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Author Topic: HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought  (Read 1203 times)

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Offline Chris_

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HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought
« on: November 20, 2012, 09:22:58 AM »
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HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought

Saying it was a victim of "serious accounting improprieties, disclosure failures and outright misrepresentations" by a British software company it acquired last year, tech titan Hewlett-Packard just announced it erased $8.8 billion from its books last quarter to properly account for the acquisition.

The accounting charge "essentially wiped out the company's profits" for the quarter, as The New York Times' DealBook blog writes. CNBC notes that Hewlett-Packard avoided calling what happened fraud.
NPR

Good thing I don't have any HP stock.
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Offline DefiantSix

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Re: HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought
« Reply #1 on: November 20, 2012, 09:31:03 AM »
Couldn't happen to a more ****ed up company.  I can't wait to see 'em go bankrupt and get bought up by Dell.
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Offline zeitgeist

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Re: HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought
« Reply #2 on: November 22, 2012, 12:51:56 PM »
HP another love / hate relationship.   :rant:

I have one HP that is Bi Polar I swear.  :bawl:   It is hard to justify separate  fax, copier / scanner and printer but this thing tries my patience. 
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Offline NHSparky

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Re: HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought
« Reply #3 on: November 22, 2012, 05:12:59 PM »
Sounds like the current scan/copy/printer I have. 
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Offline rich_t

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Re: HP Takes $8.8 Billion Hit From 'Misrepresentations' By Company It Bought
« Reply #4 on: November 22, 2012, 05:17:51 PM »
Quote from: NHSparky on November 22, 2012, 05:12:59 PM
Sounds like the current scan/copy/printer I have. 

Probably the same model that I have too.
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