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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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Update: 11

Framestore on why Guardians is 'not just another sci-fi movie'

Source: 3D World

Read more about Framestore on why Guardians is 'not just another sci-fi movie' at CreativeBloq.com This article is produced in association with Masters of CG, a contest for creatives in partnership with HP, Nvidia, a ...
Source: 3D World   Full article at: 3D World 2 days ago, 4:06am CDT
 


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Update: 10

It Mainly Includes Plant-derived Ingredients In The Form Of Kojic And Alpha-arbutin, Plus Vitamin C, And An Anti-oxidant In The Form Of Glutathione.

Source: Experience Project

M2 HP Skin Refinish Cream M2 HP skin refinish, previously the best ranked skin whitening creams, lotions and gels. The Side Affec ...
Source: Experience Project   Full article at: Experience Project 2 days ago, 2:04am CDT
 

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Update: 9

Vitamin A: Vitamin A Keeps The Skin Looking Youthful And Battles Fine Lines And Wrinkles Efficiently.

Source: Experience Project

M2 HP Skin Refinish Cream M2 HP skin refinish, previously although results may be visible only after 4-5 months of regular use ...
Source: Experience Project   Full article at: Experience Project 3 days ago, 6:45pm CDT
 

Update: 7

2014 Brno Moto2 Qualifying Results | Rabat on Pole

Source: Ultimate Motorcycling

Marc VDS Racing’s Tito Rabat 2014 Brno Moto2 Qualifying Results Marc VDS Racing’s Esteve Rabat (59) earned the pole Saturday for the bwin Czech Republic Grand Prix qualifying at Brno. The Spaniard’s qualifying time was 2:01.911, a scorching pace for the Moto2 class at Brno. Rabat leads the Moto2 title series with 183 points, a slim seven points ahead of teammate, Mika Kallio (FIN). In Saturday’s qualifying rounds, Kallio could do no better than sixth, but only 0.606 of a second off Rabat’s pace ...
Source: Ultimate Motorcycling   Full article at: Ultimate Motorcycling 3 days ago, 7:29am CDT
 

Update: 6

HP LaserJet Pro P1102W Personal Laser Printer $99.99 Free Shipping

Source: The Mac Resource Page

Tiger Direct features the HP LaserJet Pro P1102W Personal Laser Printer for $99.99 with free shipping. The P1102W connects to your computer via high-speed USB 2.0, and prints up to 19 pages per minute of bold, crisp texts. With WiFi 802.11b/g support, you ...
Source: The Mac Resource Page   Full article at: The Mac Resource Page 5 days ago, 12:00am CDT
 

Update: 5

Series Leader Rabat Leads Brno Moto2 Friday Practice

Source: Ultimate Motorcycling

2014 Brno Moto2 Friday Practice When the first day of Moto2 free practice concluded Friday at Brno, the current series leader  – Tito Rabat – was quickest. Marc VDS Racing pilot posted the quickest time in a dry FP1. Rabat’s time was a 2:03.126, and he outpaced teammate Mika Kallio and Dynavolt Intact GP’s Sandro Cortese. No one could top Rabat’s time in FP2, which took place under wet track conditions, ...
Source: Ultimate Motorcycling   Full article at: Ultimate Motorcycling 5 days ago, 1:19pm CDT
 

Update: 4

AICN HORROR looks at LIFE AFTER BETH! PROXY! MOTEL HELL! LOGOS! THE MIDNIGHT GAME! LYLE! DISENGAGED!

Source: Latino Review

AICN HORROR looks at LIFE AFTER BETH! PROXY! MOTEL HELL! LOGOS! THE MIDNIGHT GAME! LYLE! DISENGAGED! PRISON PIT: BOOK ONE! THE CLOWN AT MIDNIGHT! TWILIGHT ZONE! RUSSIAN YETI: THE KILLER LIVES! 9 MINUTES! & A Rock Opera of HP Lovecraft’s DREAMS IN THERead the full article on AICN Logo by Kristian HornINTROWhat the &#$% is ZOMBIES & SHARKS?Greetings, all. Ambush Bug here with another AICN HORROR: ZOMBIES ...
Source: Latino Review  Full article at: Latino Review 5 days ago, 10:25am CDT
 

Update: 3

VMware Stick The Boot Into Amazon And Azure Pricing. But Are They Telling The Whole Story?

Source: Forbes Real Time

Until recently the cloud world was fairly cleanly split between the enterprise vendors (think IBM, HP, VMware) doing product for large organizations, and those vendors focusing ore on developer uptake (Amazon Web Services, Google etc). There was a pretty distinct difference betw ...
Source: Forbes Real Time   Full article at: Forbes Real Time 5 days ago, 10:14am CDT
 

Update: 2

AICN HORROR looks at LIFE AFTER BETH! PROXY! MOTEL HELL! LOGOS! THE MIDNIGHT GAME! LYLE! DISENGAGED!

Source: aintitcool

AICN HORROR looks at LIFE AFTER BETH! PROXY! MOTEL HELL! LOGOS! THE MIDNIGHT GAME! LYLE! DISENGAGED! PRISON PIT: BOOK ONE! THE CLOWN AT MIDNIGHT! TWILIGHT ZONE! RUSSIAN YETI: THE KILLER LIVES! 9 MINUTES! & A Rock Opera of HP Lovecraft’s DREAMS IN THE Read the full article on AICN Logo by Kristian HornINTROWhat the &#$% is ZOMBIES & SHARKS?Greetings, all. Ambush Bug here with another AICN HORROR: ZOMBIES & SH ...
Source: aintitcool   Full article at: aintitcool 5 days ago, 10:08am CDT
 

Update: 1

Google, HP collaborate on Android-powered 'virtual assistant'

Source: San Francisco Business Times

Google Inc. and Hewlett-Packard Co. are reportedly in talks to collaborate on an Android-powered "virtual assistant" for use in the workplace as a source for searching corporate data, according to The Information. The platform would be enabled through Google Now — the Mountain View-based company's voice-activated search feature — allowing employees to ask their Android gadget for company information, ...
Source: San Francisco Business Times   Full article at: San Francisco Business Times 6 days ago, 7:49am CDT
 

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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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