Comments on: Correcting Mark Hurd’s full plate… http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/ Morningstar's guide to what's hiding in SEC filings Fri, 10 Feb 2012 20:24:57 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: EDSER http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7422 EDSER Wed, 28 Jan 2009 08:55:28 +0000 http://www.footnoted.com/?p=3252#comment-7422 "if you cant convince them...confuse them" I suspect the original figure was correct and an unsuspecting clerk released it unadulterated. Then seeing the damage it could do (considering how HP rank and file are being treated at the moment) this new 'revised' figure was released. Either that or HP is telling the truth ;o) “if you cant convince them…confuse them”

I suspect the original figure was correct and an unsuspecting clerk released it unadulterated. Then seeing the damage it could do (considering how HP rank and file are being treated at the moment) this new ‘revised’ figure was released.

Either that or HP is telling the truth ;o)

]]> By: Michelle Leder http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7416 Michelle Leder Mon, 26 Jan 2009 23:28:15 +0000 http://www.footnoted.com/?p=3252#comment-7416 I think @JR is on the money here (pardon the pun) to question how much money was spent on this correction. We'll be keeping an eye out for HP's corrected proxy. But in the meantime, I don't think I'm alone in wondering what other numbers that HP has put out may be subject to corrections. A story on Real Money today by Eric Jackson (behind a wall) also raises these questions. I think @JR is on the money here (pardon the pun) to question how much money was spent on this correction. We’ll be keeping an eye out for HP’s corrected proxy. But in the meantime, I don’t think I’m alone in wondering what other numbers that HP has put out may be subject to corrections. A story on Real Money today by Eric Jackson (behind a wall) also raises these questions.

]]> By: mark http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7415 mark Mon, 26 Jan 2009 23:16:00 +0000 http://www.footnoted.com/?p=3252#comment-7415 The 79k is likely the meals total, on which the tax was the $4117, since this is a aprox 5% of the larger figure. The 79k is likely the meals total, on which the tax was the $4117, since this is a aprox 5% of the larger figure.

]]> By: JR http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7413 JR Mon, 26 Jan 2009 19:30:36 +0000 http://www.footnoted.com/?p=3252#comment-7413 Arguably this is just as bad as if it were a 79k payment. 24 Mln cash comp and he can't pay 4k in taxes? I make no judgment on Mr. Hurd's cash and equity comp. He has done a great job at HP. If his board thinks he deserves it, and current SEC proxy rules entrench the Board, then so be it. But his time, or most likely his assistant(s) time in documenting this, HP finance staff time in recording and reporting it, and E&Y's hourly charges to audit this, not to mention the time it took to recheck and do it correctly, surely have to add up to much more than triple this number. Eliminate tax gross ups along with LT cap gains treatment for private equity carried interest. Two changes that would be a great start to bringing fair treatment to the tax code. Arguably this is just as bad as if it were a 79k payment. 24 Mln cash comp and he can’t pay 4k in taxes? I make no judgment on Mr. Hurd’s cash and equity comp. He has done a great job at HP. If his board thinks he deserves it, and current SEC proxy rules entrench the Board, then so be it.

But his time, or most likely his assistant(s) time in documenting this, HP finance staff time in recording and reporting it, and E&Y’s hourly charges to audit this, not to mention the time it took to recheck and do it correctly, surely have to add up to much more than triple this number.

Eliminate tax gross ups along with LT cap gains treatment for private equity carried interest. Two changes that would be a great start to bringing fair treatment to the tax code.

]]> By: Michelle Leder http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7411 Michelle Leder Mon, 26 Jan 2009 17:47:36 +0000 http://www.footnoted.com/?p=3252#comment-7411 @T: Funny! On a more serious note, I've been doing a bit more research on this correction and just realizing all of the comments, like <a href="http://blogs.moneycentral.msn.com/topstocks/archive/2009/01/21/h-p-chief-s-family-sure-likes-to-eat.aspx?PageIndex=1 rel="nofollow">here</a> that probably prompted HP's correction this weekend. There were a lot of unhappy HP folks out there. @T: Funny!
On a more serious note, I’ve been doing a bit more research on this correction and just realizing all of the comments, like here that probably prompted HP’s correction this weekend. There were a lot of unhappy HP folks out there.

]]> By: eal http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7410 eal Mon, 26 Jan 2009 17:33:41 +0000 http://www.footnoted.com/?p=3252#comment-7410 turns out HP says this was a "mistake" should have been $4117. See end of this article http://www.mercurynews.com/ci_11532260?IADID=Search-www.mercurynews.com-www.mercurynews.com turns out HP says this was a “mistake” should have been $4117. See end of this article

http://www.mercurynews.com/ci_11532260?IADID=Search-www.mercurynews.com-www.mercurynews.com

]]> By: T http://www.footnoted.com/blog-notes/correcting-mark-hurds-full-plate/comment-page-1/#comment-7409 T Mon, 26 Jan 2009 16:52:20 +0000 http://www.footnoted.com/?p=3252#comment-7409 Maybe they borrowed Prince Alaweed's accountants to redo the calculations (they originally said he would lose $8.0+ B and then came back with a restated modest profit). Maybe they borrowed Prince Alaweed’s accountants to redo the calculations (they originally said he would lose $8.0+ B and then came back with a restated modest profit).

]]>