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Author: DrtThrwingMonkey Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 211753  
Subject: Re: 5 stars to Chanos who bashed hpq Date: 11/21/2012 4:56 PM
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It's an unfortunate reality that in a money-centric society that almost anything can be overlooked, forgiven, or rationalized away providing the apologists haven't suffered a significant financial loss, more likely, they've seen financial gains.

Taken a step further, we find ourselves in the situation that some CEOs who have stiffed their shareholders by engaging in risky and greedy behavior fueled by personal greed and ego keep their jobs and their multi-million dollar salaries in spite of everything. But, I hardly think Meg Whitman is among their ranks, hers, it seems, was a sin of omission.



As a shareholder, I plead guilty to having a money-centric view of the CEOs that run my investments. My outrage about whether someone has front run a trade or had an extra-marital affair will be very mild if their foibles have not cost me money.

But I agree with you that Whitman's sins are not on the same scale as, say, Apotheker's. His was a sin of commission, and her's was a sin of acquiescing to his proposal.

That said, I cannot agree with the HP board which thinks it is enough to get rid of the 2 board members who they say have committed this acquisition, while excusing those on the board (including Whitman) who have allowed it to be committed. If we don't fire the board that let such an egregious acquisition slip by, what kind of message are we sending to all the other boards? They should know that their approval of a really awful acquisition might cost them their job, in addition to their bonuses and golden parachutes (like Apotheker's $25 million!!), for which their contracts should include a clawback.

Regards, DTM
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