Strikes me that something doesn’t smell right about Hewlett-Packard’s $8.8 Billion write down of last week. Firstly, we have the fact that teams of fucking lawyers, accountants and consultants must have been all over this for month’s before Der Keiser shelled out $11.1 billion for the British software company. Now we have a class action lawsuit being filled by H-P investors saying that the company hid the fact it gained control of Autonomy based on financial statements that could not be relied upon, and that they did not reveal to investors that it tried to undo the agreement before it closed because of the accounting issues. (So why the fuck did they close?) Then yesterday, Mike Lynch, the CEO of Autonomy who pocketed $800 million personally from the sale, more or less said that H-P’s charges against his company were a crock of shit, and that a possible motive in Meg Whitman's huge write-down, which sent H.P.'s stock down the shitter… “Is an attempt to set the bar so low that you can't possibly fail." Now that wouldn’t surprise me at all. Meg flogs a few PC’s, makes a few thousand in the next quarter, and she’s a fucking hero… Performance bonus anyone? H-P is looking at a loss of $6.4 billion in the fourth quarter… And that does not including the Autonomy write down… This company is well and truly fucked!
Someone needs to clean out the H-P Board!