Skip to comments.HP takes $8.8B charge on Autonomy 'improprieties'
Posted on 11/20/2012 5:38:53 AM PST by Perdogg
or its fourth quarter, Hewlett-Packard records a charge of $8.8 billion in its software unit, which had "serious accounting improprieties...and outright misrepresentations" when HP bought it.
(Excerpt) Read more at news.cnet.com ...
Ouch....that IS gonna leave a mark. A big one.
HP to open at 1994 levels...
HP was started by engineers and finished by a sales bimbo.
A venerable company reduced to leapper colony status now. Sad.
Down about 1.60 pre market on huge trading. Forgot the symbol was not HWP rather HPQ (Q for compac acquired sometime ago in anaother disaster).
Sounds like former CEO Apotheker was pushing a bad deal through past the M&A team’s better judgment, or due diligence, at minimum.
What Whitman is hoping the Brits to do for HP civilly should’ve been written into the acquisition contract.
HP started in a garage. It may unfortunately shrink its way to garage size.
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