This post is written as part of AOL Money & Finance's Best & Worst 2006. If you think this was the dumbest moment in business, cast your vote here.
What were Hewlett-Packard Company (NYSE:HPQ) executives thinking when they allegedly authorized the unlawful accessing of records and conversations to get to the bottom of leaks that appeared as if they were coming from inside HP's board of directors?
The executives -- and HP chair Patty Dunn among them -- probably thought they were acting in the best interests of the company and HP shareholders in trying to find out who continued to leak stories and confidential information to the outside world. A few small snags arose, though -- the means by which all this spying took place contained loads of illegal activity, although as an executive officer I would have wanted to track down leak sources as well -- even inside my own board.
Regardless of the nepotism on the board and who-knows-what-else political bickering, the first duty is always to the shareholders. Protecting confidential information from outside sources that could impact market price and other factors is right up there. Does the HP spying scandal count as one of the dumbest moments in business of the year? Well, it gets my vote for #1 -- how about you?
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Reader Comments (Page 1 of 1)
12-14-2006 @ 7:58AM
Al McMann said...
where do u think Hewkett-Packard will go as to Price of Stock
12-14-2006 @ 7:57AM
Al McMann said...
What's the future of HPQ? Good or bad?
12-15-2006 @ 5:01AM
Bruce said...
Well I will certainly not be buying any HP products. I will even put up a "boycott HP" web site. I hope those involved get convicted to hard time and get sodomized often by fellow inmates. It will be fun to tell everyone I know to avoid HP products and services.
12-28-2006 @ 7:40AM
Storm Gage said...
No doubt the stock in this particular industry can only go in one hard direction - DOWN - everyone has these items and customer service will be the competing factor - do I want to have my call for customer service handled by "Mike" in the turbulent Middle East or deal with a company that values it's United States of America employees. Hmmmm.