penniless 0 #1 February 12, 2005 What a travesty. Why isn't she just thrown out like a low level failure would be? Bloomberg News Published February 12, 2005 PALO ALTO, Calif. -- A filing Friday with the Securities and Exchange Commission details the $21.4 million severance package given to Carly Fiorina, ousted chief executive officer at Hewlett-Packard Co. Fiorina will receive $14 million of that in cash, Hewlett-Packard said. She was paid $8.15 million in 2004 in salary, bonus and options, a jump from the $6.64 million compensation package she received in 2003. The package is down from the $10.7 million total in 2002. Hewlett-Packard asked Fiorina to resign Wednesday after her $18.9 billion purchase of Compaq Computer Corp. failed to produce the profits she promised. Fiorina also will receive a $7.38 million payment related to bonuses and $50,000 for outplacement and financial counseling. Between fiscal 1999 and 2003, Fiorina was paid $159 million in cash, stock, benefits and options. Fiorina, recruited from Lucent Technologies Inc. in 1999, staked her reputation on the 2002 Compaq purchase. The acquisition failed to boost profit and Hewlett-Packard lost its lead in the personal computer market to Dell Inc. The company struggled to make money on storage devices and report consistent gains in sales of servers. Quote Share this post Link to post Share on other sites
EBSB52 0 #2 February 12, 2005 QuoteWhat a travesty. Why isn't she just thrown out like a low level failure would be? Bloomberg News Published February 12, 2005 PALO ALTO, Calif. -- A filing Friday with the Securities and Exchange Commission details the $21.4 million severance package given to Carly Fiorina, ousted chief executive officer at Hewlett-Packard Co. Fiorina will receive $14 million of that in cash, Hewlett-Packard said. She was paid $8.15 million in 2004 in salary, bonus and options, a jump from the $6.64 million compensation package she received in 2003. The package is down from the $10.7 million total in 2002. Hewlett-Packard asked Fiorina to resign Wednesday after her $18.9 billion purchase of Compaq Computer Corp. failed to produce the profits she promised. Fiorina also will receive a $7.38 million payment related to bonuses and $50,000 for outplacement and financial counseling. Between fiscal 1999 and 2003, Fiorina was paid $159 million in cash, stock, benefits and options. Fiorina, recruited from Lucent Technologies Inc. in 1999, staked her reputation on the 2002 Compaq purchase. The acquisition failed to boost profit and Hewlett-Packard lost its lead in the personal computer market to Dell Inc. The company struggled to make money on storage devices and report consistent gains in sales of servers. Classism is just a figment of our imaginations. There is a relative component between amount of hard work and amount of reward. .... This, of course is bullshit; we are a classist nation that as of the last 25 years has modified of Socioeconomic and political agenda to Fascism. This reminds me of when we worked at Boeing and some CFO lady came in for a number months, and was then paid millions for it while we were paid shit. Get used to it or get out. Governmental and corporate America care not about the current demographic of America. As far as they're concerned the current status quo can leave and be replaced by Mexican Nationals that will gladly work for minimums and not complain. I say to give them what they want. There used to be an ethic amongst all Americans at all economic levels to maintain a certain standard for all Americans. Since the Fascist Reagan era, that is gone, labor unions are gone, and corporations are running country for the greatest margin of prifit. What do the poor and middle class conservative Americans do? They fasciilitate it. Unconscionable. Quote Share this post Link to post Share on other sites
mnealtx 0 #3 February 12, 2005 In answer to the OP: "I'll take 'a bulletproof contract' for $21.4 mil, Alex"Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
skydyvr 0 #4 February 12, 2005 QuoteClassism is just a figment of our imaginations. Could you please learn to properly snip the posts you quote? Sometimes I have to page down 2-3 times to get past them, to the posts I actually want to read. . . =(_8^(1) Quote Share this post Link to post Share on other sites
Dougiefresh 0 #5 February 12, 2005 Quote$50,000 for outplacement and financial counseling Yeah, she needs counseling to manage all that cash. Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so. --Douglas Adams Quote Share this post Link to post Share on other sites
MC208B 0 #6 February 12, 2005 Hey, she's got to eat to you know! Quote Share this post Link to post Share on other sites
GravityGirl 0 #7 February 14, 2005 Oh. Cool. New job opening. I'll forward my resume now! ~~~~~~~~~~~~~~~~~ Peace and Blue Skies! Bonnie ==>Gravity Gear! Quote Share this post Link to post Share on other sites
gjhdiver 0 #8 February 14, 2005 QuoteWhat a travesty. Why isn't she just thrown out like a low level failure would be? Because like any high level CEO, she had a cast iron employment contract going into the job that guaranteed her payoff. Remember, in life you don't get what you deserve, you get what you negotiate. Her payoff is small fry compared to the NYSE's Michael Grasso, though that is under review. Quote Share this post Link to post Share on other sites
billvon 2,462 #9 February 14, 2005 >Why isn't she just thrown out like a low level failure would be? If said low level failure had the smarts to negotiate a 21 million dollar golden parachute into their employment contract, then that low level failure would be getting the same package. Of course, most low level failures don't have the business smarts/education/experience/resume to get such a clause added to their contract. Quote Share this post Link to post Share on other sites
rehmwa 2 #10 February 14, 2005 Quote>Why isn't she just thrown out like a low level failure would be? If said low level failure had the smarts to negotiate a 21 million dollar golden parachute into their employment contract, ...... I really couldn't read past that point as it all fell apart right there. But imagine the horrible economy if everyone could negotiate a contract like that. "demand" would completely drive the cost of "supply" out of control. ... Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants Quote Share this post Link to post Share on other sites
billvon 2,462 #11 February 14, 2005 >But imagine the horrible economy if everyone could negotiate a contract like that. Yep. The idea that less-skilled people make less money (and get poorer employment contracts) is more or less central to a free market economy - even though some people think such a concept is "classist" or something. In the end, low level failures are pretty much defined by their inability to get multi million dollar contracts in the first place. Quote Share this post Link to post Share on other sites
