Last Friday, HP CEO Mark Hurd resigned amidst sexual harassment allegations that his former employer chose to make public. Monday, in a letter to the New York Times, Oracle CEO Larry Ellison did not mince words about his thoughts on the forced resignation of Mr. Hurd. “The H.P. board just made the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago. [...] In losing Mark Hurd, the H.P. board failed to act in the best interest of H.P.’s employees, shareholders, customers and partners. The H.P. board admits that it fully investigated the sexual harassment claims against Mark and found them to be utterly false.” Ellison went on to say, “publishing known false sexual harassment claims is not good corporate governance; it’s cowardly corporate political correctness.” Hurd, who had been with HP for five years, is set to receive a severance package of cash and stock worth an estimated $28 million. At least he won’t go away empty handed? More →
Here’s a list we wouldn’t mind being on. A recent Wall Street Journal study found that Larry Ellison, Oracle’s CEO, has received over $1.84 billion in compensation over the last decade, making him the highest paid CEO in the world. The WSJ estimates Ellison’s personal worth at roughly $28 billion. Another notable tech persona on the list is Steve Jobs. While Jobs only grosses $1 annually in salary his compensation package is quite lucrative. The study estimates that Jobs has received over $749 million over the last 10 years, and ranks fourth on the CEO list. The prophet Christopher Wallace once said, “more money, more problems” (I think technically it was “mo money, mo problems” but you get the point)… wouldn’t you love to have a shot at that inconvenience? More →
While speaking at the Red Hat Middleware 2020 virtual conference, Google’s Josh Bloch expressed serious concerns over the direction of Oracle’s recently acquired Java platform. Commenting that it has “appeared rudderless for the last few years”, Bloch went on to say that “technical and licensing disputes over the last few years have been highly detrimental. They’ve sapped the energy of the community and caused plenty of bad press.” Although he was clear to underscore the fact that the issues predate the buyout of Sun Microsystems, Bloch challenged Oracle to “take the lead of Java once again.” Specifically, he would like to see Oracle push out newer versions of the platform at a faster pace, make firm commitment to the swift release of Java 7, bolster support for the Java Community Process, and replace the woefully underpowered Java 2 Micro Edition. Bloch doesn’t believe hope is lost for Java and that “Java will remain a dominant platform in the enterprise space”, but if it doesn’t make the changes now, the King will go from having a cold to being gravely ill. More →
Recession be damned — it looks like Oracle will still manage to scrounge up enough cash to take Sun Microsystems off the table. Early last month IBM withdrew its $7.5 billion acquisition offer and as most people presumed, Sun was probably kicking itself. All is hardly lost however, as Oracle has nearly matched the offer and Sun won’t be making the same mistake twice. While it’s not a done deal until the papers are signed and the lawyers take their cut, Oracle has agreed to the $7.4 billion acquisition agreement which amounts to about $5.6 billion net of Sun’s cash and debt. According to Sun, the deal is expected to add approximately $1.5 billion to Oracle’s operating profit in the first year and around $2 billion in year two. Oracle recorded $17.8 billion in software sales last year and with Sun’s resources and product line at its disposal, expect that figure to balloon in spite of harsh economic times.