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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Wally Mastroly who wrote (17527)3/1/2003 12:03:40 PM
From: Kirk ©  Read Replies (1) of 42834
 
OT HP/Compaq Merger

The pay packages proposed for the executives AND the top 1000 or so "Technical contributors" was one of the reasons I voted against it. In effect, they paid the top technical leaders at HP to promote the deal since the top technical contributors would get $600M or so to stay if the merger went through. Who would not promote the deal if you knew you would get a 1yr pay bonus? I argued that most would have a hard time finding a job anyway so it was not needed. They would not be so quick to leave as it was, especially if they were cutting jobs. To me, it was a payoff to those leaders others look to for advice. I know as I was a "technical contributor" level person when I was there until a political reorg.... Anyway, Carly basically paid Capellas to pitch the deal inside and outside is the way I see it.

BTW, I think one solution is to reguire all boards of public companies to have one member that is a small stock holder with no other ties or connections to ANY large company. Perhaps a retired accountant or engineer with $100K in the stock. Too often they approve raises and pay packages with the understanding that the cross pollenation of BOD members will mean they will later get their hefty raise. I then think another member should be an employee, but it would take a brave emplopee to vote against what the CEO wants...
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