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Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
# Wednesday, January 21, 2009
From the AP:
Under three years of Mark Hurd's leadership, Hewlett-Packard Co. has added more than $30 billion in sales, seen its profit more than triple, and for that "exceptional and sustained" performance Hurd was rewarded with a $34 million pay package in the latest fiscal year.

I actually agree that Mark Hurd has done an excellent job overall at HP, but don't forget two mediating facts that make a raise questionable:

HP is slashing 24,600 positions, nearly 8 percent of its 320,000 workers — Hurd will have cut nearly 40,000 jobs in two big rounds of layoffs since he took the job.

Layoffs are sometimes a necessary part of managing a company, but rewarding yourself for cost-cutting by eliminating jobs (which doesn't take a genius to order) sends the wrong message to employees still with the company.

Even worse: HP shares lost about 20% of their value in 2008. I don't agree that share performance should be the only criteria in executive compensation - but CEOs should share in the pain of a poor economic environment.

Wednesday, January 21, 2009 7:39:40 PM UTC  #    Comments [1]  |  Trackback
Tuesday, February 03, 2009 9:40:27 PM UTC
Executive's are completly out of control and that is because the lack of government oversight and regulation and the notion that free enterprise and privatization benifit everyone.
The last depression is clearly looked as a historical event that was caused by mother nature swallowing up the bread basket with a giant dust bowl and a domino effect. The real culprits aren't really emphasized because history does repeat itself, greed and power are the engine which lays a swath of human distruction and misery.
I will only highlight a small offshoot of a root, a root so large it would take volumes to analize the cause and effect. Today we are reliving the same shame only with new players.
Sharing some of the knowledge and pain of my own is small when I read or hear of the experiences of my fellow citizens and the outright rape of their life savings, their retirement accounts and jobs leaves me paralized. How could we hold our heads up and unite as citizens of a great nation when the so called (non-person) a corporation openly steals from us and our national treasury.
I'm trying to limit my emotions to some basic facts that corporate executives enjoy at the expense of the everyday citizen that works to have just a simple home, food on the table, minimum medical attention, pay the bills just to barely get by. It is only a paycheck from a roof over your head to being homeless with a sign on the street "will work for food" as the homeless slumber back to cardboard box after a day of begging. This isn't a third world country, this is the USA.
Our military is privatized where our young women and men are sacrificed in the name of national intrest, meaning where corporate investments are at risk. Our constitution and the bill of rights are only words, American blood pours out not for our previous sacrifices for defending and upholding our liberty. The blood pours out of our fellows citizen soldiers in the sake of corporate intrest, in government words, national intrest.
Working for a corporation and getting a benefit such as matching stock to whatever you set aside, your labors are rewarded. If one looks into this stock or 401 or a number of other options the picture doesn't match the labor you've given. The company uses the money while its in their possession for aquiring more assets. Usally this is a competetor and or a small business with something that eliminates competition or a valuable asset that will grow revenue. In this process several sacrifices personal gains are made.
The sacrifices usally are jobs eliminated in this aquisition, mostly at the bread and butter level. Management comes with the package and the corporation now has an impressive growth to wow the world. Then comes the spin-off and guess who comes with that package, the ceo or cfo or whatever their titles perk them up. They land a nice benefit by sitting on the board of directors and receiving a very nice compensation. Not only do they receive monetary compensation but receive all sorts of goodies, stocks, stocks options, corporate jets, just showered with the riches of corporate treasurey and the generous government welfare to corporate recepients. The stock that an investor off the street is dilluted by the corporated bosses to where it seems senseless to even save by investing to the normal Sally the seamstress or Joe the plumber.
To sum up what I've written about and to offer a solution is so enormous that tackling the political corporate machine is like asking who is GOD and why are we here. Our hope is our youth and the enormous task of where in the web do we start. I believe history will guide us and we can look at Franlin D. Roosevelt as to where the entanglement should begin. I appreciate you giving me your attention.
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