That’s right, the market cap of MSFT just passed one trillion. And Oracle? Well, stick around $180 bn, hasn’t gone anywhere for a very long time. What’s with that grandpa? Strategy not working? Thought you were the cloud guru. I guess not so much. LOL!
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How can LE get away with that kind of practice?
@Zr0fG7c-cdh 1 of many documented case where Oracle fired people right before stock vesting.
https://www.bizjournals.com/sanfrancisco/stories/2000/07/24/story1.html
Oracle Corp. is suing its former top executive in Europe, Africa and the Middle East in a dispute over stock options worth nearly $10 million.
The lawsuit, filed July 3 in U.S. District Court in San Francisco, charges the former executive, Pier Carlo Falotti, with attempting to exercise options on 125,000 shares of Oracle stock three weeks after he was fired. Oracle Chairman Larry Ellison fired Falotti in a telephone call May 31, two business days before Falotti was to become eligible to purchase the stock at a fraction of its market value, according to Oracle's suit.
The dispute marks a bitter end to Falotti's four-year stint at Oracle. The 60-year-old former AT&T executive, who was promoted to executive vice president in January, was widely credited with boosting sales of the Redwood Shores software maker's products in Europe. Falotti, an Italian citizen, brought to Oracle more than a quarter century of high-tech experience, including his roles as CEO of Digital Equipment Corporation-Europe, and president and CEO of the ASK Group, one of the world's largest independent software companies.
At issue in the case is whether Falotti was working on May 31 or was ill.
According to the court documents, Falotti said he could not have been fired on May 31 because he was ill. He produced a note from a doctor, dated May 30, saying that he was too ill to work. Under Swiss law, an employee cannot be fired on a day on which he does not report to work.
Oracle claimed in the lawsuit that Falotti was in his Geneva office on May 31 but left before he could be fired by vice president Vance Kearney, who drove to Geneva to deliver the news. Later that day, Ellison phoned Falotti and informed him that "his employment with Oracle was terminated effective immediately ... (and) that he was relieved of all further duties for Oracle," according to the suit.
Oracle's lawyers will try to show that Falotti's signed U.S. employment agreement supersedes Swiss law, thus making May 31 his official firing date and denying him any further stock options.
Oracle representatives did not return phone calls requesting comment on the lawsuit or Falotti's termination. Falotti, reached at his home in Crans, Switzerland, refused to comment on the lawsuit or his firing.
In addition to the stock options in dispute, Falotti would have been eligible to purchase another 150,000 options in July, the final portion of a 600,000-share deal he signed when he was hired in 1996. Also on the table were nearly 3 million additional stock options, according to Thompson Financial/First Call Insider Research Services -- worth $134 million at today's rate of $76.
All of Falotti's remaining stock options were likely to have been voided when he was fired, as is customary, according to First Call analyst Derrell Garner.
Falotti had already netted nearly $28 million from the sale of 230,000 exercised options between December and March 30, according to Securities and Exchange Commission documents. He also filed forms indicating he planned to sell a further 542,500 shares, but SEC documents indicate he never completed the sale.
You just wait and see sweetheart. Hint: don’t spend that RSU Money before you actually vest and cash out.
Closing out OCI moving to Microsoft
This is actually a coherent Cloud strategy for Oracle Database. I’m sure current Oracle customers will be relieved to know they have a viable solution for their workloads in Cloud. Hopefully they signed short term leases for the soon to be available Seattle offices.