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Remember last quarter: 8B too. EDS. | 186 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
What is worse is they also take it off their taxes
Authored by: jesse on Friday, November 23 2012 @ 10:42 AM EST
as a loss.

Not that they pay that much anyway..

[ Reply to This | Parent | # ]

HPs $8.8 Billion Writedown
Authored by: DieterWasDriving on Sunday, November 25 2012 @ 01:03 AM EST
It does amaze me that HP's management would be so out of touch with the market.

They should have known the value of the business. Really, they should know the
value of most businesses they are in the market with, not just the ones that are
"worth" $12B.

The auditors should only be able come up with hidden problems, like overly
generous employment agreements and contract payouts with a change of control.
Sure, the auditors should be on the hook for approving cooked books, but a
competent purchaser should know within 20% what the numbers actually are.

I'm guessing that there were actually people within HP that did know the
reality, but they were ignored.

I am not a fan of Larry, but he is actually competent to run a big company like
Oracle. He knows his company, the competitors and the market. He knew that
Mark Hurd was a able executive, and he knew that Autonomy wasn't even worth the
$6B that Oracle considered it at. Both times he made clear, public statements.

All that said, the auditors should have been the final check against management
incompetence. If Deloitte didn't warn about the cooked books loudly enough to
trigger a special statement in HP's annual report, it should cost them enough
that the Big Four becomes the Big Three.

[ Reply to This | Parent | # ]

Remember last quarter: 8B too. EDS.
Authored by: symbolset on Sunday, November 25 2012 @ 11:39 PM EST
So that is over 16 billion dollars in just a few months.

[ Reply to This | Parent | # ]

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