In the conference call following the shocking ousting of HP CEO Mark Hurd, it was revealed that the real reason he was forced out (can we just say “fired,” please?) was because he filed false expense reports to hide the affair he was having.
Here’s the description in the NYT:
Michael Holston, executive vice president and general counsel, said during a conference call that the violation [that Hurd was fired for] involved expense reports, though he would not discuss the amount of money involved. Mr. Holston described Mr. Hurd’s relationship with the contractor as “close” and “personal.” The woman, he said, had been hired by the office of the chief executive. He also said the inaccurate expense reports were intended to conceal the personal relationship, adding that it showed “a profound lack of judgment.”
We have also, of course, learned that Mark Hurd will be getting a $50 million severance payout ($12 million in cash, plus stock). This is on top of the $10 billion of market value that HP shareholders have lost so far as a result of his sudden departure.
Another corporate scumbag getting away with millions. When is this going to stop?
Found by Cinàedh.
Answering the headline:
…because, in relative terms, this is like your lying on your expense report by about twenty bucks?
Did I get it right?
But, in absolute terms he stole $20k.
But, it seems that moral relativism is only to be applied to the rich. As long as kids keep getting tossed in jail for stealing a candy bar, or smoking a joint, such reasoning betrays an amoral, depraved mind.
#22 No, it means that it’s so little it sounds more like a mistake than the guy actually stealing something.
Your post will be labeled as stupid relativism though.
Accidentally flubbing expense reports in such a way that they incidentally cover up for all of the honeys you are fucking would be one hell of a mistake. Color me skeptical.
Oh, and if you stole/mistakenly misplaced 20k from your work, would you get a bonus or a pair of handcuffs?
Because it was in the contract he and HP negotiated. Duh.
Why should idiot athletes get millions and millions of dollars? Because some company will pay it. Duh.
Why does anybody get large paychecks? Because someone is willing to pay it. Duh.
Stop whining.
How much money are we talking about here? Expense reports are almost never accurate. Being off by a grand or two wouldn’t be unexpected for someone like a CEO with loads of travel expenses.
Sounds to me like somebody wanted to throw him under the bus. If this was just an issue over expense reports HP would have just asked him to pay back the money.
Not only was his payout written into his contract, but he also turned HP around from the mess that Fiorina made of it. Its stock has gained massive value since he took over and the board not blocking his golden parachute was a ‘thank you’ for that.
Check out this chick:
http://a.abcnews.com/images/News/nm_Jodie_Fisher2_100809_mn.jpg
This is no MILF, MIMF maybe. Don’t get your meat where you get your bread!
#26 >> Sounds to me like somebody wanted to throw him under the bus.
Yep. Maybe he asked to be thrown under the bus. I’d do it for $50M.
To everyone saying how great a job he did as CEO, you may be interested to know Jim Kramer praised him to high heaven.
Care to reconsider your praise?
Why are people like this paid so much? They are essentially just figureheads or “deciders” and really don’t “work” or contribute in any way. This must be the so-called free market, capitalist system that the Rushpublicans & teabaggers are trying so hard to defend & enshrine.
He sexually harassed a high-class “booth babe”. Her job was to look pretty and chat up clients. If she was NOT sexually harassed, she would not be doing her job correctly. It was basically in her job description.
12 million for quitting is ridiculous. But what can we do about it, when it is a private company paying it out, and the taxpayer is not directly affected? Using TARP money to pay huge bonuses is different, but this is an internal matter to HP.
WHO here would take the job for 1/2 the pay??
1/4 the pay???
1/10 the pay???
#28 The rest of the body is needed to see into which category she falls into.
I need one of those jobs but first I need to cheat/lie/harass the ladies/etc. One thing at a time here, I’m not a genius like these pro’s
I would feel worse if Hurd hadn’t made so much money for HP.
Using GiG’s logic, it’s ok for me to steal $100 from the company since I make $30K a year… after all it’s only a small fraction of my net worth. Get your head examined.
Scumbag is being polite to Hurd.
HP is the only company I have ever worked for where I make less than I did on the day I was hired thanks to Mark Hurd’s cost savings. Tens of thousands of people lost their jobs and he rakes in millions in bonuses. His $12.2 million in severance comes directly out of the pockets of HP employees.
Hurd is one of the biggest thieves imagineable and is still being rewarded for it. That is his only talent. Wake up.