*HP board meets Sunday

That's what several news organizations are reporting this afternoon. The emergency session, to be held by phone, will focus on how Hewlett-Packard's chairmanwoman Patricia Dunn authorized a team of security experts to examine the records of calls made by the company's board members and a bunch of reporters. In an interview with the WSJ today (subscription only), Dunn said she was "appalled" to learn that the snoops got access to the phone records by unscrupulous means (known in some circles as illegal means). Dunn told the Journal that she has no plans to resign, but that she would step down if her fellow directors want her to. "I serve entirely at the pleasure of the board,'' Ms. Dunn said. "If they determine it no longer is in the interest of shareholders" to remain chairman or a director, "I will do so." What would you say the odds are that Patricia Dunn will still be at HP on Monday morning?

*Update: Not so fast on Dunn's departure. In what is starting to sound a little like the board split over then-CEO Carly Fiorina, Dunn appears to have at least some support, according to the Wall Street Journal, while opponents still comprise a minority. Of course, that can change almost by the hour. There appears to be a conflicting version of events on whether Dunn told board members that phone records would be examined - and resolving that could determine her fate. Though some shareholders are yawning at the story, it's still tough to see how she keeps her job.