Tossing and Turning Over HP
Hewlett-Packard (HPQ) announced on Wednesday that it would write off $8 billion of the $13.9 billion acquisition price of Electronic Data Systems. The four-year-old deal didn't work as intended. I don't know what H. Ross Perot, founder of EDS, would say about this, but I bet it's along the lines of, "If you leave the barn door open, the chickens will cross the road." Or something like that. What a mess!
Hasn't HP run out of divisions to restructure? I can't remember a time when they weren't taking charges or cutting back. Just when you thought they'd run out of stuff to cut, CEO Meg Whitman said in May that the company would shed another 27,000 jobs by the end of fiscal 2014....544 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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