The Itchy Edition

Well, it looks like the folks at Hewlett-Packard are beginning to get the picture. A month back I posted about HP CEO Mark Hurd's reported $42.5 million compensation in 2008, all while HP laid off 25,000 employees. Last week, HP announced salary cuts.

Unfortunately, the pay cuts are across the board. The CEO will take a 20% cut, other execs will see a 15% cut, and managers a 10% cut. All other employees will receive a 2.5 - 5% cut. Given that Hurd's salary is only (ha) $1.5 million of that $42.5 million figure, I'd rather see a total compensation cut at the CEO and exec levels. But even Hurd's cut will mean about 5 more people 20 more people like Scoob will get to keep their jobs.

Speaking of Scoob, he's seriously stressed out about all this. We're in the middle of trying to refinance the house and a pay cut doesn't help matters. Add to that the fact that property taxes are due, and it's just regular tax time as well, and the poor guy is about to implode.

Actually, I think the stress has caused him to break out in hives. On Friday he started getting strange bumps on his forearms. Given his allergies, at first we thought it was a feather pillow, but he's been using that pillow for years. I haven't changed laundry detergent, or fabric softener. We did recently switch bar soaps, but he hasn't used a new one yet.

The only real recent change in the house has been the litter box and the litter we use in it. All I can think of is that the cats have trace amounts of something from this litter on their coats and it makes contact with Scoob's arms when he pets or holds them. We made the switch about 2 weeks ago, so this seems like a very delayed reaction.

Anyhow, he's been using calamine lotion to help with the itching and an anti-bacterial ointment to prevent infection. I convinced him to take a benadryl tab last night just in case it is an allergic reaction. But he got up this morning and took another--so he's going to be pretty much comatose for the day.

He mumbled something about being hungry around 10:30 so I made him something to eat. But I couldn't get him to wake up enough to eat it, and that was 3 hours ago. I've made him agree to make a doctor's appointment if the bumps haven't cleared up by tomorrow.

It Ought to Be a Crime

I don't like to dwell much on things I have no control over, but I'm going on a mini-rant, 'cause if I go for a full rant I'll probably explode.

So Scoob works for Hewlett-Packard. He's worked there 15 years; 3 as a contractor and the last 12 on payroll. He has received one, count 'em, one, 2% raise in the past 7 years, and in that time his workload has easily quintupled. More than that actually. He used to be responsible for 5 wizzy-whigs, now he's responsible for 90 whizzy-whigs and managing other people (not that his job classification has changed).

Hewlett-Packard laid off nearly 25,000 employees last year due to "the poor economy" and "restructuring." They have plans to lay off another 2,600 in the next few months.

Yet, Hewlett-Packard reported to the Securities and Exchange Commission that CEO Mark Hurd's total compensation for 2008 was in the neighborhood of $42.5 million. MILLION. Other high level executives were reportedly compensated in the $20 million range.

Just last week, managers at Hewlett-Packard met with their project teams for brainstorming sessions on how to save the company more money. Well, I can see some glaringly obvious opportunities for saving some money—a helluva lot more money than cancelling holiday parties, turning down the thermostat, and taking away the free coffee and tea in the break room would.

Where is the Board of Directors in all this? They approve the CEO's compensation. I bet their compensation packages are just as padded, even though corporation Boards typically only meet once per fiscal quarter. Where are the shareholders? Your Board is not protecting your interests when it approves such astronomical compensation packages.

We're just frustrated. As Scoob says, "Hell, even the mafia takes care of its people." Scoob actually likes the work he's doing, but it's getting awfully difficult to want to go to work everyday and give 100%.

All I can say is W.T.F. It's just obscene.