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HP Shouldn't Pay for Hurd's Mistakes - Today's Outrage

Mon, 09 Aug 2010 11:14:04 EDT

NEW YORK (TheStreet) --HP's ousted and disgraced Chairman and CEO Mark Hurd screwed up and investors have to pay for it.

I don't get it.

Despite concluding that Hurd's conduct "displayed a profound lack of judgment", HP gave him a big-money sendoff to the tune of $12.2 million in severance payments, an extension of the deadline to cash in options on 775,000 HP shares, pro-rata vesting and settlement of 330,177 performance-based restricted stock units, settlement on December 11, 2010 of 15,853 time-based restricted stock and eligibility for continued group medical and dental coverage for up to 18 months., according to an SEC filing retrieved through EdgarOnline. ...

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Activist: Why Ackman Failed vs. Target

Wed, 03 Jun 2009 02:19:41 EDT

"Activist Investor" Eric Jackson publishes commentary every Wednesday. Please bookmark TheStreet.com and check back each week for more analysis of shareholder rights issues or click here for an RSS feed.

When Bill Ackman of Pershing Square Capital Management attended Target's annual meeting in suburban Milwaukee last Thursday it was the final culmination of a months-long proxy fight with the company's incumbent board. Although some observers, including me, predicted Ackman's slate would win one or two seats out of the five he was seeking, he came away empty-handed. Target announced at the meeting that all incumbent directors were re-elected with at least 70% of the vote.

The mainstream press immediately declared it a rout against Ackman. "Target Triumphs Over Ackman" said BusinessWeek, "Ackman Misses Target" said the New York Post. The New York Times headline read, "Target Shareholders Strongly Reject Dissident Slate." ...

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Activist Investor: Ackman Vs. Target

Wed, 27 May 2009 00:07:06 EDT

The much-anticipated annual meeting of retailer Target is Thursday and large shareholder Bill Ackman of Pershing Square has been in a long-running battle for the past several weeks to win five seats on the board.

Ackman has spent $10 million to $15 million of his own money on his campaign thus far. Although he's won over the support of two influential proxy advisory firms -- RiskMetrics and Proxy Governance -- he faces a daunting task in winning Thursday's vote. In its latest issue, Barron's magazine proclaimed that Ackman's campaign was "off-target," stating that "Ackman's initiative could be one of the worst-conceived efforts in recent years by an activist investor." ...

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