long knives
Long Knives - The HP saga just gets more insane. One HP board member writes a letter explaining why he voted against the rest of the board, so the rest of the board writes a letter calling him a senile kook. Paraphrased, “he’s a musician and academic who knows nothing about business.” Of course, that’s not what they said when they nominated him for the board positions. Shareholders have got to be wondering who else on the board was misrepresented when being nominated. Apparently board members are considered competent based on how well they unanimously agree with the rest of the board. I’m sure shareholders are also wondering how it is “in the interests of the shareholders” to spend shareholders’ money on television commercials lobbying to convince them to vote a certain way. Do shareholders get to vote about whether or not they would like to spend their own money being told how to vote? I’m sure I don’t know the whole story, but it seems pretty cutthroat.