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Oracle accuses HP of fraud in ex-CEO's settlement
SOFTWARE VENDOR Oracle has fired yet another salvo at HP in its ongoing feud, accusing it of fraud.
HP and Oracle have been at each other's throats for the best part of a year and relations seem to be as bad as ever. On top of everything else Oracle has now accused HP of fraud by claiming that it concealed facts during negotiations between the two firms over ex-CEO Mark Hurd's settlement.
Oracle's claim of fraud against HP pertains to Hurd's settlement following his removal from the firm for filing dodgy expenses reports. That lawsuit was settled quickly, but Oracle is now claiming that it was "fradulentely induced" into agreeing to the settlement.
According to Oracle, HP concealed the fact that it was about to hire Leo Apotheker, then CEO of software giant SAP as its CEO, and Ray Lane as its chairman. The beef between Apotheker and Oracle CEO Larry Ellison runs deep, and to make things even more tasty, Lane and Ellison don't get along either after Lane was fired from Oracle back in 2000.
HP spokeswoman Mylene Mangalindan told Reuters, "Rather than focusing on what is right for our joint customers, Oracle is relying on invented excuses to cover up its blatant disregard for its legal obligations."
Right from the get-go HP has used colourful language when referring to Oracle's legal actions, labeling them as "anti-customer". So it is no surprise that aside from claiming fraud, Oracle also claims defamation and intentional interference with its business against HP.
Given that the bad blood between HP and Oracle runs deep in both firms, it is safe to say that we can expect a few more episodes of what could become the most expensive information technology industry soap opera in history. µ
Tags: Software
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Jimbo, you got most of it right but, don't think that Mark Hurd was any better. He was considered as a good CEO by the world only because he made lay off into an art-form. Do you know how many people were asked to work for an additional week when they were given a notice in EDS when HP took it over, not to mention the pay-cuts that each employee had to take and three years without a hike during his term. He never made any money for the company by introducing any innovative product in the market. HP sustained itself by cost optimization techniques courtesy of Mr. Hurd and he had the audacity to steal from the company when, we were having no hikes and having pay-cuts.
Its not just him, the entire company is buried in bureaucracy, the give managers a lot of power to screw you during your reviews and when you are applying for a promotion. So, if you are really good at your job, the manager won't let you get promoted because it helps to have you around in the team whereas, people who are problematic are pushed to various departments or given promotions to keep them quite. Its not the CEOs they hire that need to be blamed completely, its their entire management.
HP's tag of "Invent" was removed to indicate they won't allow any one to innovate under their watch. They are more interested in playing out their stupid politics of who gains the upper hand and who gets the position.
After all, HP will shortly be just a memory under anti-hardware effing moron extraordinaire, Leo Apotheker. Just look at how he's managed to completely sabotage HP's position in the market and kill HP's global image with one fell swoop. And apparently, Apotheker is still running around in circles trying to figure out what went wrong so he ordered another production run of Touchpads 'cause they sell like hotcakes at $99!
Of course, the HP board is truly responsible for hiring him as his software-only background certainly didn't/doesn't mesh with the world's largest PC maker. I bet HP stockholders are crying in their beer now over the board's firing of Mark Hurd. He certainly wasn't perfect but quickly turned HP around after Carly Fiorina's amazing tenure nearly killed HP a few years ago. Do you see a pattern here? Who is the real villain, incompetent HP CEOs or the board of directors that chose them?
Yep, Larry Ellison should be ecstatic instead of firing shots at HP. Haven't read what Mark Hurd has done for/to Oracle, but it couldn't possibly match the damage Apotheker has done to HP in just the last two weeks. Chill out Larry, you've won. Just sit back and watch HP dissolve into oblivion. Hell, it's on the way now.
Is HP's policy to hire losers and thieves?