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  (Source: flyingsuicide.net)
HP's filing said it may “dispose of a business at a price or on terms that are less desirable than we had anticipated”

Hewlett-Packard (HP) has been in a tough spot for some time now, and to hopefully improve that position a bit, the company recently said it's considering disposing of businesses that aren't meeting goals.

HP's December 10-K filing with the U.S. Securities and Exchange Commission stated that the company is currently evaluating "the potential disposition of assets and businesses" that are no longer helping them meet objectives.

“When we decide to sell assets or a business, we may encounter difficulty in finding buyers or alternative exit strategies on acceptable terms in a timely manner, which could delay the achievement of our strategic objectives,” said Hewlett-Packard.

The filing also said that HP may “dispose of a business at a price or on terms that are less desirable than we had anticipated” and “the impact of the divestiture on our revenue growth may be larger than projected."

HP has endured a bumpy ride over the past years, mainly due to former CEO Leo Apotheker. Back in August 2011, HP announced that it was abandoning its webOS platform and TouchPad tablets for good. It had acquired the webOS platform from Palm for $1.2 billion USD only a year previous. 

That same month, HP planned to sell off its Personal Systems Group (PSG), which is responsible for consumer and business PCs. Later, it was announced that HP was leaning more toward a spin-off PC business than a sale.

When current CEO Meg Whitman stepped up to the plate shortly after those baffling announcements, HP ended up not selling its PC unit or having a spin-off. Whitman kept the PC business in-house.

More recently, HP alleged that HP subsidiary Autonomy's former owners committed approximately $5B USD in accounting "improprieties", which they suggest amount to fraud.

In November 2012, it was reported that HP would take an $8.8 billion hit due to "accounting improprieties." 

Source: Bloomberg


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By havoti97 on 1/2/2013 8:40:38 PM , Rating: 4
Let's first ditch the entire upper management and board.




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