Print 14 comment(s) - last by cjohnson2136.. on Oct 31 at 1:36 PM

  (Source: EMI Films )
Company finally listens to investors, analysts

After taking a shellacking from investors and analysts, Hewlett-Packard Comp.'s (HPQ) board finally relented and has reversed its plans to chop up the company.  Based on the sentiments of the investors and the tech community Thursday's announcement might has well have read, "HP decides not to chop off limbs."

New CEO Meg Whitman indicated that her firm realized the obvious.  She comments, "HP objectively evaluated the strategic, financial and operational impact of spinning off PSG. It’s clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders, and right for employees.  HP is committed to PSG, and together we are stronger."

The announcement comes after the board initially tried to placate investors by making a scapegoat out of German CEO Léo Apotheker.  To be fair, Mr. Apotheker was probably a bad fit in the first place particularly considering he was just fired by German business software giant SAP AG (ETR:SAP).  However, the decision to kill webOS and spin off the PC business clearly came from the board, as the new CEO Meg Whitman was initially encouraged to continue these plans.

HP's former board chairman Tom Perkins likened those plans to corporate suicide.

Well investors can sleep a bit more soundly now that the spinoff of the world's largest PC seller has been terminated. There is still bad news for webOS fans though; HP hasn't given any indication it's willing to back off of that unpopular decision -- not yet at least.

Source: HP

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: What movie was that picture from?
By theapparition on 10/31/2011 12:05:11 PM , Rating: 2
You're quotes are a bit off. Actually, a lot off.

Normally, it wouldn't be a big deal, but since you are quoting scripture from the holiest of movies, Monty Python and the Holy Grail, that is a grave sin.

The bunny is the Rabbit of Caerbannog.

Bridgekeeper: the airspeed velocity of an unladen swallow?

King Arthur:
What you mean, African or European swallow?

I don't know that........Ahhhhhhhhhhhhhhhhhhh

For your heinous crimes of misquoting, I sentence you to do penance at the Castle Anthrax, where eight score young blondes and brunettes, all between sixteen and nineteen and a half will attend to your needs.

Oh, and return with a shrubbary.

By cjohnson2136 on 10/31/2011 1:36:46 PM , Rating: 2
hmmm no mention if those blondes and brunettes are female or male lol

"We basically took a look at this situation and said, this is bullshit." -- Newegg Chief Legal Officer Lee Cheng's take on patent troll Soverain

Copyright 2015 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki