Five questions for HP

TalkBack 2 of 2:: « Previous

Thread View
Flat View

Why HP Case is so Important: I agree the goverment by lawyers has destroyed ethics in both our democratic institutions and in our corporations.

Ultimately, CFOs and CEOs must take stronger positions against ethical bankruptcy or this trend will increse, not decrease.

Here is summary of HP as a company, the situation and why the case is so important to America and the global economy:

2006 Profile

Hewlett Packard - Replaced IBM as Premier Computer and Technology Company in the World

Company Type Public (NYSE: HPQ)
Fiscal Year-End October
2005 Sales (mil.) $86,696.0
1-Year Sales Growth 8.5%
2005 Net Income (mil.) $2,398.0
1-Year Net Income Growth (31.4%)
2005 Employees 150,000
1-Year Employee Growth (0.7%)

For the fiscal year ending on Oct. 31, 2003,
HP revenue totaled $73.1 billion.

BIG QUESTIONS

1. Mark Hurd, CEO of HP -- should a CEO under investigation for a felony be running a Fortune
500 company, or any company with billions in publicly traded stocks? The risk here is -- if
there is a perception that he was involved or even just negligently involved, he will tke down
HP many pension funds that invest in HP.

2. Who in HR department gave the SS# to the investigator? This is a major securty risk for HP and it is interesting how this point is being overlooked.

3. Are phone company leaks (bribing a phone company employee is an easy way around pretexting) just as easy as assuming false identities?

Note -- in a recent high profile case (1994), the phone records of a crime victim were illegally accessed by 1800 GTE (now Verizon) employees. Ironically, the records were never used in the case.

5. What about outsourced customer service? The majority are outside the US and they always ask Americans for SS# and customers often don't have a choice. US law does not work outside the US, so foreigners can steal your identity with little if any fear of prosecution by US courts.

6. Because Hurd hired the investigating lawyer, Mike Holston of Morgan, Lewis & Bockius -- would he refrain from naming Hurd as a co-conspirator?

FIRED TO DATE

1. pERKINS -- LEAKER, resigned
2. kENSWORTH -- LEAKER, resigned
3. dUNN -- Chairperson, resigned
4. hUNSUCKER -- Manager of HPs global security investigation unit, resigned Friday
5. gENTILUCI -- Global council, resigned Tuesday

TO BE FIRED AND/OR ARRESTED OR ...:

6. hUMAN RESOURCE SOURCE of SS# -- Not named, probably still employed. Major red flag.
7. General Counsel Ann Baskins, who HP lawyers said received e-mail updates on the Investigation, remains in her post, an HP representative said on Tuesday.
8. pHONE COMPANY REPRESENTATIVES WHO GAVE UP THE DATA.

The following pension funds, worth more than 600 millio dollars (at the time of this post), want to nominte their own board members because they are concered about HP's internal governance. The Connecticut Retirement Plans and Trust Funds, the New York State Common Retirement Fund, the North Carolina Retirement Systems and the American Federation of State, County and Municipal Employees Pension Funds.

There are many other huge pension funds, such as the California Public Employee Pension Fund (probably the biggest investor but I'm not sure) that are at risk if the lies and fumbling continue at HP.

Unless we see 50 year to life sentences for coroporate executives that violate SEC laws, security laws and privacy laws, we'll see major corporations continue to destroy credibility in the US economic system. We're talking about a huge pool of investment money drying up.; Posted by: author20@... Posted on: 09/27/06 You are currently: a Guest | Members login | Terms of Use