mercredi 5 octobre 2005

"I Want HP to be a boring company"

18 commentaires:

  1. 14,5 billions $ to do what?5 octobre 2005 à 08:33

    When HP repatriates 14,5 billions dollars of profit…

    American Jobs Creation Act of 2004—Repatriation of Foreign Earnings (page 21)
    The Jobs Act, enacted on October 22, 2004, provides for a temporary 85% dividends received deduction on certain foreign earnings repatriated during a one-year period. The deduction results in an approximate 5.25% federal tax rate on the repatriated earnings. During the third quarter of fiscal 2005, HP's chief executive officer and Board of Directors approved a domestic reinvestment plan as required by the Jobs Act to repatriate $14.5 billion in foreign earnings in fiscal 2005.
    HP recorded additional tax expense in the third quarter of $788 million ($0.27 per share) related to this $14.5 billion dividend under the Jobs Act. The additional tax expense consists of federal taxes of $744 million, state taxes, net of federal benefits, of $73 million, and a net tax benefit of $29 million related to an adjustment of deferred tax liabilities on both repatriated and unrepatriated foreign earnings.
    HP repatriated $7.5 billion of the planned dividend under the Jobs Act in the third quarter and expects to repatriate the remaining $7.0 billion in the fourth quarter of fiscal 2005.

    From the « St Petersburg Times » HP wouldn’t spend this money to create new job in USA…
    http://www.sptimes.com/2004/10/14/Opinion/Corporate_giveaway_de.shtml

    RépondreSupprimer
  2. "The benefits of being boring".

    For sure, this guy makes me dream...

    RépondreSupprimer
  3. How much cost a Dream CEO team to build a boring company?
    Mark Hurd
    salary = 1.4 millions $ Welcome bonus = 2.0 millions $ (a year)
    HP's Pay-for-Results (PFR) = 200% à 600% of 1.4 (per year)
    HP's Long-Term Performance Cash program (LTPC) = from 300% to 900% of the basic salary (dispatch over 3 years)
    Stock Options = 700 000
    Stocks = 400 000 (equivalent 11.2 millions $ with HPQ= 28$)
    house removal cost = 2.75 millions $

    Randall Mott
    Salary = 0.69 millions $ (a year)
    Welcome bonus = 2.2 millions $
    HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year)
    HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years)
    Stock Options = 500000
    stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$)
    house removal cost = 1 millions $

    Todd Bradley
    Salary = 0.75 millions $ (a year)
    Welcome bonus = 1 millions $
    HP's Pay-for-Results (PFR) = 125% à 375% of .75 M$(per year)
    HP's Long-Term Performance Cash program (LTPC) = 2.76 millions $ (dispatch over 3 years)
    Stock Options = 400000
    stocks = 100000 (equivalent 11.2 millions $ with HPQ= 28$)
    house removal cost = 0.18 millions $
    But it’s not enough for this dream team :
    Profits 2004 = 3,5 M$
    R&D investments 2004 = 3,5 M$
    HPQ stocks bought by HP
    2003 = 1M$
    2004 = 2 M$
    2005 = 4 M$ (announced aout 05)

    Stocks option gift
    --------------------
    2000 : about 2000 stocks
    2001 : about 87000 srocks
    2002 : about 300 stocks
    2003 : about 250000 stocks
    2004 : about 150000 stocks
    2005 : 1 352 200 stocks already gived befor traditional Christmas gifts !!!!!!!!
    And it’s just before buying 4,5 billons $ HPQ stocks with the profit.
    04/01 Mark Hurd 400000 (award)
    06/14 Richard Braddley 100000 (award)
    08/19 Robert Wayman 300000 (gift)
    We are very far from the HP way ...
    http://investor.hp.com/EdgarDetail.cfm?CIK=47217&FID=1047469-05-22690&SID=05-00

    RépondreSupprimer
  4. Procurve for sales6 octobre 2005 à 07:03

    Next step, our boring CEO wants to sell the great profitable network division : PROCURVE.
    Just to do quick profit and to rise HPQ stocks...I am sad sad sad.

    RépondreSupprimer
  5. I can't claim to know what HP in France is demanding relative to other
    divisions. I don't know if HP in France is selling goods worldwide or
    mainly to people in France, either, (if they mainly produce for France,
    then the company culture should reflect the workers and clients more)
    and I am not necessarily a great supporter of everything within the
    French culture. However, some concepts they have right. People
    shouldn't ruin their health working, and particularly for a company that
    shows little to no loyalty to their employees, and in recent years HP
    has shown a poor attitude toward their long term and loyal workers, all
    in the search for better stock holder support and outrageous "gifts" and
    golden parachutes to upper management and execs. C.F. certainly did
    major damage to the company under her stewardship, as well.


    As in France, family should come before workplace, and French culture
    has a better understanding of this, and offers better education and
    welfare for their children than many other countries, including the US.


    The EU community is overall showing more leadership in making new and
    improved environmental standards, especially in areas of high tech,
    working on global climate change, etc.


    Multinationals need to be more sensitive to the culture of the countries
    they hold offices and manufacturing plants within. Just because people
    at HP US may be willing to sacrifice there health and families for their
    job doesn't necessarily make it a good thing (for anyone other than HP
    execs and stock holders).


    Companies need to develop more balance in how they function. Developing
    a race for the bottom, just because some countries' cultures allow for
    it, hardly makes it smart. It's not about the 1960's or 1970's, it
    about the fact that we hopefully have evolved far enough to recognize
    those approaches are hazardous and not beneficial. Some of the
    developing world is just entering an evolution we are hopefully just
    leaving. We should be in no rush to compete with what the workers in
    those countries will eventually recognize is a poorer set of values.

    RépondreSupprimer
  6. First management censored part of a question asked to MH in England.


    Second, the relating of this censorship is censored here.

    RépondreSupprimer
  7. could someone relate this censorship story here?

    or point us on the time (...an hour and half of "boree talk"...) where we can see the question/answer on the uk intranet video.

    --a human/citizen/french/(happy)/hp worker.

    RépondreSupprimer
  8. Intranet link is : http://hpbroadband.com/program.cfm?key=5903CEOTalk03Oct05
    Between 1:13 and 1:19

    RépondreSupprimer
  9. Mark Hurd is talking about bad jobs and good jobs in HP. Bad jobs have to disappear and nobody hired himself in this company...

    RépondreSupprimer
  10. During the last years I have come to realize that the French are mostly just interested about themselves. Does not make me so sad, that they are (and will despite of all this nonsesne) get their fair share of these reductions.

    And the quotes here on the pages are just like yellow press. "Being boring" sounds good to me, in case you understand what Mr Hurd is saying.

    RépondreSupprimer
  11. I'm french and I'm sad to read this... HP-way is really dead, not only at the head of this company but also at the ground floor.

    RépondreSupprimer
  12. French HP employees are more impacted than the rest of the world with -26% instead of 10% of job cuts without explain!
    Second reason, France and Grenoble was the first HP site in Europe and loose PC division with Compaq merger for political reason (keep safe the Houston Compaq one).
    Third, the management lie to us (no reinvestments) and our pay rise still year after year under the life cost rise...
    The profit in Europe and France still good (50% of the WW profit) and M Hurd strategy is simply to cut job in "high cost country" and increase job in "low cost country" without market, employees and consideration. Then HP is starting to be a non equity brand in Europe.
    I think Q4 is not already impacted but some growth perspective would probably be lower as expected.
    That's all.

    RépondreSupprimer
  13. and you know why ?

    It's because French top managers want to make a career in HP and what is good for their career is to send messages, slideset etc against France and french people.

    As a bad joke, the person responsible for job development in France & Grenoble is also the one complaining about french laws in corridors but guess what where is he living ?

    For the blogger at 1:47am; I don't know who and where yuo are but you're boring, terribly boring. Not sure any company can succeed with only boring employes... Mark want to get money and will live. Nobody care about HP future, they just do care getting some $.

    RépondreSupprimer
  14. A company which focusses only on cost reduction is declining.

    RépondreSupprimer
  15. Listen to Californian Radio KPFA (http://www.kpfa.org/archives/index.php?arch=10469)
    They relate the strike and protest march in France of October 4th

    It is between 53mn 17 and 57 mn 43.

    RépondreSupprimer
  16. Boring, boring...I don't know if it's the good word...But Randy Mott (coming from Austin Texas Dell) is hired with lots of dollars to reduce internal IT HP cost; why not? But his strategy is like a 7 years kid. He decide to do 3 datacenters only for HP WW, 1 in Austin (of course!), one in Houston (Texas and Bush I love you!!!) and Atlanta. But the network link between USA and EMEA or ASIAPAC is limited and worth 32% of the network bandswith is already used by the Voip. That means internal HP IT will still dispatched for Exchange server and many different local server.
    It could be smart to do one Datacenter per area (EMEA, ASIAPAC and America) but it's not politically correct.

    RépondreSupprimer
  17. We also know how much R Mott cost before any optimisation :
    Randall Mott
    Salary = 0.69 millions $ (a year)
    Welcome bonus = 2.2 millions $
    HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year)
    HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years)
    Stock Options = 500000
    stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$)
    house removal cost = 1 millions $

    RépondreSupprimer
  18. HP's chief exec dismisses any 'me too' attitude :


    Article

    RépondreSupprimer