumor mill...
You have to wonder what the market thinks of these aquisition. HPs share price has fluculated quite substantially for a big tech stock in the last months. Much of this was due to the volatile swings in the overall market since May, but the all knowing stock market is supposed to price in all known pricing factors such as multi-billion dollar acquisitions.
Maybe I should start trading these swings (see my Daily Income for Life blog). Its probable that I would make more money trading HP stock that I will in HP bonuses this year, given how much cash has been flying out the door to the moneyed mansions of Los Gatos, and not to mention the embarassing pay off of Mark Hurd. Oh, sorry Peter, we just spent our employee bonus pool on paying a huge premium for 3PAR, ArcSight, legal bills fighting our ex-CEO and trips to Hawaii for our Sales Team. Because, umm, our executive team gets their bonus based on how much market share we grow, and well this pile of cash is not growing market share unless we buy market share with it right?
Black humor aside, like 3PAR, HPs ArcSight acquisition does make commercial lsense. It gives HP some valuable intellectual property in the area of cyberthreft, cyberwarfare, and cyberespionage. Maybe it could even be used to keep tabs of the expense accounts of future CEOs? I think $1.2 billion is cheap to make sure the next one hired is honest. The HP board has already been through a spying scandal, so
Hang on, a guy in a trench coat and hat has just walked into my cube... later.
Obviously because of the embarassing bidding war with Dell over 3PAR that I commented on in an earlier post, HP was keeping a low profile on the ArcSight acquisition. It wasn't even announced on the company intranet, I had to dig it out from the public internet site after reading it in the paper. Perhaps given that this is "cybersecurity, cyberdefence and cyberwarfare company", it was thought a little cloak and dagger understatement was in order, although it appears from the stock chart, that someone got a whiff of the transaction in late August based on the huge one day jump in stock price prior to the official announcement today. Oh to be part of the Silicon Valley rumor mill...
Maybe I should start trading these swings (see my Daily Income for Life blog). Its probable that I would make more money trading HP stock that I will in HP bonuses this year, given how much cash has been flying out the door to the moneyed mansions of Los Gatos, and not to mention the embarassing pay off of Mark Hurd. Oh, sorry Peter, we just spent our employee bonus pool on paying a huge premium for 3PAR, ArcSight, legal bills fighting our ex-CEO and trips to Hawaii for our Sales Team. Because, umm, our executive team gets their bonus based on how much market share we grow, and well this pile of cash is not growing market share unless we buy market share with it right?
Black humor aside, like 3PAR, HPs ArcSight acquisition does make commercial lsense. It gives HP some valuable intellectual property in the area of cyberthreft, cyberwarfare, and cyberespionage. Maybe it could even be used to keep tabs of the expense accounts of future CEOs? I think $1.2 billion is cheap to make sure the next one hired is honest. The HP board has already been through a spying scandal, so
Hang on, a guy in a trench coat and hat has just walked into my cube... later.
Wednesday, September 1, 2010
Oops..even less complimentary commentary about HPs disgraced CEO
From Newsweek, further confirmation that public opinion is flowing strongly against disgraced HP CEO Mark Hurd.
Saturday, August 7, 2010
Oh dear oh dear. We will not miss you Mark.
Our dear leader leaves in a scandal worthy of his karmic debt to 40,000 laid off employees.
You have to admit, a salary of 30 million while you lay of that many people reeks of a certain lack of integrity. That is without a doubt how Mr Hurd was perceived by myself and many other HP colleagues.
So somehow it doesn't surprise me that he's been caught with his hands in the HP till, and by all reports, all over the executive event greeter he hired to polish HPs image with fellow overpaid CEOs.
Mark, we look forward to your replacement. May he or she be a better man or woman that you have proved to be.
Good luck with your undeserved millions, and repairing your conscience.
You have to admit, a salary of 30 million while you lay of that many people reeks of a certain lack of integrity. That is without a doubt how Mr Hurd was perceived by myself and many other HP colleagues.
So somehow it doesn't surprise me that he's been caught with his hands in the HP till, and by all reports, all over the executive event greeter he hired to polish HPs image with fellow overpaid CEOs.
Mark, we look forward to your replacement. May he or she be a better man or woman that you have proved to be.
Good luck with your undeserved millions, and repairing your conscience.
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