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September 10, 2006
Black Smoke from HP
In case people didn't see it, HP's board released the following statement earlier today on the Patricia Dunn deliberations:The HP board of directors met for several hours Sunday morning. It has agreed to reconvene late Monday afternoon. No further statement will be forthcoming from the company before that time.While "no news" isn't good news for Ms. Dunn's as chair, it's surprising that the company wouldn't try harder to make a decision before the market opens on Monday. Uncertainty isn't exactly a balm for one's stock.
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Hi Paul,
Like you, I am very surprised that the stalemate is that strong that the board couldn't decide one way or another before the market opens tomorrow. Maybe they looked at the HPQ stock prices in the last few days and thought that the market didn't really care about their fight, the SEC investigation, California AG investigation, etc.
Of course, the human capital (those with two legs that walk in and out of the buildings) might have fled HPQ in their mind already. If I am a smart engineer and there are companies like Google to work for, why brother with a company like HP? It is really sad.
Just my 2 cents,
Kempton