"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Tuesday, September 7, 2010

Average duration of unemployment for mere mortals is 33.1 weeks, duration of a CEO who "demonstrated a profound lack of judgment" is ONE MONTH

On September 3, 2010, the U.S. Bureau of Labor Statistics reported the average duration for unemployment benefits was 33.1 weeks during August 2010. They also reported that 42.5% have collected unemployment benefits for 27+ weeks.

Coincidentally, Mark Hurd resigned from Hewlett Packard on 8/7/10. The Hewlett Packard Board of Directors noted that Mark Hurd "demonstrated a profound lack of judgment that seriously undermined his credibility and damaged his effectiveness in leading HP”. Given the challenging employment environment in the U.S., the Board rewarded Mr. Hurd's profound lack of judgment with a $40+/- million severance package.

Mark Hurd is well versed with overall employment conditions given 50,000 job cuts announced during his 5 year tenure at Hewlett Packard. Mr. Hurd's 2009 (pre profound lack of judgment) compensation package was roughly $29 million. In an effort to make ends meet, Mark filed to sell $30 million of Hewlett Packard stock on August 23rd.

Mark Hurd has proven that he is not a mere mortal as not only did he find a job in one month, he gets to play a President and Board of Directors member at Oracle. This superhuman executive will report directly to Larry Ellison, another superhuman.

As a mere mortal, good luck securing employment after submitting false expense reports to one's prior employer. Not only do super humans secure employment, their new stock options rise 8% on just the announcement.

Casting a shadow requires substance Mr. Hurd and mere mortals with character become great role models for our children and grandchildren.

Abraham Lincoln
Character is like a tree and reputation like its shadow. The shadow is what we think of it; the tree is the real thing.

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