Former HP bloke flogs his shares

The former winer and diner of soft porn stars, Mark Hurd has been doing something else very odd with his bulging  portfolio.

Hurd, who was asked to stand down from his CEO job in HP, seemed to have suddenly lost a lot of confidence in the outfit.

This week he filed to flog more than $30 million worth of HP shares.

Hurd informed the U.S. Securities and Exchange Commission that he intended to sell up to 775,000 restricted shares of H-P. The transaction was planned for August 23 and was to be conducted by Bank of America Merrill Lynch unit.

When he sold the shares they were worth $30.3 million, the Wall Street Journal said.

There can be any number of reasons why Hurd wants to flog that many shares. After leaving HP he could find himself short of readies. After all, meals for his security guard and “a guest” at swanky restaurants do not come cheap.

Equally he could be looking to set up a little business of his own.  Perhaps something involving his arts and crafts side, working with wood or cane.

There is a more alarming possibility. After his years at the helm he saw doom emerging on the horizon and thought the shares were not going to be worth as much in a few years’ time.

Of course this is all idle speculation first thing on a Monday morning, but it could be a warning to all idle speculators with shares in HP.