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More Proof that HPQ SUCKS!

 
 
Reply Tue 20 Nov, 2012 07:08 pm
As if this is needed:

HPQ takes a $8.8 billion write down of their $11 billion purchase of Autonomy

Quote:
Hewlett Packard (HPQ), a company that is earning records for large and expensive strategic errors, plummeted to new depths of incompetence today with their $8.8 BN write down of Autonomy, a software company they acquired in 2011. The list of enormous acquisitions about which nothing much positive subsequently emerged is shockingly long: Compaq in May 2002 for $25 BN; P&G IT in 2003 for $3BN; Mercury Interactive in 2006 for $4.5BN; Opsware in 2007 for $1.6BN; Electronic Data Systems in 2008 for $13.9BN; 3Com for $2.7BN, Palm for $1.2BN, 3PAR for $2.35BN and ArcSight for $1.5BN all in 2010; Autonomy for $11BN in 2011. And these are just the $1Bn or greater deals. $66.75BN in acquisitions over the past ten years and the company’s market cap is less than half of that

Read more: http://inpursuitofvalue.wordpress.com/2012/11/20/hewlett-packard-shoots-their-other-foot/#ixzz2CoaoDKH6
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Type: Discussion • Score: 0 • Views: 2,417 • Replies: 8
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Baldimo
 
  2  
Reply Tue 20 Nov, 2012 07:25 pm
@hawkeye10,
Don't forget the purchase of Lefthand Networks which has turned out to be a great buy for them. Not to mention they kept me employed.
hawkeye10
 
  0  
Reply Tue 20 Nov, 2012 07:30 pm
@Baldimo,
Baldimo wrote:

Don't forget the purchase of Lefthand Networks which has turned out to be a great buy for them. Not to mention they kept me employed.

so HPQ made according to you one $.3 billion purchase that turned out well. I will add that to the left side of the ledger.
Baldimo
 
  0  
Reply Wed 21 Nov, 2012 04:12 pm
@hawkeye10,
Hey for me it's relative. That side of the business is doing very well. They have some outgoing products which explains some of the purchases. Instead of developing from scratch storage products, they are purchasing companies that seem to be doing good with new technologies and converting them for use on HP hardware systems. It is a good plan as long as the Prolient systems continue to improve and keep pace with the times. Fiber Channel access as well as pushing into solid state. Prices on these things will only decrease with time.

Why such a hard on for HP? Did they wrong you as an employee long ago? Do you not have any faith in the current CEO?
hawkeye10
 
  0  
Reply Wed 21 Nov, 2012 11:44 pm
@Baldimo,
Quote:
Why such a hard on for HP?

do it right or you should get eliminated. it should offend us all that HP is still here.
0 Replies
 
hawkeye10
 
  1  
Reply Thu 22 May, 2014 07:07 pm
Quote:
HP, whose sprawling global operations employ more than 250,000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27,000 jobs. That number rose to 34,000 last year.

On Thursday, it estimated another 11,000 to 16,000 more jobs needed to go, scattered across different countries and business areas. That took the grand total under Whitman's restructuring to 50,000.


http://finance.yahoo.com/news/hp-may-cut-16-000-000745622.html

HPQ, still sucking!

The piece sugar coats the situation...in 2011 HP had 350,000 employees. This thing is shrinking fast.
0 Replies
 
Butrflynet
 
  1  
Reply Thu 22 May, 2014 07:42 pm
I suspect HP will not be refunding money to Rio Rancho.


http://krqe.com/2014/05/22/hp-to-cut-thousands-of-jobs-worldwide/
HP to cut thousands of jobs worldwide

By Katherine Mozzone
Updated: Thursday, May 22, 2014, 6:31 pm
Published: Thursday, May 22, 2014, 6:28 pm

ALBUQUERQUE (KRQE)- Hewlett-Packard announced Thursday afternoon it’s laying off thousands of workers. The company says it doesn’t know what impact that’ll have on the Rio Rancho plant but, if past layoffs are any indication, it may not be good. HP is set to lay off between 11,000 and 16,000 jobs, worldwide, to save money.

The company announced its second quarter earnings Thursday and they’re down from last year. HP has been struggling lately because not as many people are buying PC’s.

Thursday’s layoff news comes just two years after the company announced it would be laying off 34,000 workers. Eventually, the Rio Rancho plant lost 200 jobs.

In 2009, the state pitched in $20 million and the City of Rio Rancho contributed $2 million to convince HP to build a massive customer service center here. As part of the deal, HP only pays $1 in rent.

The company agreed to employ at least 1,300 people by now but, as of December, it had fewer than 700 on staff.

In January the City of Rio Rancho asked for some of that incentive money back because HP wasn’t living up to its end of the job deal.

KRQE News 13 talked to HP and the City of Rio Rancho, Thursday, neither could say if this would impact the local plant.

The governor’s office tells us they’re working on a response to Thursday’s announcement.
hawkeye10
 
  1  
Reply Thu 22 May, 2014 07:52 pm
@Butrflynet,
They had a tax break agreement for their Dupont Wa complex that they never honored, in fact I think they only got to 50% of the promised employment and it has since gone down a lot. Noticed last year that they were finally selling off the unused buildings.
0 Replies
 
hawkeye10
 
  1  
Reply Thu 22 May, 2014 07:56 pm
@Butrflynet,
Quote:
HP has been struggling lately because not as many people are buying PC’s.


TOOO FUNNY!

HP has been struggling because of years of having a deeply incompetent board, and because of many many very costly changes in direction, leaving them with no focus and with their core competence in dying sectors of the industry. Last I heard they were going to try a Hail Mary and be IBM. We already have an IBM, which is these days well managed, we dont need another one.

There is no plan here, this looks like JCP and Sears Holding, another once great huge company that is in the process of an organized liquidation.
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