A selection of HP International news for HP Workforce brought to you by CFTC HP since 2005.
October 05, 2005
"I Want HP to be a boring company"
18 comments:
Anonymous
said...
When HP repatriates 14,5 billions dollars of profit…
American Jobs Creation Act of 2004—Repatriation of Foreign Earnings (page 21) The Jobs Act, enacted on October 22, 2004, provides for a temporary 85% dividends received deduction on certain foreign earnings repatriated during a one-year period. The deduction results in an approximate 5.25% federal tax rate on the repatriated earnings. During the third quarter of fiscal 2005, HP's chief executive officer and Board of Directors approved a domestic reinvestment plan as required by the Jobs Act to repatriate $14.5 billion in foreign earnings in fiscal 2005. HP recorded additional tax expense in the third quarter of $788 million ($0.27 per share) related to this $14.5 billion dividend under the Jobs Act. The additional tax expense consists of federal taxes of $744 million, state taxes, net of federal benefits, of $73 million, and a net tax benefit of $29 million related to an adjustment of deferred tax liabilities on both repatriated and unrepatriated foreign earnings. HP repatriated $7.5 billion of the planned dividend under the Jobs Act in the third quarter and expects to repatriate the remaining $7.0 billion in the fourth quarter of fiscal 2005.
From the « St Petersburg Times » HP wouldn’t spend this money to create new job in USA… http://www.sptimes.com/2004/10/14/Opinion/Corporate_giveaway_de.shtml
How much cost a Dream CEO team to build a boring company? Mark Hurd salary = 1.4 millions $ Welcome bonus = 2.0 millions $ (a year) HP's Pay-for-Results (PFR) = 200% à 600% of 1.4 (per year) HP's Long-Term Performance Cash program (LTPC) = from 300% to 900% of the basic salary (dispatch over 3 years) Stock Options = 700 000 Stocks = 400 000 (equivalent 11.2 millions $ with HPQ= 28$) house removal cost = 2.75 millions $
Randall Mott Salary = 0.69 millions $ (a year) Welcome bonus = 2.2 millions $ HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year) HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years) Stock Options = 500000 stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$) house removal cost = 1 millions $
Todd Bradley Salary = 0.75 millions $ (a year) Welcome bonus = 1 millions $ HP's Pay-for-Results (PFR) = 125% à 375% of .75 M$(per year) HP's Long-Term Performance Cash program (LTPC) = 2.76 millions $ (dispatch over 3 years) Stock Options = 400000 stocks = 100000 (equivalent 11.2 millions $ with HPQ= 28$) house removal cost = 0.18 millions $ But it’s not enough for this dream team : Profits 2004 = 3,5 M$ R&D investments 2004 = 3,5 M$ HPQ stocks bought by HP 2003 = 1M$ 2004 = 2 M$ 2005 = 4 M$ (announced aout 05)
Stocks option gift -------------------- 2000 : about 2000 stocks 2001 : about 87000 srocks 2002 : about 300 stocks 2003 : about 250000 stocks 2004 : about 150000 stocks 2005 : 1 352 200 stocks already gived befor traditional Christmas gifts !!!!!!!! And it’s just before buying 4,5 billons $ HPQ stocks with the profit. 04/01 Mark Hurd 400000 (award) 06/14 Richard Braddley 100000 (award) 08/19 Robert Wayman 300000 (gift) We are very far from the HP way ... http://investor.hp.com/EdgarDetail.cfm?CIK=47217&FID=1047469-05-22690&SID=05-00
Next step, our boring CEO wants to sell the great profitable network division : PROCURVE. Just to do quick profit and to rise HPQ stocks...I am sad sad sad.
I can't claim to know what HP in France is demanding relative to other divisions. I don't know if HP in France is selling goods worldwide or mainly to people in France, either, (if they mainly produce for France, then the company culture should reflect the workers and clients more) and I am not necessarily a great supporter of everything within the French culture. However, some concepts they have right. People shouldn't ruin their health working, and particularly for a company that shows little to no loyalty to their employees, and in recent years HP has shown a poor attitude toward their long term and loyal workers, all in the search for better stock holder support and outrageous "gifts" and golden parachutes to upper management and execs. C.F. certainly did major damage to the company under her stewardship, as well.
As in France, family should come before workplace, and French culture has a better understanding of this, and offers better education and welfare for their children than many other countries, including the US.
The EU community is overall showing more leadership in making new and improved environmental standards, especially in areas of high tech, working on global climate change, etc.
Multinationals need to be more sensitive to the culture of the countries they hold offices and manufacturing plants within. Just because people at HP US may be willing to sacrifice there health and families for their job doesn't necessarily make it a good thing (for anyone other than HP execs and stock holders).
Companies need to develop more balance in how they function. Developing a race for the bottom, just because some countries' cultures allow for it, hardly makes it smart. It's not about the 1960's or 1970's, it about the fact that we hopefully have evolved far enough to recognize those approaches are hazardous and not beneficial. Some of the developing world is just entering an evolution we are hopefully just leaving. We should be in no rush to compete with what the workers in those countries will eventually recognize is a poorer set of values.
During the last years I have come to realize that the French are mostly just interested about themselves. Does not make me so sad, that they are (and will despite of all this nonsesne) get their fair share of these reductions.
And the quotes here on the pages are just like yellow press. "Being boring" sounds good to me, in case you understand what Mr Hurd is saying.
French HP employees are more impacted than the rest of the world with -26% instead of 10% of job cuts without explain! Second reason, France and Grenoble was the first HP site in Europe and loose PC division with Compaq merger for political reason (keep safe the Houston Compaq one). Third, the management lie to us (no reinvestments) and our pay rise still year after year under the life cost rise... The profit in Europe and France still good (50% of the WW profit) and M Hurd strategy is simply to cut job in "high cost country" and increase job in "low cost country" without market, employees and consideration. Then HP is starting to be a non equity brand in Europe. I think Q4 is not already impacted but some growth perspective would probably be lower as expected. That's all.
It's because French top managers want to make a career in HP and what is good for their career is to send messages, slideset etc against France and french people.
As a bad joke, the person responsible for job development in France & Grenoble is also the one complaining about french laws in corridors but guess what where is he living ?
For the blogger at 1:47am; I don't know who and where yuo are but you're boring, terribly boring. Not sure any company can succeed with only boring employes... Mark want to get money and will live. Nobody care about HP future, they just do care getting some $.
Boring, boring...I don't know if it's the good word...But Randy Mott (coming from Austin Texas Dell) is hired with lots of dollars to reduce internal IT HP cost; why not? But his strategy is like a 7 years kid. He decide to do 3 datacenters only for HP WW, 1 in Austin (of course!), one in Houston (Texas and Bush I love you!!!) and Atlanta. But the network link between USA and EMEA or ASIAPAC is limited and worth 32% of the network bandswith is already used by the Voip. That means internal HP IT will still dispatched for Exchange server and many different local server. It could be smart to do one Datacenter per area (EMEA, ASIAPAC and America) but it's not politically correct.
We also know how much R Mott cost before any optimisation : Randall Mott Salary = 0.69 millions $ (a year) Welcome bonus = 2.2 millions $ HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year) HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years) Stock Options = 500000 stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$) house removal cost = 1 millions $
18 comments:
When HP repatriates 14,5 billions dollars of profit…
American Jobs Creation Act of 2004—Repatriation of Foreign Earnings (page 21)
The Jobs Act, enacted on October 22, 2004, provides for a temporary 85% dividends received deduction on certain foreign earnings repatriated during a one-year period. The deduction results in an approximate 5.25% federal tax rate on the repatriated earnings. During the third quarter of fiscal 2005, HP's chief executive officer and Board of Directors approved a domestic reinvestment plan as required by the Jobs Act to repatriate $14.5 billion in foreign earnings in fiscal 2005.
HP recorded additional tax expense in the third quarter of $788 million ($0.27 per share) related to this $14.5 billion dividend under the Jobs Act. The additional tax expense consists of federal taxes of $744 million, state taxes, net of federal benefits, of $73 million, and a net tax benefit of $29 million related to an adjustment of deferred tax liabilities on both repatriated and unrepatriated foreign earnings.
HP repatriated $7.5 billion of the planned dividend under the Jobs Act in the third quarter and expects to repatriate the remaining $7.0 billion in the fourth quarter of fiscal 2005.
From the « St Petersburg Times » HP wouldn’t spend this money to create new job in USA…
http://www.sptimes.com/2004/10/14/Opinion/Corporate_giveaway_de.shtml
"The benefits of being boring".
For sure, this guy makes me dream...
How much cost a Dream CEO team to build a boring company?
Mark Hurd
salary = 1.4 millions $ Welcome bonus = 2.0 millions $ (a year)
HP's Pay-for-Results (PFR) = 200% à 600% of 1.4 (per year)
HP's Long-Term Performance Cash program (LTPC) = from 300% to 900% of the basic salary (dispatch over 3 years)
Stock Options = 700 000
Stocks = 400 000 (equivalent 11.2 millions $ with HPQ= 28$)
house removal cost = 2.75 millions $
Randall Mott
Salary = 0.69 millions $ (a year)
Welcome bonus = 2.2 millions $
HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year)
HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years)
Stock Options = 500000
stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$)
house removal cost = 1 millions $
Todd Bradley
Salary = 0.75 millions $ (a year)
Welcome bonus = 1 millions $
HP's Pay-for-Results (PFR) = 125% à 375% of .75 M$(per year)
HP's Long-Term Performance Cash program (LTPC) = 2.76 millions $ (dispatch over 3 years)
Stock Options = 400000
stocks = 100000 (equivalent 11.2 millions $ with HPQ= 28$)
house removal cost = 0.18 millions $
But it’s not enough for this dream team :
Profits 2004 = 3,5 M$
R&D investments 2004 = 3,5 M$
HPQ stocks bought by HP
2003 = 1M$
2004 = 2 M$
2005 = 4 M$ (announced aout 05)
Stocks option gift
--------------------
2000 : about 2000 stocks
2001 : about 87000 srocks
2002 : about 300 stocks
2003 : about 250000 stocks
2004 : about 150000 stocks
2005 : 1 352 200 stocks already gived befor traditional Christmas gifts !!!!!!!!
And it’s just before buying 4,5 billons $ HPQ stocks with the profit.
04/01 Mark Hurd 400000 (award)
06/14 Richard Braddley 100000 (award)
08/19 Robert Wayman 300000 (gift)
We are very far from the HP way ...
http://investor.hp.com/EdgarDetail.cfm?CIK=47217&FID=1047469-05-22690&SID=05-00
Next step, our boring CEO wants to sell the great profitable network division : PROCURVE.
Just to do quick profit and to rise HPQ stocks...I am sad sad sad.
I can't claim to know what HP in France is demanding relative to other
divisions. I don't know if HP in France is selling goods worldwide or
mainly to people in France, either, (if they mainly produce for France,
then the company culture should reflect the workers and clients more)
and I am not necessarily a great supporter of everything within the
French culture. However, some concepts they have right. People
shouldn't ruin their health working, and particularly for a company that
shows little to no loyalty to their employees, and in recent years HP
has shown a poor attitude toward their long term and loyal workers, all
in the search for better stock holder support and outrageous "gifts" and
golden parachutes to upper management and execs. C.F. certainly did
major damage to the company under her stewardship, as well.
As in France, family should come before workplace, and French culture
has a better understanding of this, and offers better education and
welfare for their children than many other countries, including the US.
The EU community is overall showing more leadership in making new and
improved environmental standards, especially in areas of high tech,
working on global climate change, etc.
Multinationals need to be more sensitive to the culture of the countries
they hold offices and manufacturing plants within. Just because people
at HP US may be willing to sacrifice there health and families for their
job doesn't necessarily make it a good thing (for anyone other than HP
execs and stock holders).
Companies need to develop more balance in how they function. Developing
a race for the bottom, just because some countries' cultures allow for
it, hardly makes it smart. It's not about the 1960's or 1970's, it
about the fact that we hopefully have evolved far enough to recognize
those approaches are hazardous and not beneficial. Some of the
developing world is just entering an evolution we are hopefully just
leaving. We should be in no rush to compete with what the workers in
those countries will eventually recognize is a poorer set of values.
First management censored part of a question asked to MH in England.
Second, the relating of this censorship is censored here.
could someone relate this censorship story here?
or point us on the time (...an hour and half of "boree talk"...) where we can see the question/answer on the uk intranet video.
--a human/citizen/french/(happy)/hp worker.
Intranet link is : http://hpbroadband.com/program.cfm?key=5903CEOTalk03Oct05
Between 1:13 and 1:19
Mark Hurd is talking about bad jobs and good jobs in HP. Bad jobs have to disappear and nobody hired himself in this company...
During the last years I have come to realize that the French are mostly just interested about themselves. Does not make me so sad, that they are (and will despite of all this nonsesne) get their fair share of these reductions.
And the quotes here on the pages are just like yellow press. "Being boring" sounds good to me, in case you understand what Mr Hurd is saying.
I'm french and I'm sad to read this... HP-way is really dead, not only at the head of this company but also at the ground floor.
French HP employees are more impacted than the rest of the world with -26% instead of 10% of job cuts without explain!
Second reason, France and Grenoble was the first HP site in Europe and loose PC division with Compaq merger for political reason (keep safe the Houston Compaq one).
Third, the management lie to us (no reinvestments) and our pay rise still year after year under the life cost rise...
The profit in Europe and France still good (50% of the WW profit) and M Hurd strategy is simply to cut job in "high cost country" and increase job in "low cost country" without market, employees and consideration. Then HP is starting to be a non equity brand in Europe.
I think Q4 is not already impacted but some growth perspective would probably be lower as expected.
That's all.
and you know why ?
It's because French top managers want to make a career in HP and what is good for their career is to send messages, slideset etc against France and french people.
As a bad joke, the person responsible for job development in France & Grenoble is also the one complaining about french laws in corridors but guess what where is he living ?
For the blogger at 1:47am; I don't know who and where yuo are but you're boring, terribly boring. Not sure any company can succeed with only boring employes... Mark want to get money and will live. Nobody care about HP future, they just do care getting some $.
A company which focusses only on cost reduction is declining.
Listen to Californian Radio KPFA (http://www.kpfa.org/archives/index.php?arch=10469)
They relate the strike and protest march in France of October 4th
It is between 53mn 17 and 57 mn 43.
Boring, boring...I don't know if it's the good word...But Randy Mott (coming from Austin Texas Dell) is hired with lots of dollars to reduce internal IT HP cost; why not? But his strategy is like a 7 years kid. He decide to do 3 datacenters only for HP WW, 1 in Austin (of course!), one in Houston (Texas and Bush I love you!!!) and Atlanta. But the network link between USA and EMEA or ASIAPAC is limited and worth 32% of the network bandswith is already used by the Voip. That means internal HP IT will still dispatched for Exchange server and many different local server.
It could be smart to do one Datacenter per area (EMEA, ASIAPAC and America) but it's not politically correct.
We also know how much R Mott cost before any optimisation :
Randall Mott
Salary = 0.69 millions $ (a year)
Welcome bonus = 2.2 millions $
HP's Pay-for-Results (PFR) = 100% à 300% of .69 M$ (per year)
HP's Long-Term Performance Cash program (LTPC) = 7 millions $ (dispatch over 3 years)
Stock Options = 500000
stocks= 285 000 (equivalent 11.2 millions $ with HPQ= 28$)
house removal cost = 1 millions $
HP's chief exec dismisses any 'me too' attitude :
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