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April 07, 2005

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Listed below are links to weblogs that reference HP's Contemptuous Board:

» If you could be HP's CEO for a day... from Between the Lines
In his relatively new gig (Grassroots Journalism), Dan Gillmor is developing a knack for calling out over-the-top excessiveness when it's begging to be called out. It's the main reason I follow Gillmor's blog. As the master aggregator and editori... [Read More]

» $58,000 Every Day from PunditGuy
That's how much Hewlett-Packard's board agreed to pay INTERIM Chief Financial Officer Robert Wayman for serving in that position from February 8th to April 1st, when HP hired new Chief Mark Hurd. That's $3 million dollars for 52 days of work. Oh, and t... [Read More]

» H-P's Board Still Living in an Alternate Universe from Piece O' Freedom
I came across this entry in Dan Gillmor's excellent grassroots journalism blog. It seems Hewlett-Packard's board of directors, after giving Carly Fiorina a ludicrously large severance payment (which I wrote about here), is at it again. They've paid int... [Read More]

Comments

Larry

As a long term HP exec and CFO, Wayman undoubtedly knows where lots of skeletons are buried. Like the Medal of Freedom given to George Tenet, this bonus will help keep those skeletons interred.

/pd

r u a stakeholder /shareholder Dan ??

Under what personal mandate /desginate do you think that its a "Contemptuous Board" ??

All I think about is my P/E ratio.. what about you ??

Joe Buck

Well, Mr. /pd, $3 million in unnecessary dollars just came out of the E side of your equation. HP could have gotten away with a bonus of 1/10 of that and still would have looked generous.

Note that this was on top of his regular salary as CFO, and I won't be suprised to find out that he got extra options as well.

But never you fear: Arnold is trying to kill the California public employee pensions, because the pension managers are some of the strongest and most powerful opponents of excessive CEO compensation, and through their stock ownership actually have some power to do something about it.

Bob

Dan, my friend

Blame the Tax Code: $'s to him are deductible. $'s to the stockholders are cash outta the corporate treasury.

That doesn't make it any the less outrageous: It just discusses where the Big Gummint puts the carrots.

Dan Gillmor

Bob, thanks, but I'll keep the blame where it belongs: on the craven board members.

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