Breaking news, politics, trends, celebrities and sports

U.S. to Sue British Petroleum… Finally

Filed under: Courts,Disasters,Environment,Government,Legal,Scandals — Tags: , , , — Positronic Dave @ 4:00 am December 16, 2010

Britain Bp

The Obama administration announced the commencement of a civil suit against British Petroleum for their part in the Gulf of Mexico disaster

HP CEO Mark Hurd Resigns Over

Filed under: Business,Scandals — Tags: , , , , — Positronic Dave @ 1:10 am August 7, 2010

HP CEO Mark Hurd resigned suddenly today after getting busted for having an “improper relations” with a woman who was doing contact work for the computer mega-company.

mark HurdHewlett-Packard said it was a good news/bad news kind of thing. The Good News is that the relationship didn’t violate the company’s Sexual Harassment standards. The bad news is the Mark Hurd did violate the standards regarding falsifying records, nepotism, expense account fraud and paying the contractor for work she didn’t actually do. I guess they were too busy “uploading on the download” so to speak.

Of course, Hewlett-Packard’s stock price dove for cover on hearing news of Hurd’s resignation. The man was responsible for taking HP stock way up in value, and making HP the biggest company in the computer business.

The news was released by Hewlett-Packard today, after several weeks of investigation. And Mark Hurd is getting a Tony Hayward-esque package of over $12 million dollars now, with stock options worth another $30-40 million. So don’t cry for him Argentina… it’s not like he’s getting fired the way you and I get fired.

And HP should bounce back from this fine, as it’s a stupid personnel-related issue and not a product-related matter that sent their stock price diving. HP says their CFO, Cathy Lesjak, will assume the HP CEO function, pending the finding of a permanent replacement.

Older Posts »