Well, we might as well close the loop on this one. Last month, we told you how former HP CEO Mark Hurd was ousted by HP, complimented by Larry Ellison, and then hired by Oracle. We also told you how the Oracle hiring prompted a lawsuit from Mr. Hurd’s former employer. Now, the New York Times is reporting that the two sides have reached an agreement on the embattled executive’s future. In exchange for dropping the lawsuit, Hurd will forfeit nearly half of the $28 million compensation package he was given by HP. The former HP chief, and now Oracle President, will give up 330,177 shares of performance-based restricted stock and 15,853 shares of time-base restricted stock (that’s about $13.34 million using today’s stock price). Oracle and HP, who do quite a bit of business together, did their best to reassure stock holders that the two companies are on the mend. “Oracle and HP will continue to build and expand a partnership that has already lasted for over 25 years,” said Oracle CEO Larry Ellison. “HP and Oracle have been important partners for more than 20 years and are committed to working together to provide exceptional products and service to our customers,” said Cathie Lesjak, the CFO and interim CEO of HP. So ends this chapter of the Mark Hurd Chronicles. More →
We just got a heads up that even though both parties agreed to an extension, the CWA just walked away from the bargaining table. Here’s a copy of an email sent out to AT&T employees, and also AT&T’s final offer to the CWA:
As unfortunate as it might be, it looks like our scoop this past Tuesday was indeed spot-on and AT&T Mobility reps could be preparing to strike as early as today. While often necessary, strikes are never a good thing and in almost all instances everyone involved hopes a strike can be avoided. Sometimes a good old fashioned picket sign-wielding march around HQ is inevitable however, and it’s looking more and more like that is the case for AT&T Mobility reps fighting for what they believe to more fair compensation, employment and working conditions.
Thanks for the image, Papi!