Well, we might as well close the loop on this one. Last month, we told you how former HP CEO Mark Hurd was ousted by HP, complimented by Larry Ellison, and then hired by Oracle. We also told you how the Oracle hiring prompted a lawsuit from Mr. Hurd’s former employer. Now, the New York Times is reporting that the two sides have reached an agreement on the embattled executive’s future. In exchange for dropping the lawsuit, Hurd will forfeit nearly half of the $28 million compensation package he was given by HP. The former HP chief, and now Oracle President, will give up 330,177 shares of performance-based restricted stock and 15,853 shares of time-base restricted stock (that’s about $13.34 million using today’s stock price). Oracle and HP, who do quite a bit of business together, did their best to reassure stock holders that the two companies are on the mend. “Oracle and HP will continue to build and expand a partnership that has already lasted for over 25 years,” said Oracle CEO Larry Ellison. “HP and Oracle have been important partners for more than 20 years and are committed to working together to provide exceptional products and service to our customers,” said Cathie Lesjak, the CFO and interim CEO of HP. So ends this chapter of the Mark Hurd Chronicles.

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We just got a heads up that even though both parties agreed to an extension, the CWA just walked away from the bargaining table. Here’s a copy of an email sent out to AT&T employees, and also AT&T’s final offer to the CWA:

CWA walks away from Mobility Orange bargaining

Feb. 8, 2008 — Bargainers for the Communications Workers of America left the Mobility Orange bargaining table about 2:30 p.m. ET today, despite having requested and agreed to an extension of negotiations through 11:59 p.m. tonight, Sunday, Feb. 8, 2008.

The AT&T bargaining team remains available for discussions through the agreed-upon extension.

AT&T agreed to the extension based on assurances from the union that the parties were “close” to agreement.

AT&T is proud of this fair and reasonable offer during these difficult economic times when companies are cutting off 401(k)s, freezing salaries, and sometimes failing entirely, throwing employees out of work. Layoffs have surged — more than 600,000 last month alone — and unemployment levels are soaring. Many workers are voluntarily making sacrifices to help keep troubled companies afloat.

AT&T regrets that the union has chosen to walk away from the table.

Here is AT&T final offer to the CWA:

AT&T Mobility and Communications Workers of America – 2009 Orange Labor Negotiations
Highlights of the Company’s Last, Best and Final Offer
___________________________________________________________

Wages
•    Year 1         $850 Lump Sum Payment upon ratification by 2/27/09.
•    Year 2        Increases to bottom and top of wage tables of  2.25%.
•    Year 3        Increases to bottom and top of wage tables of  2.0%.
•    Year 4        Increases to bottom and top of wage tables of  2.0%.

•    Examples of the cumulative effect of these increases when combined with wage progressions are shown below:
o    The average Customer Service Representative I currently earning $24,440 per a year, and currently on step 8 of the wage progression table, will be earning $34,346 per year at the end of the contract.  This represents a total increase of approximately 40.5% over the life of the contract.
o    The average Retail Sales Consultant currently earning $26,364 (excluding commissions) per year, on Step 12, will be earning $31,902 (excluding commissions) at the end of the contract.  This represents a total increase of  approximately  21.0% over the life of the contract.

Pension/401k Plans

•    Current employees will maintain a 5% cash balance pension plan and continue eligibility under the existing 401k plan which includes an 80% match up to 6% of basic deferrals.
•    New hires after 1/1/10 will be eligible for a 100% match in the 401k up to 6% of basic deferrals.

New Titles
•    A new title, Client Service Specialist, will be created for use in call centers.  Employees currently in the Office of the President role will be moved into the new title.  The title will have a new table with a top wage rate equivalent to the current Customer Service Representative II and a new, improved start rate.  This breakthrough creates additional career opportunities in call centers.  Employees currently in the CSR I title moving to the new title will have the opportunity to move from a wage table with a current top of $621 per week to a new wage table with a top of $726 per week or approximately $5500 per year.
•    A new title, Workforce Administrator, will be created for use in consumer call centers.  Current employees in the workforce operations group holding the title of Clerk, CSR I or Administrative Assistant will be placed in the new title.  The title will use the same wage table as the current Administrative Assistant.  This will also create additional career opportunities in call centers.  Employees currently in the CSR I title moving to the new title will have the opportunity to move from a wage table with a current top of $621 per week to a new wage table with a top of $726 per week or approximately $5500 per year.  Employees currently in the Clerk title moving to the new title will have the opportunity to move from a wage table with a current top of $602 per week to a new wage table with a top of $726 per week or $6450 per year.
•    A new title, Wireless Technician, will be created.  Current Wireless Technician I and Wireless Technician II titles will be merged into the new title.  The current Wireless Technician II wage table will be used for this new title.  Employees currently in the Wireless Technician I title moving to the new title will have the opportunity to move from a wage table with a current top of approximately $1117 per week to a new wage table with a top of approximately $1304 per week or approximately $9700 per year.
•    Additionally, the Company committed to evaluate Customer Service Representative functions to determine if additional titles should be created in call centers.

JOB SECURITY

•    Surplus notifications for large groups will now be made 60 days in advance of a surplus, rather than 30 days.
•    Surplus employees will be given priority consideration for one year from the date of their surplus over external and internal candidates for vacancies they are qualified to fill.
•    A Joint Committee will be established when 40% of full time Retail Sales employees in a market fail to meet minimum sales performance requirements for the purpose of discussing possible causes and potential solutions.
•    Strengthened non-discrimination language in Article 15.
•    Net Credited Service (NCS) seniority tie breaker language added to determine who is most senior when two or more employees share the same NCS date.
•    The Union and the Company have agreed to jointly investigate the possibility of including AT&T Mobility employees in the Alliance.

Union-Management Relationship

•    Three Strategic Alliance Committees will be created to foster cooperation between the CWA and the Company.  Committees will address issues of interest to both parties on a scheduled basis.  One committee will be created for each of the following current CWA districts:
o    Districts 1/2/13
o    District 4
o    Districts 7 & 9
•    Renewed commitment regarding the collection of COPE deductions for the Union by the Company.

Scheduling-Retail

•    A new Retail scheduling tool will be piloted in ten locations during 1Q09 in an effort to provide realistic and usable schedules for employees

Safety

•    National Occupational Health and Safety Committee input may be used to develop employee training.

As unfortunate as it might be, it looks like our scoop this past Tuesday was indeed spot-on and AT&T Mobility reps could be preparing to strike as early as today. While often necessary, strikes are never a good thing and in almost all instances everyone involved hopes a strike can be avoided. Sometimes a good old fashioned picket sign-wielding march around HQ is inevitable however, and it’s looking more and more like that is the case for AT&T Mobility reps fighting for what they believe to more fair compensation, employment and working conditions.

Thanks for the image, Papi!

Here’s what we know: The Communications Workers of America (CWA) union has voted, with a huge 85 percent yes vote, to authorize a strike for over 20,000 unionized AT&T Mobility employees. If union leaders do not come to terms with AT&T, the strike could begin as soon as today in 37 states where contracts are set to expire at 12:01 am tomorrow, February 8th.

Here’s what we think (thanks, tipsters!): There will be several states that do not strike initially, if indeed AT&T Mobility workers do strike. Among those states are Texas, Arkansas, Kansas, Missouri and possibly Oklahoma and Indiana. Many of the workers in these regions may be called upon to cover heavily-trafficked stores in striking regions which will no doubt create a bit of tension. In fact, low-traffic stores in strike states may even be closed temporarily to provide more coverage in higher volume stores. Beyond that, we have word that staffing agencies are already being called upon (as early as this past Tuesday, in fact) to seek out coverage for stores in affected regions which certainly doesn’t go far to instill confidence on AT&T’s side of the bargaining table. Of course we’re hoping this is merely a cautionary measure and AT&T is still doing everything in its power to avoid a strike.

Any strike is not to be taken lightly but in today’s economic climate we’re rooting extra hard for both sides to put in overtime at the bargaining table until an amicable and mutually beneficial agreement can be reached. We also hope that striking AT&T employees bear the current economic conditions in mind when coming in contact with temporary workers. Millions of Americans have been laid off over the past year and work is work. In the end, let’s all just hope for a quick resolution so we can get back to making snarky comments about AT&T’s 3G speeds without the strike looming over our heads (joking fellas, you know we love you).

Thanks to everyone who sent this in!

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