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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 ...
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Review: Updated: ThinkPad X1 Carbon review


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

Source: Med City News

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Acer C720P Chromebook puts brawn before beauty [review]

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Update: 5

SAP Q1 revenue increases 3%, cloud business booming


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CompHaiti And Tech Data Partnership Brings Thousands Of Laptops To Haitian Students

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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.
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