Promoting Hurd is not a fitting punishment for HP
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A spanking only investors can be proud of Opinion Miss Manners tells us that when caught with your pants down, you're meant to pull them back up all the way. Under no circumstances should one allow gaudy, suggestive bits to remain dangling out for public consumption.â¦
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HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that Mark Hurd, HP chief executive officer and president, has been appointed to the additional role of chairman, succeeding Patricia Dunn, who is leaving the company's board, effective immediately.
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Hewlett-Packard Chairman and CEO Mark Hurd and recently ousted chairman Patricia Dunn are set to express regret to a House committee Thursday over the methods used in the company's leak investigation, but they also will seek to distance themselves from tactics used, according to their prepared testimony.
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Hewlett-Packard Co.  Chief  Executive Mark Hurd is not expected to face charges when  California's attorney general seeks indictments over a  boardroom leak probe, BusinessWeek reported in its online  edition on Wednesday.
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A corporation is not the person the legal fiction makes it so much as a collection of different interests. I was reminded of this fact a couple of weeks ago when I went shopping for a laptop. Remembering that Hewlett-Packard almost singlehandedly solved the basic problem of laser printer support for GNU/Linux, I ended up buying one of the company's laptops. Consumer reports, price, and HP's listing as one of the greener hardware manufacturers according to Greenpeace also affected my decision, but my impression of HP as a free software friendly company was a large criteria.
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HP CEO Mark Hurd says HP needs to invest more in its storage sales organization to boost sales.
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Dunn-leading Patricia Dunn, chairman of HP, will leave the position in January next year and be replaced by current CEO Mark Hurd. Dunn's position has been shaky since her role in the snooping scandal became public - Dunn hired private detectives to spy on directors and reporters.â¦
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By Damon Darlin  The Hewlett-Packard chairman and chief executive, Mark Hurd, has assured analysts and investors that he plans to continue cutting costs and said he does not foresee making major acquisitions to maintain growth.
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HP's embattled chairman is inducted into the Bay Area Council's Hall of Fame, and the press gets shunned.
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HP knows it can&#39;t depend on Microsoft for marketing. This has been particularly clear throughout its relationship with the company.
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LOUDON, N.H. -- Don't get mad, get even, but do it fairly. It's good advice, but there was nothing fair about the road rage that took place at yesterday's Sylvania 300.
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Rewarding the irresponsible isn't the right move.
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(InfoWorld) - Two U.S. Congressmen have asked Hewlett-Packard Co. (HP) Chief Executive Officer Mark Hurd to explain why he sold US$1.37 million worth of HP stock just before theÂ company's spying scandal became public. Congressmen John Dingell and Mark Stupak, both Michigan Democrats, sent a letter to Hurd Wednesday requesting an explanation and asking for a response by Dec. 21. "We look forward to responding to the committee's inquiry," said HP spokeswoman Emma Wischhusen. Both congressmen are ranking members of the investigations subcommittee of the House Energy and Commerce Committee, which in September held hearings on the HP pretexting scandal. In his testimony, Hurd apologized for the investigation HP undertook in which private investigators used false pretenses, called pretexting, to gain access to the phone records of people being investigated to trace leaks of board deliberations to the media. In their letter, Dingell and Stupak note that Hurd sold $1.37 million in stock options on Aug. 25, the same day Hurd was briefed by attorneys for Wilson Sonsini, one of HP's outside law firms, about the pretexting investigation and possible legal liability for the company over it. The scandal became public Sept. 6 when HP filed a notice with the U.S. Securities and Exchange Commission acknowledging that director Thomas Perkins resigned over the way the leak investigation was conducted. "The August 25 transaction does not appear to be part of any prescheduled program," the congressmen wrote in their letter to Hurd. "Please explain the reason for this transaction." Questions about the timing of HP executives' stock trades around the same time are also the subject of aÂ shareholder lawsuit against the technology company. The suit, filed Nov. 29 in Santa Clara County Superior Court in California, accuses Hurd and seven other HP executives of selling a total $41.3 million worth of shares between Aug. 21 and Sept. 6 based on insider information that the pretexting scandal was about to become publicly known. HP issued a statement at the time the lawsuit was filed calling it "baseless." As it is, HP's stock price wasn't adversely affected by the scandal as investors regarded it as unrelated to the company's operations. Â
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HP BOSS Ann Livermore said that the move to Itanium was not responsible for HP&#39;s sales slump. Livermore, who managed to avoid an axe wielding Carly Fiorina this week as sales in the bits of the company she manages plummeted, said that killing the Alpha ...
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Dunny flushed Patricia Dunn has not survived the HP spy scandal â a turn of events that everyone except HP saw as inevitable long ago. Dunn today resigned from HP's board, elevating CEO Mark Hurd to the Chairman role.â¦
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(InfoWorld) - Despite the turnaround Mark Hurd has engineered at Hewlett-Packard, the president, chairman, andÂ CEO of the technology giant remains unsatisfied. Hurd said at a Morgan Stanley Technology Conference on Monday in San Francisco that the company still has to reduce its cost structure in order to be more profitable and grow. By many measures, HP is successful. It edged past rival IBMÂ in 2006 revenue ($91.7 billion to IBM's $91.42 billion), improved its net income by 158 percent over 2005 to $6.2 billion, and is the industry leader in personal computer and blade server sales. "But on an absolute basis, we're not doing well," Hurd said. Although HP has been on a two-year campaign of cost reduction, including employee layoffs, those savings are still not completely reflected in HP's profit and loss statement, he said. "I don't think that we've gotten very good traction with the investment base understanding that these are efforts that require time," Hurd said. "It will take us all of the next two years to be able to take advantage of that." In an interview before a room full of Morgan Stanley investors, Hurd said the total available worldwide market for the computers, servers, printers, and information technology services HP offers is $1.2 trillion, but that HP still doesn't cover that market effectively. He said the company needs to add to its sales force and develop more partnerships with other companies to better reach customers. Hurd acknowledged, as he did in the company's earnings conference call Feb. 20, that HP's storage business was weak. It grew only 6 percent in HP's fiscal first quarter, which he attributed to the fact that much of its product line is tape storage, a declining business. However, sales of its EVA line of disk storage products grew 18 percent in the quarter. As for server sales, while they grew 10 percent overall, sales of blade servers jumped 45 percent in the quarter, and the Integrity line of high-end servers grew by 75 percent. To further control costs, HP last month offered employees an early retirement opportunity and said it would change from a pension plan to a 401(k) plan, although employees currently in a pension plan will still receive their pensions. While that is expected to trim payroll costs, Hurd said other costs, such as services delivery, real estate, and procurement, still have to be tightened. Hurd was one of scores of technology company executives speaking at the technology conference that runs through Wednesday.
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(InfoWorld) - Hewlett-Packard Co. president and chief executive officer Mark Hurd, speaking at a user conference Monday in Houston, told customers the company's goal is to listen to them more and respond to their needs more quickly. In a keynote address at the HP Technology Forum, which made only passing reference to the scandal that has rocked the company for the last two weeks, Hurd said "HP has made a lot of progress, but we've got a lot more to do." HP is on track to record about US$91 billion in revenue and an operating profit of $8 billion to $9 billion in fiscal year 2006, he said. That leaves $83 billion in costs that the Palo Alto, California-based company still needs to scrutinize for efficiencies. HP announced in July 2005 a restructuring that would result in the elimination of 15,300 jobs to save $1.9 billion in operating costs by the end of its fiscal year Oct. 31. Hurd told the Houston audience that while cutting some jobs, it is creating others and reinvesting in other areas to develop new opportunities for growth. "We want to spend money to realign our IT and make those investments so in the long term we save money," he said. Randy Mott, HP's executive vice president and chief information officer, explained the progress of HP's consolidation of 85 of its own data centers into six centers, two each in Austin and Houston, Texas, and Atlanta, Georgia. HP projects that consolidation will save the company about $1 billion in IT costs over the next few years. The company gave some of the 5,000 attendees a tour of one of the Houston centers to see how they might consolidate their own IT infrastructures. Hurd's one applause line in his presentation was his admission that HP needs to be more responsive to customers during the sales cycle: "When we actually show up at the account, we actually get more business than when we don't. We're working on that right now." To be more responsive, HP has cut the length of contract terms and conditions by two-thirds to make them easier to understand, said Ann Livermore, executive vice president of the technology solutions group, in her keynote. That was welcome news to Sam Ayers of the Information Technology User (ITUG) Group, representing users of HP's NonStop server line. Ayers chaired an ITUG Advocacy Committee which pushed for the streamlined contract terms. "It took a long time for that to be decided, but it's here," he said. Ayers is an IT professional with Chase Paymentech Solutions LLC, the largest credit, debit and gift card payment processor in the U.S. Hurd took only a handful of pre-screened questions from the audience and after his speech was quickly escorted out of the convention center and into a waiting Lincoln sport utility vehicle. Aides and security guards prevented a reporter from approaching him with questions about the HP board scandal. State, federal and congressional investigations are probing allegations that HP hired a private investigations firm to find out who was leaking news of HP board deliberations to the media. The private agency allegedly obtained private phone records of directors and reporters under false pretenses to find out who they were calling. Media reports Monday said investigative methods also included physical surveillance of people and an attempt to install surveillance software on a reporter's computer. Hurd made only a brief reference to the scandal in his keynote. When he mentioned that Jack Novia, HP's managing director of the Americas region and senior vice president of the customer solutions group, was throwing out the first ball at a Houston Astros baseball game Tuesday evening, Hurd said: "I asked him not to embarrass the company, given the press coverage we've gotten over the last week."