Yet again the HP Board of Directors, voted worst in the country by business poll after business poll, has shown why they merit that lofty achievement. Comes word that deposed jefe Leo Apotheker, on the job (so to speak) for only eleven months, has been awarded "severance" of $7.2 million, besides accelerated access to other goodies like stock options worth millions more. All this at a time when HP is frantically outsourcing jobs overseas, and carrying out a management policy, according to stressed-out employees, that resembles Stalinist terror more than anything else.
And recently they announced they were replacing Leo with Charter Member Sneering Plutocrat Meg Whitman, or, "Carly 2.0" as Ned's moles inside the company are describing her, since she was dumped by eBay, as was Fiorina by a former telecom company, carrying billions in stock options away with her, as did Fiorina from HP, along with her vewy own pwivate airplane. Moreover, Whitman has no experience running a tech company and is fresh from throwing away $160 million of "her own" money on a Quixote-like campaign for the governorship of California, where she was trounced by septegenarian former flower child Jerry Brown.
To top it all off, they had the temerity to announce that Whitman's "Base" pay was going to be $1 a year. Now, Ned can imagine what sort of "incentives" this Board of Nitwits is offering her: probably $50,000 for every day she shows up for work, and so forth.
Ned assures his friends that the HP board's position at the bottom of the heap has only been more cemented by these daring moves. And be sure to SHORT HP.
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