Meg Whitman: We wuz robbed!

Discussion in 'Off Topic' started by techs, Nov 20, 2012.

  1. her209

    her209 No Lifer

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    IIRC, there was a ATOT member who invested heavily in HP. I can't remember his handle at the moment.
     
  2. NFS4

    NFS4 No Lifer

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    What you did there, I see it.
     
  3. Dari

    Dari Lifer

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    So what can HP do in this case? Or can the accounting firms hide behind the first amendment not unlike the credit rating agencies?
     
  4. dbk

    dbk Lifer

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    Wow Deloitte and KPMG gonna fire some people now!!

    ALSO, PwC was hired by HP to look at all of this after a whistleblower came forward... E&Y audits HPs annual fin stmts.. LOL what a clusterfuck!
     
    #29 dbk, Nov 20, 2012
    Last edited: Nov 20, 2012
  5. bradley

    bradley Diamond Member

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    HP has been going downhill since Wozniak left. Meg was lucky to have even been struck by lightning once, great job HP.
     
    #30 bradley, Nov 20, 2012
    Last edited: Nov 20, 2012
  6. meloz

    meloz Senior member

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    [​IMG]

    Fiorina, Apotheker and now Whitman. There's something deeply rotten about a company's internal culture when the new CEO is as bad -if not worse- than the outgoing one. This is systemic, not down to individual incompetence.
     
  7. waggy

    waggy No Lifer

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    amazing just how fucked up HP is. it's like they are trying to destroy the company.
     
  8. theevilsharpie

    theevilsharpie Platinum Member

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    Whitman is blaming the financial firms HP hired, and there may be some truth to those accusations. However, it's funny how much more "financial misfortune" HP seems to be enduring than Dell, Oracle, or IBM.

    Just sayin' :whiste:
     
  9. abaez

    abaez Diamond Member

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    I have no idea how Meg Whitman is as lauded as she is. Anyone could have been CEO of eBay when the internet boom started in 1999 and made money. The growth from new people getting onto the internet skyrocketed and eBay naturally got more users just because of that, not because of anything Whitman did.
     
  10. lothar

    lothar Diamond Member

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    How is Meg Whitman responsible for the Autonomy mess?
    Was she the CEO when HP acquired Autonomy?
     
  11. lothar

    lothar Diamond Member

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    Fixed.
     
  12. rchiu

    rchiu Diamond Member

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    She was a board member but she said they "trusted" the account's numbers. Funny how she is supposed to be a technology person but have no clue what Autonomy's "super search engine" is just another snake oil.
     
    #37 rchiu, Nov 21, 2012
    Last edited: Nov 21, 2012
  13. MaxPayne63

    MaxPayne63 Senior member

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    Considering they fooled two auditors I'm inclined to give HP's management the benefit of the doubt.

    They're still a bunch of incompetents but for other reasons. :cool:
     
  14. lothar

    lothar Diamond Member

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    You mean the same numbers that 2 of the big 4 auditors trusted?
     
  15. lothar

    lothar Diamond Member

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    There are some in the stock market thread claiming that HP is cheap and undervalued.
    They don't realize that it's a value trap.
     
  16. RocksteadyDotNet

    RocksteadyDotNet Diamond Member

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    Yeah, same bullshit as with the POS CDO's during the GFC.

    They were just 'opinions'.
     
  17. rchiu

    rchiu Diamond Member

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    That's not the point. They are supposed to be a tech company. They should be evaluating Autonomy's software, if it is solid, it if has market, if customers find it usable and valuable, if it strategically align with HP's product offering. They shouldn't be basing it on how much cashflow Autonomy is making. Larry Ellison is smart enough to know Autonmy don't worth $6B because he knows software, software industry, it's customer. But dumb HP management with no clue what they are buying paid $11B for that crap.

    That's the problem with HP don't know what they are doing and base all decision on consultant reports, accountants reports, auditors report. That's what happens to bunch of failed companies. Bunch of moron on the top.
     
  18. Andrew111

    Andrew111 Senior member

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    Not only was she on the board...but if I recall there were issues raised about this acquisition before the board voted to approve it unanimously (one simply wasn't present). You'd think you'd have some dissent or at least delay the acquisition if there were any issues with the numbers before the acquisition...guess financial dollars and cents/sense aren't important to HP.
     
  19. IndyColtsFan

    IndyColtsFan Lifer

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    Apotheker was, by far, the worst hire by HP and possibly in the history of CEOs for large companies. He bombed at SAP and was asked to leave and didn't even meet most of the board and was hired. Hiring him was truly mind-boggling and I bet they wish they would've kept Hurd.
     
  20. IndyColtsFan

    IndyColtsFan Lifer

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    Actually, Autonomy's technology IS incredibly slick. A couple of years ago, before anyone really knew who they were, I saw some demos of their products and they were very impressive. The problem was price -- for our particular usage, you had to spend well over $100K to even begin to play and that wasn't going to happen.

    $11 billion for them though? I laughed at loud when I heard that price.
     
  21. CPA

    CPA Elite Member

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    This. Some of you dunderheads blaming Meg or saying she should have known need to understand how business works. Companies pay these "experts" millions of dollars to provide them with due diligence. It's not like Meg is looking at the books. If the experts didn't see it or say they didn't see it, then why is Meg at fault?
     
  22. waggy

    waggy No Lifer

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    lol and people say a Good CEO is not worth the money. HP is proof they are.
     
  23. techs

    techs Lifer

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    If I am reading it right about half the loss is due to the fact the companies software was not worth what they thought it was. An error in judgement.
     
  24. Pr0d1gy

    Pr0d1gy Diamond Member

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    A Good CEO is a very subjective statement. A "Good" CEO in your eyes might be someone who increased profitability by offshoring production, producing more in the short term but nearly crippling the long term earning potential within this country. So, really, what is a Good CEO and how much would it be really worth to have someone do some simple middle school difficulty math and earn more money? Most of the people we call CEO's today would have been called traitors 150 years ago.
     
  25. Genx87

    Genx87 Lifer

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    HP and AMD are a match made in hell. HP should go all the way and over pay for AMD to vertically integrate.