November 23, 2012 |
Former Autonomy Corp. chief executive officer Mike Lynch said the claim by Hewlett-Packard Co. that more than $200 million in improperly recorded revenue led to a $5 billion write-down does not make sense. "After being ambushed by all this yesterday, I've had a chance to look at some of the things that they're saying. It just doesn't add up," Lynch said Wednesday. "HP is looking for scapegoats, and I'm afraid I'm not going to be one of those. " Hewlett-Packard recorded an $8.8 billion write-down Tuesday and said more than $5 billion stemmed from accounting irregularities at Autonomy, which it bought last year.
November 22, 2012 |
NEW YORK - Hewlett-Packard Co. said Tuesday that it is the victim of a multibillion-dollar fraud at the hands of a British company it bought last year that lied about its finances. HP CEO Meg Whitman said executives at Autonomy Corp. P.L.C. "willfully" boosted the company's figures through various accounting tricks, which persuaded HP to pay $9.7 billion for the company in October 2011. Autonomy's former chief executive officer said HP's allegations are false. HP is now taking an $8.8 billion charge to align Autonomy's purchase price with what HP now says is its real value.
October 5, 2012 |
SAN FRANCISCO - Coming off the biggest quarterly loss in Hewlett-Packard's history, CEO Meg Whitman braced investors for even more trouble ahead as she methodically tries to fix a wide range of long-standing problems. Those challenges will be compounded by a feeble economy that Whitman expects to weaken even more during the next year. HP said the internal and economic turmoil would cause its earnings to fall more than 10 percent next year, a decline that hadn't been anticipated by analysts who have followed one of the world's largest, and most dysfunctional, technology companies.
April 19, 2012 |
On May 10, 1876, President Ulysses S. Grant welcomed more than 180,000 visitors to the opening day ceremonies of the Centennial Exposition in Philadelphia's Fairmount Park. Grant pulled a lever of the gigantic new Corliss engine, which powered the 800 other machines at the exposition. With the first hiss of steam, the crowd shouted and threw their hats into the air; guns roared, and church bells pealed. The fair was officially opened, and Philadelphia had secured its place as the "Workshop of the World.
April 13, 2012 |
NEW YORK — Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year. China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession. Italy's government easily sold $6.4 billion in bonds to investors.
September 23, 2011 |
Meg Whitman, eBay Inc.'s former chief executive, was named to lead Hewlett-Packard Co. on Thursday. Whitman replaces Leo Apotheker, the company's chief executive, after only 11 months on the job. He is also stepping down as a director. But Apotheker's strategy, including consideration of spinning off HP's personal-computer business from other parts of the company, will likely remain in place. The company also said it was naming Ray Lane, who serves as nonexecutive chairman, as executive chairman.
March 26, 2011 |
SAN FRANCISCO - When Leo Apotheker took over as chief executive officer of Hewlett-Packard Co. nearly five months ago, he inherited a position plagued with scandal. His two predecessors, Mark Hurd and Carly Fiorina, were both ousted from one of the most prominent and troubled jobs in technology. Now, Apotheker is charged with leading HP, the world's largest computer-maker, past those troubled chapters in its history while tying together the far-flung parts of a conglomerate that's under pressure about its growth prospects.
March 21, 2011
NCO Group Inc., Horsham, said today it appointed Ronald A. Rittenmeyer as president and chief executive officer, effective immediately. He replaced Michael J. Barrist, who will remain chairman of the debt-collection company. Barrist had also been president and chief executive since 1986. Rittenmeyer has been consulting with NCO for the last four months on plans for corporate growth and cost savings, the company said. He was chairman, president and chief executive of Electronic Data Systems until its sale to Hewlett-Packard Co. in 2008.
February 10, 2007 |
The Philadelphia lawyer who helped Hewlett-Packard Co. navigate its boardroom spying scandal last year is moving to California to become the company's executive vice president and general counsel. Michael J. Holston, 44, a partner at Morgan Lewis & Bokius, "will be responsible for the company's legal affairs, as well as compliance, government affairs, privacy and ethics," and will serve on its leadership council, which sets company strategy, the HP announcement said. He has represented the Palo Alto, Calif.
September 7, 2003 |
Since departing for the heavens years ago, making an astro-widow of his wife, Donald McAlarnen has been listening for life on Jupiter. Not life as we know it, McAlarnen said one drizzly morning as he traced with his hand the width of the large radio telescope in his backyard. Life in the form of energy, massive energy, the kind of cataclysmic wallop produced when the electromagnetic fields of the solar system's largest planet collide with the molten sprays of sulfuric acid spewed into the atmosphere by its most intimate moon, Io. It is the sort of atomic love connection that McAlarnen has come to appreciate as an amateur astronomer and a cosmic eavesdropper whose day job is actually the night shift at Hewlett-Packard in King of Prussia.