Interesting, on the CBS News this morning, they were interviewing a senior
editor of "SmartMoney" magazine.  Their portfolio had increased some 500%
in recent times, and the editor was explaining the criteria they use to
choose stocks.  One of their rules was to avoid companies with overpaid
CEOs/inflated pay packages, because in her words, "these CEOs only care
about themselves".  Now, I wouldn't call HP's CEO's pay grossly inflated at
this point (supposedly 1 million bucks, no bonus last year), but if I see a
big bonus for merging, then I'm going to agree with this editor...this CEO
is only in it for herself.

John Lee

At 03:54 PM 4/9/02 -0500, Wayne Brown wrote:
>Walter Hewlett is Bill Hewlett's son.  That fact by itself makes HP's
treatment
>of him shameful.  Fiorina and the board owe their jobs to Bill Hewlett & Dave
>Packard, and their wishes (or since their passing, the wishes of their
families)
>should take precedence over everything else.
>
>If the merger goes through, it is my personal hope that the Hewlett and
Packard
>families will dump every share of HP stock they own or control, and
influence as
>many other shareholders as they can to sell their shares as well.  And if the
>lawsuit brings to light any facts that show HP officials broke any laws in
the
>course of getting the merger passed, then I hope Mr. Hewlett pursues criminal
>charges as well as civil action against them.
>
>
>
>
>
>Denys Beauchemin <[log in to unmask]> on 04/09/2002 03:06:14 PM
>
>Please respond to [log in to unmask]
>
>To:   [log in to unmask]
>cc:    (bcc: Wayne Brown/Corporate/Altec)
>
>Subject:  Re: [HP3000-L] OT: HP annual shareholder proxy
>
>
>
>Laws apply where the majority would blindly do things without thinking.
>
>At any rate, I was displeased with HP's decision to not have Walter H.
>nominated for election to the board.  Whilst I disagreed with him, I thought
>his dissent was actually good for HP, because it helped them prepare a
>better merger case.  I thought it was petty and vindictive of HP to simply
>drop hi.  I thought there might be ulterior motives or reasons for this
>seemingly stupid move.
>
>So, as opposed to simply venting blindly on HP3000-L as many uninformed
>people do, I went looking.  Last week at Solutions Symposium, I heard a
>rumor. Since I would not post a rumor without attribution (unlike some
>people who say, "I can't tell you who said this, but trust me on this!",)  I
>wanted confirmation. This week, I found an article seemingly confirming the
>rumor.  Here it is:
>
>http://www.examiner.com/business/default.jsp?story=b.hewlett.0402w
>http://www.theregister.co.uk/content/7/24663.html
>http://australianit.news.com.au/articles/0,7204,4058886%5e15465%5e%5enbv%5e1
>5306-15316,00.html
>
>
>In a nutshell, in the aftermath of the vote, the board of directors
>approached Walter Hewlett and wanted to make amends and move forward, with
>him remaining on the board.  He acquiesced but the next morning filed his
>lawsuit.  Nice guy, you can really trust him!  Par for the course.  He
>originally voted in favor of the merger at the board meeting and then
>campaigned heavily against it in public.  I would guess there is someone
>else telling him what to do, outside the board meetings, of course.
>
>
>Denys
>
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