HP claims 8.8 billion$ fraud by Software unit - Basketball Forum : Professional and College Basketball Forums

**Diable** · 11-20-2012, 01:53 PM

http://www.cnbc.com/id/49885363

I really have to admit that I can't imagine how this much money can go missing without anyone taking note of it. It really seems as though HP must have some of those people who keep track of beans and shells for them.

Quote:

Hewlett-Packard reported quarterly earnings thatbeat expectations on Tuesday, but only after excluding a huge accounting charge relating to allegations of fraud tied to the acquisition of its Autonomy software unit.

The company, in the midst of a multiyear turnaround plan, said alleged accounting "improprieties" at the acquired company led to a one-time accounting charge of $8.8 billion. While avoiding calling it fraud, Hewlett-Packard said there was "serious accounting improprieties, disclosure failures, and outright misrepresentations at Autonomy" that was discovered during a nearly seven-month-long internal investigation.

**E.H. Munro** · 11-20-2012, 02:02 PM

Gawdamn. That makes me wish I'd never walked out on IBM. I should have lived with it long enough to get over to HP and embezzle my way to the south Pacific.

11-20-2012, 02:02 PM	#2 (permalink)
E.H. Munro Baddest Honky Mofo Alive Join Date: Jun 2004 Posts: 24,246 Rep Power: 21474869	Re: HP claims 8.8 billion$ fraud by Software unit Gawdamn. That makes me wish I'd never walked out on IBM. I should have lived with it long enough to get over to HP and embezzle my way to the south Pacific. __________________ If everyone loves you you're doing it wrong. "Opium is the religion of the masses." Fred Reed The Power of 99 Press "He thinks it's going to be fun being governor. It's only fun being governor of New York if you have money to spend, and I spent it all." Nelson Rockefeller on his successor, Hugh Carey.

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