HP stock tumbles after CEO scandal | August 13, 2010 | Palo Alto Weekly | Palo Alto Online |

Palo Alto Weekly

News - August 13, 2010

HP stock tumbles after CEO scandal

Hurd resignation leads to personnel, stock fallout

by Gennady Sheyner

Last week's forced resignation of HP Chief Executive Officer Mark Hurd has dropped the company's stocks by more than 10 percent, drawn vehement criticism from Oracle CEO Larry Ellison, and prompted Hurd's top aide to step down this week.

This story contains 320 words.

Stories older than 90 days are available only to subscribing members. Please help sustain quality local journalism by becoming a subscribing member today.

If you are already a subscriber, please log in so you can continue to enjoy unlimited access to stories and archives. Subscriptions start at $5 per month and may be cancelled at any time.

Log in     Subscribe

Staff Writer Gennady Sheyner can be e-mailed at gsheyner@paweekly.com.

Comments

Like this comment
Posted by Larry
a resident of College Terrace
on Aug 12, 2010 at 11:08 pm

Larry Ellison knowns that those sexual harassment lawsuits are easy enough to beat when you have a top-of-the-line legal team and an unlimited defense budget.


Like this comment
Posted by wish I had some money to invest
a resident of Meadow Park
on Aug 13, 2010 at 5:41 am

Wow...I guess now is the time to buy!

wish I had some cash...


Like this comment
Posted by HP shareholder
a resident of Palo Alto Hills
on Aug 13, 2010 at 8:48 am

Ellison is right, they should have kept Hurd, sensored him, and allow
him to lead HP to a bigger & more profitable company. Now HP, shareholders, employees have to follow the "other leaders"..


Like this comment
Posted by Sharon
a resident of Midtown
on Aug 13, 2010 at 10:28 am


HPQ is not alone

Cisco stock plunges 10 percent after CEO sees 'unusual uncertainty'

When Cisco Systems CEO John Chambers speaks, Wall Street listens. And when Chambers becomes cautious about the economic recovery, investors react -- as they did Thursday, causing Cisco's stock to plunge by nearly 10 percent.Web Link


The reality is that we are in a double dip recession---if Iran is attacked we will plunge into a global economic depression.


Like this comment
Posted by Ronald L.
a resident of Downtown North
on Aug 13, 2010 at 11:25 am

Had Larry Ellison founded the company, I might care what he thinks.
Fortunately, HP was founded by two men who insisted the company
aspire to the highest ethical standards in the business. The board
was right to let go of Mark Hurd.


Like this comment
Posted by Fox News
a resident of College Terrace
on Aug 13, 2010 at 11:28 am

The main reason for the current economic slump is relentless whining on Fox News. As Rush Limbaugh says, the easiest way to defeat Obama is to ruin the country then blame it on him.


Like this comment
Posted by FISHy
a resident of Another Palo Alto neighborhood
on Aug 13, 2010 at 11:57 pm

The whole thing is FISHy. Why would Hurd pay her off and then she sue for sexual harassment? How could Jodie state that she didn't want him fired? There was some planning somewhere along the way. We aren't seeing all the facts. I think she wanted the fame and he wanted out or the Board wanted him ousted and grabbed for anything to get him out.


Sorry, but further commenting on this topic has been closed.