Comments on: The HP board fiasco continues http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: y2kurtus http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31255 Sat, 24 Sep 2011 18:08:20 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31255 “the shareholders’ own representatives on the board.”

I hope one of the outcomes from this ficasco is that shareholders actually get more imput into the makeup of their boards.

Yes boards are elected… but the elections are uncontested. I’m pretty sure I could get elected president if I was the only one on the ballet. Hopefully in few years we’ll have a system where the nominating committee will put forth a slate of 12 – 15 canidates for 8 – 10 annually elected board spots.

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By: thinkbeforetalk http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31253 Sat, 24 Sep 2011 12:44:44 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31253 Mr. Hurd: Please tell the world what it wants to here, the stupidity of “Nobody is indispensable.”

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By: thinkbeforetalk http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31252 Sat, 24 Sep 2011 12:44:37 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31252 Mr. Hurd: Please tell the world what it wants to here, the stupidity of “Nobody is indispensable.”

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By: right http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31243 Sat, 24 Sep 2011 00:33:57 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31243 Felix, while I agree the HP board as an institution has done little to inspire confidence over the last decade, it is worth noting that neither Whitman nor Lane joined the HP board until after Apotheker was hired. Given they are only 12 months removed from an extensive CEO search, it is pretty reasonable to believe that they had a good understanding of what options were out there, and it’s not obviously ridiculous that Whitman was a good choice. She has been a successful CEO in the past. Finally, “we support Apotheker’s strategy but he was executing it and communicating about it poorly” is a perfectly sound reason to replace the CEO.

All that said in the way of semi-defense, the worst thing the HP board did this time around was leak Apotheker’s potential firing 24 hours before they actually decided to do it. That more than anything makes me believe that these guys are still a bunch of clowns.

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By: hilli http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31242 Fri, 23 Sep 2011 20:27:18 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31242 @bedhead From the FT:

Both Ms Whitman and Mr Lane said Mr Apotheker, who became chief in November 2010, was replaced for what they saw as failings of leadership, communication and operation, rather than problems with his strategic decisions.

http://www.ft.com/cms/s/2/be2fa12e-e5f7- 11e0-b196-00144feabdc0.html#ixzz1YoEUO79 d

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By: MyLord http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31231 Fri, 23 Sep 2011 17:28:18 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31231 Was Meg Whitman given a lateral transfer (promotion to get her off the board)?

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By: klhoughton http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31230 Fri, 23 Sep 2011 17:05:33 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31230 The strange idea that there is any value left in HP surely died this morning when Whitman declared (slight paraphrase), “My predecessor was incompetent, and I plan to continue his actions.”

At this point, anyone who is stupid enough to invest in any company that has a member of the HP board on its Board–and, yes, I am including Marc Andressen, who is rapidly becoming the Bernie Madoff of high-tech, on that list–gets what they deserve: massive losses with very limited upside.

Rather like the way Whitman ran eBay after the VC monies were replaced with their own capital.

You’re too nice to them, Felix. That HP’s Board wasn’t fired by the shareholders after The Hurd Debacle is a result of regulatory capture and inept pension funds in the =best= case scenario.

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By: KenG_CA http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31224 Fri, 23 Sep 2011 15:25:43 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31224 @FifthDecade, very funny. I don’t often smile when reading about HP.

@Curmudgeon, HP already has a lot of debt, so an LBO wouldn’t be a great idea. Of course, that never stopped those kinds of deals. The market cap has dropped like a rock this year, I think they were over $100B in February. I would bet shareholders might finally revolt against the board if they tried to sell off the company at a valuation of $50-60B, even if the sale was in pieces, so maybe that would be the best thing for HP’s employees and customers.

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By: bedhead http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31223 Fri, 23 Sep 2011 15:16:49 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31223 So Leo gives his best effort to wreck the company by changing the strategy, the stock tanks and the board decides to dump Leo and hire Meg, whose first words are “the strategy is right.” So why in the hell did Leo get fired again???

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By: Curmudgeon http://blogs.reuters.com/felix-salmon/2011/09/22/the-hp-board-fiasco-continues/comment-page-1/#comment-31219 Fri, 23 Sep 2011 13:32:16 +0000 http://blogs.reuters.com/felix-salmon/?p=10168#comment-31219 @TFF, point taken, I didn’t realize it was that low. It does (or did) through off a good amount of cash, so an LBO may be the only viable strategy, although you might sell off pieces for a more manageable debt. I still don’t know anyone who would want it whole, though.

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