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HP Forced to Take $8.8 Billion Quarterly Write-Down

HP claims Autonomy cooked the books

Nov 21 2012, 12:19pm CST | by

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HP Forced to Take $8.8 Billion Quarterly Write-Down
 
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HP Forced to Take $8.8 Billion Quarterly Write-Down

HP has taken a beating and announced during its quarterly earnings report that it is being forced to take a $8.8 billion write-down. HP isn't taking the onus of that massive loss on itself though; it's blaming people who "willfully" faked numbers when it purchased Autonomy leading HP to overpay significantly for the company. According to HP, its internal investigation revealed "serious accounting improprieties" and "outright misrepresentations" by software maker Autonomy.

"There appears to have been a willful sustained effort" to inflate Autonomy's revenue and profitability, said Chief Executive Meg Whitman. "This was designed to be hidden."

However, former CEO of Autonomy, Michael Lynch denies any improper accounting and accuses HP trying to hide its mismanagement. Lynch said, "We completely reject the allegations. As soon as there is some flesh put on the bones we will show they are not true." HP has said that it alerted the US Securities and Exchange Commission and the UK Serious Fraud Office and requested an investigation.

 

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How the Touch Screen Became So Out of Touch

Source: The Huffington Post

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The touch screen -- interface of the future or gimmicky marketing headache? When the first touch screen interfaces came out (at least in a big consumer kind of way) it was in smartphones. Sure there have been other instances of touch screen interfaces (ATM machines, TV remotes, etc.) but no touch screen application has ever become so prolific, so fast, as did the smartphone touch screen. It seemed like overnight we began seeing every sort of tech device coming to us with a touch screen built i ...
Source: The Huffington Post   Full article at: The Huffington Post 16 hours ago
 


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Update: 10

Review: Updated: ThinkPad X1 Carbon review

Source: Tech.co.uk

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Introduction and designBusiness laptops are boring. There, I said it, and I doubt many would disagree. And judging by the looks of the new Lenovo ThinkPad X1 Carbon, the company's designers would likely nod in agreement. Lenovo has developed a knack for sexing up the business Ultrabook, for better or worse – just look at the ThinkPad Yoga.I'm glad to report that this X1 Carbon makeover resulted in more for the better, but ...
Source: Tech.co.uk   Full article at: Tech.co.uk 19 hours ago, 4:28pm CDT
 

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Your smartphone becomes the key to your laptop with this tantalizing Chrome OS feature

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Update: 6

Acer C720P Chromebook puts brawn before beauty [review]

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I struggle to aptly describe my feelings about Acer's affordable touchscreen Chromebook. The C720P is the lover you keep in the dark, for the benefits, but which you wouldn't be seen with in the daylight. Performance and battery life are wow-worthy. But the plastic exterior looks and feels cheap, and the touchscreen is too dim -- well, for my tastes. More than two months now using the C720P, I like the computer least of all the Chromebooks to pass my way. ...
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SAP Q1 revenue increases 3%, cloud business booming

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SAP Q1 revenue increased 3% to $5.1 billion, compared with Q1 of 2013. The organization attributes its revenue increase to a 60% increase in revenue from cloud subscriptions and support year-over-year. The German software company’s net profit also increased 3% to $739 million. SAP co-Chief Executive Bill McDermott expects the company to generate $8 billion in 2014, an increase of approximately $400 million over last year, he said in an earnings statement.Happy clo ...
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Source: Extreme Tech

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Laptops packing 4th-gen Core  chips are getting cheaper — as we pointed out yesterday with the $620 HP Envy 15t – but it can still get pricey if you want a premium laptop with other high end features like a hybrid hard drive or a touchscreen. One of the best laptops we’ve seen sporting top-of-t ...
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CompHaiti And Tech Data Partnership Brings Thousands Of Laptops To Haitian Students

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A CompHaiti and Tech Data partnership is already in the process of bringing 3,000 HP laptops to Haitian university students, with thousands more in the works, giving students access to technology they most likely wouldn't ...
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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Leading our review center, Shane McGlaun (Google) knows technology inside out. His extensive experience in testing computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.

 

 

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