Ned has been advised that former CEO Mark Hurd, recently "fired" from computer giant HP, has been hired by computer giant Oracle to be "co-president". Now, Ned's more prescient readers will know that Ned has moles deep inside HP, who have told Ned stories of the cold-blooded arrogance and cost-cutting frenzy, not to mention almost Stalinist terror, that characterized Hurd's "tenure" at HP. But, not to worry, Hurd landed on his feet. Even though he was charged with, among other things, sexual harassment and financial improprieties arising out of questionable expense claims, he walked away with about $30 million.
Ned advises those who follow the stock market, on the basis of Hurd's record at HP, to SHORT ORACLE. Ned is certain that Hurd will impose the same regime on Oracle that he did on HP. Relentless cost-cutting, and government by terror, while at the same time massaging the bottom line so as to enrich himself still further while doing all he can to rein in the unreasonable salary demands by the employees which after all make Oracle work. In this, of course, he is simply following the business model that has made America the envy of the world.
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