Good thing Whitman lost, imagine the state of CA in her hands....
Hewlett-Packard Loses Billions on Sketchy Buyout of Autonomy
Nov 20, 2012 1:48 PM EST
The Silicon Valley company says it is the victim of an $8.8 billion buyout fraud. But shouldn’t someone have noticed?
The hits keep coming for Hewlett-Packard, the original Silicon Valley giant. Personal computers, the garage-founded company’s central business, just aren’t cool anymore – not in a world of high-powered smart-phones and touchable tablets. In the second quarter of 2012, HP’s profit fell 31 percent. And on May 23, it announced plans to lay off 27,000 employees. Still, in the third quarter, the losses kept coming – a record $8.86 billion – after the company was forced to write down its disappointing acquisition of Electronic Data Systems, at a charge of $8 billion. In two years, the company has gone through three CEOs. The current CEO, former eBay head Meg Whitman, who is best known to political junkies for a $144 million investment in her failed gubernatorial campaign, is trying to right the ship.
much more:
http://www.thedailybeast.com/articles/2012/11/20/hewlett-packard-loses-billions-on-sketchy-buyout-of-autonomy.html?utm_medium=email&utm_source=newsletter&utm_campaign=cheatsheet_afternoon&cid=newsletter%3Bemail%3Bcheatsheet_afternoon&utm_term=Cheat%20Sheet
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