Most disgusting aspect of this yet another HP scandal is not the disgraceful exit of HP Fuhrer Mark Hurd, but a stinky HP board that appointed this high on testosteron Great Leader after the `all flash' brain dead Carly Fiorina:: http://www.bloomberg.com/news/2010-...challenge-of-his-half-finished-expansion.html "Hurd stands to receive $40 million to $50 million before the end of the year, estimates Frank Glassner, CEO of Veritas Executive Compensation Consultants LLC in San Francisco, who analyzed an HP regulatory filing listing Hurdâs options and restricted stock units." Most people did understand long ago where this capitalist pig is headed: http://www.damiansaunders.net/2010/01/30/comment/hps-economic-opportunism-and-greed-one-year-on/ Now, the internally groomed pigs are allegedly in running: (excused herself) Catherine Lesjak, Executive Vice President and Chief Financial Officer, earned total compensation of $7,585,775, including over $200,000 in 401k matching, security, and personal use of the HP Corporate Jet. -- Ann Livermore, Executive Vice President, HP Enterprise Business, took home $13,424,406 in including around $184,000 in 401k matching, security and personal use of the corporate jet. -- R. Todd Bradley, Executive Vice President, Personal Systems Group, $12,538,329 in his personal coffers including about $248,000 in 401k matching, relocation expenses, personal use of the company jet, and security. -- Vyomesh I. Joshi, Executive Vice President, Imaging and Printing Group, a package of $11,644,691 including $183,000 odd of 401k matching, security services and use of the corporate jet. Reading the HP release wrt Mark's ouster for minor expense reporting irregularities (no sexual harassment, since "I did not have sexual relationships with that woman"), which is a plain Soviet-style insult to investor's intelligence, one may guess that the top henchmen have dumped their Lieben Fuhrer for innerving them wrt their hefty bonuses for doing God's work. Apparently, this outweighed the impact of hefty raises they got from the Fuhrer: http://seekingalpha.com/article/163169-hp-s-executive-comp-is-troubling-in-a-year-of-worker-pay-cuts "Although HP's performance has hit the wall in the past two years, Hurd's pay -- and the pay of his management team members -- has dramatically increased. For 2008, Hurd's total compensation reached $43 million, which made him the fourth highest paid CEO in America for 2008. Hurd's total compensation increased 73% from his $25 million in 2007, even though HP's stock price declined 29% in 2008. On his senior management team, the sharp compensation increases in 2008 were also noteworthy. -- CIO Randy Mott's total compensation went up 400% last year to $28 million. -- Imaging EVP VJ Joshi's total compensation jumped 83% to $22 million. -- Personal Systems EVP Todd Bradley's total compensation jumped 263% to $21 million. -- Technology Solutions' EVP Ann Livermore enjoyed a 31% bump in total compensation to $21 million. -- And CFO Catherine Lesjak got a 49% increase in total compensation to a more modest $6 million. What also raises eyebrows about these sharp executive raises, aside from it happening in the face of a sharp stock price drop for the year (and the general market uncertainty which remained at the end of the year), is that 2008 was also a year in which these same leaders imposed mandatory 10% pay cuts for other executives and 5% cuts for the rest of HP's workforce. It hardly seems like this select group is shouldering the pain like the rest of the employees." Closer look at Todd Bradley, one of the front-runners. From the same article by Eric Johnson in Seeking Alpha: "Perhaps the biggest bonus for being an HP senior executive is getting access to the fleet of corporate jets for personal use. Shareholders forked over $136,000 for Mark Hurd's personal use of the aircraft in 2008. Todd Bradley's personal use of the aircraft cost $128,000 in 2008, which was actually down from $327,000 worth of personal travel in 2007. HP explains in its proxy filing that for "purposes of reporting the value of such personal usage in this table, HP uses data provided by an outside firm to calculate the hourly cost of operating each type of aircraft. These costs include the cost of fuel, maintenance, landing and parking fees, crew and catering and supplies." I think it's completely unacceptable for shareholders to pay for this personal use perk. However, this explanation left me with more questions about these numbers. Who is this outside firm that provided this estimated hourly cost? What in fact was the hourly cost? How do shareholders know that the hourly cost was a fair market rate? Finally, what were these personal trips? I'm not even sure how it's possible for Todd Bradley to have racked up $327,000 worth of personal travel in 2007. Did he have time to show up for work that year? Call me a conspiracy theorist but isn't it possible that this outside firm vastly under-stated the actual (fair market) hourly cost of using these aircraft for personal use? How will shareholders actually know unless the company releases the flight logs and numbers? Dell and his senior executives charged no personal use of their aircraft to its shareholders." In view of this legitimised misuse of company assets (looting, to be precise) the HP explanation for firing Mark for some minor expense report 'mistakes' is beyond ridiculous. One should also mind the engineers of the HP compensation that assures that the next HP fuhrer will have full assurance of soft landing no matter the outrageous and/or criminal acts s/he commits while in office and fully protected by 6'5" bodyguards from annoying employees in corporate bldg. on Hannover Str. After all, this is the HP Way version -2.0. Investors should know those compensation engineers from HP board of untouchable geniuses: http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=irol-govCommittee&Committee=4843 Lawrence T. Babbio, Jr. Rajiv L. Gupta John H. Hammergren Joel Z. Hyatt Lucille S. Salhany Thank you, Mr. Babbio, for supporting Carly's exit for $21M, and Mark's exit for a much larger amount, close to $50M. You and your accomplices did more for exposing the American plutocracy than anyone else. I guess that we can now rest assured that the HP board will select a scumbag #3 to lead HP. Surely, the capitalist pigs on the board will appoint one of their own breed to squeeze out what's left of this company. And why not? - this is precisely where the banksters lead this quickly degenerating plutocracy.