HP (HPQ:NYSE) now bores the public – at least that’s what we conclude after checking GoogleTrends on the topic. The trend line is gradually sinking, just like the price of its stock.
Given the steepness of the fall in price though, we suspect that actual shareholders may be a little less bored than casual Internet searchers reported by Google’s trend line.
Now we read in the WSJ that H-P Says It Was Duped, Takes $8.8 Billion Charge
Since our blog reader analysis software tells us that you readers rarely, if ever, click on the links we so helpfully give you, here is the gist of that news story:
Hewlett-Packard says a software company it bought last year had misrepresented its financial performance. The company said it would take a $8.8 billion write-down due to the alleged misstatements.
We highly recommend that you take a look at this fully-reported story in the link given. It’s even better than the Kodak story, which we also reported about.
Don’t say we didn’t warn you. See our March 10, 2011 post: Fighting over the HP carcass?
So sad. A great company, just like Kodak, founded by excellent businessmen and engineers, eviscerated by second-handers as Ayn Rand would call them.