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  1.    #1  
    Hi all,

    Jeez Louise I want to be a CEO that screws up and STILL WALKS AWAY WITH A MINT, when I grow up!

    Take care,

    Jay


    Hurd Walks Away With More Than $12 Million
    By NANCY GOHRING of IDG News Service\Seattle Bureau, IDG, August 6, 2010

    Hurd Walks Away With More Than $12 Million - NYTimes.com

    Mark Hurd may have been forced to resign as CEO of HP for conduct deemed inappropriate by his board, but he won't be leaving empty-handed.

    According to the terms of his resignation filed with the Securities and Exchange Commission, Hurd will earn a severance payment of US$12.2 million. He will also be able to cash in on various large stock opportunities, including 330,177 performance-based restricted stock units that were granted to him in 2008. He was also given an extension until Sept. 7 of the expiration date of outstanding options to purchase up to 775,000 shares of HP stock that were vested as of Friday.

    In exchange, Hurd signed "a general release of claims in favor of HP," according to the filing.

    On Friday, HP announced that Hurd agreed to resign after a former marketing consultant alleged that he sexually harassed her. An investigation found that Hurd had a personal relationship with the consultant that he hid from the board and covered up using inaccurate expense reports.

    HP CFO Cathie Lesjak will serve as interim CEO while the board hunts for a permanent replacement for Hurd.

    His payout appears to be close to the terms set out in the company's severance plan for a CEO who is involuntarily dismissed, not for cause. An HP CEO who is involuntarily dismissed, not for cause, is eligible for two times their base pay plus the average annualized bonus paid during the preceding three years, according to company proxy materials. Hurd's base pay in 2009 was $1.2 million and total bonuses from 2007 to 2009 amounts to $7.9 million.

    Hurd's total compensation from HP in 2009 was over $30 million.

    HP's general counsel, speaking during a conference call to discuss Hurd's resignation, seemed to leave the door open to potential lawsuits regarding Hurd's activities. In response to a question about whether any lawsuits had been filed, Mike Holston, HP's general counsel said none had been filed "at this point."

    Nancy Gohring covers mobile phones and cloud computing for The IDG News Service. Follow Nancy on Twitter at @idgnancy. Nancy's e-mail address is Nancy_Gohring@idg.com

    Copyright 2010 IDG. All Rights Reserved.

    IDG is a provider of global technology news. Read More »
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  2. stockh's Avatar
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    #2  
    don't forget that piece of ***** he was probably hittin'
  3.    #3  
    Quote Originally Posted by stockh View Post
    don't forget that piece of ***** he was probably hittin'
    Yes, she more than likely is someone else's trophy wife! Or as one of my very dear fiends says, "Ladies of horizontal refreshment"!

    I heard a rumor that Hurd like to charge everything to the company...well how should I put this........ so in effect we all have been paying for his extra curricula activities!

    Take care,

    Jay
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  4. #5  
    is he married? All that money doesn't replace a broken family.
  5. #6  
    omfg!
  6.    #7  
    Quote Originally Posted by Workerb33 View Post
    is he married? All that money doesn't replace a broken family.
    Hi,

    I can describe him with one word, "jerk"!

    Take care,

    Jay
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  7. #8  
    married with two kids... The home wrecker probably turned on him when he refused to leave his wife.

    http://www.mercurynews.com/ci_15699188

    those poor kids...

    I hope his wife gets the entire severance in the divorce, too.
    Last edited by Workerb33; 08/06/2010 at 09:39 PM.
  8.    #9  
    Quote Originally Posted by Workerb33 View Post
    married with two kids... The home wrecker probably turned on him when he refused to leave his wife.

    HP's Mark Hurd seemed an unlikely candidate for scandal - San Jose Mercury News

    those poor kids...

    I hope his wife gets the entire severance in the divorce, too.
    Hi,

    My wonderful G/F and I have been together over 4 years...It would never dawn on me to be interested in someone else.

    His wife should have taken classes in welding...this way she could welded his pants shut! LOL!

    It stinks for the kids...in addition, we all know how kids can be, I am sure if they are in school, they are getting flack about it from other kids.

    Perhaps Hurd and the rest of the cheaters, should be introduced to Lorena Bobbit...this way she can "remove" his bobbit...so to speak!

    Unfortunately the wife will not get all the money, which would be nice, however the lawyers will make out just fine...as usual...

    It seems as if Hurd is 3 rungs below a leach, on the evolutionary ladder.

    Take care,

    jay
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  9. #10  
    it takes 2 to cheat don't put all the blame on hurd both of them are grown ups. It does suck for the kids
  10. #11  
    john edwards, mark sanford, elliott spitzer, bill clinton, and the list goes on...
  11. #12  
    Ha, got caught hiding the salami and he gets 40 mil, not a bad days work for old Hurd. Of course there will be wifey coming down hard on his a##.
  12.    #13  
    Quote Originally Posted by gangland View Post
    It does suck for the kids
    It sure does!!!!!!!!
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  13. solarus's Avatar
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    #14  
    What as asshat. But I guess half of $12mm is still $6mm...oh it sucks to be an asshat.

    What a ******bag.
  14. #15  
    according to the AP article, both Hurd and the woman suing him deny there was a sexual relationship.

    The NYTs I believe also reported that Hurd and the woman several times dined alone together -- but does not otherwise detail what elements of their relationship constituted sexual harassment.



    ...Mr. Hurd used inaccurate expense reports to conceal the relationship with the woman. Mr. Hurd, who is married, has denied having a sexual relationship with the woman, according to the person briefed on the situation. Mr. Hurd declined comment.

    Gloria Allred, the celebrity lawyer who has agreed to represent the woman, said, “We want to make clear that there was no affair and no intimate sexual relationship between our client and Mr. Hurd.” ...
    Last edited by BARYE; 08/07/2010 at 11:05 AM.
    755P Sprint SERO (upgraded from unlocked GSM 650 on T-Mobile)
  15. #16  
    sounds like he was putting the moves on, and she wasn't having it.

    a few candle light dinners of begging, and she can blacknmail hin.

    ironic that she was in marketing... Probably did the SJP ads... Whick sucked.
  16. #17  
    Quote Originally Posted by Workerb33 View Post
    sounds like he was putting the moves on, and she wasn't having it.

    a few candle light dinners of begging, and she can blacknmail hin.

    ironic that she was in marketing... Probably did the SJP ads... Which sucked.
    more details are leaking out, as it were ...

    Ousted HP CEO settles with accuser
    By JORDAN ROBERTSON, AP Technology Writer

    SAN FRANCISCO – Ousted Hewlett-Packard Co. CEO Mark Hurd has settled allegations of sexual harassment lodged against him by a female contract worker for HP, a person with intimate knowledge of the case told The Associated Press late Saturday.

    The harassment accusations set off a chain of events that led to the discovery of allegedly falsified expense reports about Hurd's meetings with the woman and culminated in Hurd's stunning resignation this week that left a hole in the world's largest technology company.

    The person familiar with the case told the AP that Hurd agreed to pay the woman, but this person wouldn't reveal the size of the payment. The settlement was between Hurd and his accuser and did not involve a payment from HP, this person said.

    This person requested anonymity because of not being authorized to speak publicly about the issue.

    The deal was reached Thursday, a day before Hurd's resignation...

    ...This person said Hurd met the woman, who is in her 40s, when interviewing her in 2007 for a job greeting and introducing executives at corporate events that she also helped organize.

    They talked at a luxury hotel and met for a second time in Denver when she was flown in for a final interview at an HP event Hurd was attending, according to this person. Hurd approved the hire then, the person said.

    Hurd and the woman often shared dinner after events she was hired for, said the person, who described the relationship as an acquaintance that became friendly.

    Hurd's ouster is the third in five years at HP's top echelon. First was Fiorina's in 2005, then former Chairwoman Patricia Dunn was ousted in 2006 amid a boardroom spying scandal that involved spying on reporters' and directors' phone records to suss out the source of leaks to the media.

    "It says they're off track in some fundamental way," said Stephen Diamond, associate professor at Santa Clara University School of Law and an expert on business law.

    "The first thing is, they have to find the right kind of CEO," he added. "And I think what that CEO needs to do is come in and say, 'How many board members were here during the last two scandals? If you were, please resign now."
    755P Sprint SERO (upgraded from unlocked GSM 650 on T-Mobile)

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