The Conservative Cave
Current Events => Economics => Topic started by: Chris_ 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 (http://www.npr.org/blogs/thetwo-way/2012/11/20/165551326/hp-takes-8-8-billion-hit-from-misrepresentations-by-company-it-bought?ft=1&f=1001)
Good thing I don't have any HP stock.
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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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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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Sounds like the current scan/copy/printer I have.
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Sounds like the current scan/copy/printer I have.
Probably the same model that I have too.