Re: Anyone ever heard of due diligence
"You insisted they had a habit of writing off all their acquisitons' value, I said that would be closer to $70bn and all you can stretch it to is "
Exactly, you said... based on nothing. It is, even by HP standards, not conceivable that every acquisition they have made has no value whatsoever. The question is: Do they chronically and massively overpay? Yes, they do. They have written down $17 *billion* in acquisition overpayments or otherwise lost value in the last few months. Compaq, Palm, EDS, Autonomy were all part of these write downs. Can you name another company in the IT space that has had anything comparable to these write downs? IBM and Oracle, for instance, have never had to take a multi-billion dollar write down and they are serial acquirers.
"No, hp are STATING that there was a deliberate and massive fraud, that is not the same as minor and accidental accounting errors. Boy, you really are desperate to think the worst of hp, did they turn you down for a job?"
They are stating that there is $200 million worth of miscategorized revenue or accelerated revenue. How that gets to $8.8 billion is anyone's guess? They can claim that it was deliberate, it certainly is not massive in the sense of approaching anything that would justify an $8.8 billion write down.
"I suggest you wait for those legal authorities to actually do their jobs before blindly claiming legality."
Noted. I will be sure not to provide my opinion without all the facts in evidence. I notice that you had no trouble putting all of the blame for this debacle on KPMG and Deloitte despite also having no factual information or legal standing.
"Ah, say no more! I didn't realise hp were in the organic fertiliser business."
Sadly, the fertilizer business has higher margins and better prospects than the businesses that HP is in today.