H-P now bores the public

The original creators of Hewlett-Packard, William Hewlett and David Packard. Photo courtesy of Hewlett Packard Company.

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.

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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One Response to H-P now bores the public

  1. From a friend:
    Really sad. In 1992 I did a term paper at PCC on HP, so I did a lot of
    research on the company. It was a really good company back then. So sad.
    But we see that so much with the second or third generation. We know a
    timber/ sawmill company that the second gen is just spending money like no
    tomorrow. Some of the waste is in an effort to help workers or in helping
    the 3rd gen, but they are going to lose the whole thing if they don’t wake
    up. We also see 2nd gens in some companies turn Left politically. So
    Atlas Shrugged! Amazing book. If you buy it on audio, be sure to get the
    version narrated by Christopher Hurt.

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