New York — Stock futures grew choppy Tuesday after Hewlett-Packard revealed that it was the victim of a massive fraud related to an acquisition and took a huge hit to its latest quarterly earnings. After a mostly positive morning, the Dow Jones industrial futures fell 18 points to 12,720. The broader S&P futures slipped 0.50 points to 1,382. Nasdaq futures added 1.5 points to 2,587. Hewlett-Packard said Tuesday that a British company it bought for $10 billion last year lied about its finances and accusing Autonomy Corporation PLC, of "serious accounting improprieties, disclosure failures and outright misrepresentations."
Comments: HP can´t even do acquisitions right these days. How far they´ve fallen.
Hey, Deloitte audited them and KPMG reviewed the books as well, according to the WSJ. Neither Deloitte nor KPMG found anything wrong. I don´t know what else can be expected from HP. There is no defense against an outright crook, and from HP´s fraud allegations that´s exactly what they think they were up against. Too bad, but not their fault.
HP hasn´t got anything right since they jetisoned the old instrument divisions and became a dedicated computer company.
This particular acquisition was especially bogus, even valuing Autonomy at $1b must be exceedingly generous. But their buying EDS was also massively stupid, they wrote off $11b last quarter for EDS!
They are shooting at the past, because their present is evaporating. HP should have been foremost in tablets and the like, but they fell asleep, trying to be IBM - who isn´t in tablets either, we should note. IBM is another story, another bubble to pop pretty soon. Meg is gonna try to turn them around. Good luck, lady.
Tacoma, Wash. — At first glance, nothing looks wrong with Justin Winter, a tattoo artist in Tacoma. But when you hear his voice project out from his bushy beard, you can sense it is hard for him to talk about what happened one week ago, hard in a couple of ways. The most obvious difficulty comes from having his mouth wired shut. But, perhaps even more painful is the reason why he´s in this situation. "Another human life means nothing to these kids," Winter says of what he calls a "pack" of young people who attacked him. "That´s what disturbs me most
New York — The NYPD is looking into a series of attacks on Jews in Brooklyn. At least one attack was caught on surveillance tape. Some of the assaults may be part of a disturbing game, CBS 2’s John Slattery reported on Tuesday. Police have yet to connect all the incidents, but released surveillance video that shows one group attacking a Jewish man. The video shows from a few different angles the victim, a man in a hooded jacket, getting punched. One man who didn’t want to be identified told Slattery his 12-year-old son was attacked in the same
U.S. consumer sentiment unexpectedly dipped in November to a near two-year low as lower-income households worried about their job prospects and financial outlooks and negative views of the government lingered, a survey released on Friday showed. The Thomson Reuters/University of Michigan´s preliminary reading on the overall index of consumer sentiment fell to 72.0 in November, its lowest since December 2011. That was lower than both October´s final reading of 73.2 and the 74.5 economists had expected this month. Lower-income households in particular worried about their future financial state. That was a contrast to richer households—those with
Philadelphia police and prosecutors are investigating an anonymous Instagram account with thousands of followers that for months has been identifying witnesses in violent crimes across the city - aiming, in its creator´s words, to "expose rats." The account, called rats215, has outed more than 30 witnesses since February, posting photos, police statements, and testimony on the photo-sharing website. Because many of the statements posted aren´t public records, authorities are investigating the page as a potential act of mass witness intimidation - in a city where police and prosecutors struggle daily to find witnesses willing to testify. Rats215 had nearly 7,900 followers.
A Government wind turbine installed at a cost of £48,000 is generating just £5 worth of electricity a month because it was put up in the wrong spot, it was revealed today. If it continues producing power at the same rate, it will take 452 years to pay for itself. Welsh Government officials had the 60ft taxpayer-funded turbine put up in a built up area of Aberystwyth where there is very little wind - two miles away from one of Britain´s breeziest coastlines. Paul Burrell, from wind power company Anemos, said: ´The problem is quite simple - it’s been put in the
Trenton — New Jersey voters may have set another record for low turnout Tuesday — this time for a gubernatorial election. With 99 percent of the voting precincts counted, 2,073,642 voters cast ballots for governor, according to the Associated Press. That´s a shade less than 38 percent of the state´s registered voters. The voter totals will go up because they don´t include provisional ballots yet to be counted, as well as those who may have voted for other offices but not governor. The record low for a governor´s race is 47 percent, set four years ago. The special U.S. Senate election held
Tucked away inside a first-floor office in Jersey City City Hall is a new city department that Mayor Steve Fulop says is the first in the state to explicitly cater to immigrants. Dubbed the Office of Diversity & Inclusion, the division is staffed by two city workers who are tasked with reaching out to the city’s sizable immigrant community and providing them with basic knowledge of city services and the school system, often in their own language. (Snip) Nearly 40 percent of Jersey City residents are foreign born, compared to 21 percent statewide, while more than 52 percent speak a language
Indianapolis, Ind. – The three suspects arrested in an Oct. 29 home invasion on the northeast side are now listed as co-defendants and will each face dozens of charges when they appear in court Tuesday afternoon. Alexander Dupree, 23, Trae Spells, 18, and Michael Pugh, 21, now face the same list of 35 charges. Those charges include criminal deviate conduct, rape, robbery, burglary, aggravated battery, criminal confinement, carjacking and more. The charges stem from the brutal home invasion robbery that that terrorized a family in the 800 block of East 79th Street, in the Meridian Hills neighborhood. The early morning crime
Newark — Newark City Councilwoman Mildred Crump is in hot water with the state comptroller’s office after allegedly steering about $20,000 in taxpayer money to non-profit organizations she founded or was involved in, according to documents obtained by The Star-Ledger. (Snip) The report, a portion of which was obtained this week by the newspaper, says that in 2010, Crump steered $17,000 in city funds to a non-profit group called the Global Women’s Leadership Collaborative for a leadership summit in Ghana, West Africa. On her City Hall biography, Crump says she is a founding member the group. “This $17,000 payment
Irvington — A Pathmark employee´s attempt to flirt with a teenage girl sparked the argument that led to the shooting of an 11-year-old boy and an unidentified man in Irvington on Tuesday night, the injured boy´s father said today. Raheem Maldonado, father of the 11-year-old who was shot in the hand, said the child´s mother began arguing with a Pathmark employee after he allegedly started flirting with her 14-year-old daughter. The woman became incensed, according to Maldonado, who said the employee responded by telling the woman "let´s take this outside." On Tuesday, Irvington Police Director
Gov. Chris Christie swept to victory in Tuesday´s gubernatorial election — and Friday, his silhouette will grace the cover of Time magazine. How graceful is the headline on the story, though? That´s a matter for debate. "The Elephant in the Room." That´s how the magazine frames the package of stories asking whether New Jersey´s governor could be the savior of the Republican Party. The issue hits newsstands Friday, but The Star-Ledger got a sneak peak. The governor´s weight has been cheap fodder for comedians and opponents since he stepped into the limelight four years ago. The governor himself has addressed his
Newark — Two Sheriff´s officers investigating possible drug activity shot and killed a suspected drug dealer after police claim the man approached them with a loaded weapon, Essex County Chief of Detectives, Anthony Ambrose, said today. The two plain-clothes deputies were conducting a narcotics investigation and approached their target in a building on North 9th Street in Newark. Ambrose said the man came out of the building with a loaded weapon. The deputies fired one shot each, killing the man, whose name was not divulged, Ambrose said. A group of residents, who had a different story about what happened during the
In a recent interview with BBC News, Oprah Winfrey said that President Obama is disrespected because he is an African-American. "There’s a level of disrespect for the office that occurs. And that occurs in some cases and maybe even many cases because he’s African-American," Winfrey said. "There’s no question about that, and it’s the kind of thing nobody ever says but everybody’s thinking it." Speaking with the BBC´s Will Gompertz in the UK to promote "The Butler," Winfrey also spoke to the global issue of racism. "It´s gotten better. Are there still places where people are terrorized because of the color of their
President Obama announces today that he supports a “fix” for Obamacare that would allow some Americans to keep the healthcare plans they already had for an additional year. That was already built into the Affordable Care Act aka Obamacare law. It’s not an actual change to anything, it’s just an attempt to get out ahead of the bills that Republican Fred Upton and Democrat Mary Landrieu are sponsoring in the House and Senate that would legislatively “fix” Obamacare. It’s an exercise in blame-shifting, and an abdication of leadership. As news of the plan leaked, skepticism spread.(Snip for tweets)Barack Obama’s credibility
To paraphrase Oscar Wilde, you’d have to have a heart of stone not to laugh at the unraveling of Obamacare. First, the obligatory caveats. It is no laughing matter that millions of Americans’ lives have been thrown into anxious chaos as they lose their health insurance, their doctors, their money, or all three. Nor is it particularly amusing to think of the incredible waste of time and tax dollars that has gone into Obamacare’s construction. And the still-unfolding violence that this misbegotten legislation will visit on the economy and our liberties is not funny either. This very magazine has been downright
Desperate times call for desperate measures, so on Thursday one desperate President, Barack Obama, attempted to sell the idea that he had found a way to keep his Obamacare pledge: “If you like your insurance plan, you can keep it.” This exuberantly delivered and oft-repeated sales pitch for the program that has dominated his presidency “ended up not being accurate,” as Obama mincingly put it. He had no choice — not when health insurers complying with his regulations have canceled policies for millions of Americans. Not when those newly uninsured cannot buy coverage using Obama’s botched website. Not when congressional Democrats are panicking
Oprah Winfrey, one of the most powerful women in the world, declared she would not be stripping off her lingerie to get ‘buck naked’ on screen. The billionaire TV tsarina and occasional actress was speaking to me about her role in director Lee Daniels’s movie The Butler, in which she plays Gloria, wife of a White House butler played by Forest Whitaker. Gloria becomes bored with her middle-class life while her husband’s off looking after ‘that other family in the White House’. Oprah said that after a while Gloria starts to drink, and fools around with a neighbour, played by
In his 2007 biography of Barack Obama, Obama: From Promise to Power, Chicago Tribune reporter David Mendell described the exchange he had with then-Illinois state Sen. Barack Obama just minutes before he delivered the keynote address at the 2004 Democratic National Convention in Boston: After Obama and I slipped through a security checkpoint and he momentarily broke free from the entourage, I sidled up to him and told him that he seemed to be impressing many people of influence in this rarefied atmosphere. Obama, his gaze fixed directly ahead, never broke his stride. “I´m LeBron, baby,” he replied, referring to LeBron
On Wednesday, Senator Mark Udall (D-CO) introduced a bill in the Senate that would allow Americans to keep their health insurance plans for a limit of two years. “I have repeatedly said that the Affordable Care Act isn’t perfect,” Udall said, “and it will need to be improved as it is implemented.” Udall already wants to push off the open enrollment deadline on the Obamacare health exchanges until the end of May. But Udall’s plan isn’t the only one in the offing. Senator Mary Landrieu (D-LA) has introduced the “Keeping the Affordable Care Act Promise Act,” co-sponsored by Sens. Dianne
“Even if it takes a change to the law, the president should honor the commitment the federal government made to those people and let them keep what they got.” — Bill Clinton, Nov. 12 So the former president asserts that the current president continues to dishonor his “you like your plan, you can keep your plan” pledge. And calls for the Affordable Care Act to be changed, despite furious White House resistance to the very idea. Coming from the dean of the Democratic Party, this one line marked the breaching of the dam. It legitimized the brewing rebellion of panicked
On Thursday, President Obama conducted the “Springtime for Hitler” of press conferences. He came out at noon and proceeded to blather his way through an hour of self-justifications and evasions and apologies and complaints. And as he went on, you could almost see America reacting as the audience in “The Producers” did to the happy-talk number about Adolf romping at his retreat in Berchtesgaden — with gaped-mouth astonishment. First, he said he had not been “informed directly that the Web site would not be working.” What on earth does that mean? Was he somehow informed indirectly? In an affronted tone, the president
The current troubles of the Obama presidency can be read back into its beginnings. Rule by personal charisma has met its proper fate. The spell has been broken, and the magician stands exposed. We need no pollsters to tell us of the loss of faith in Mr. Obama´s policies—and, more significantly, in the man himself. Charisma is like that. Crowds come together and they project their needs onto an imagined redeemer. The redeemer leaves the crowd to its imagination: For as long as the charismatic moment lasts—a year, an era—the redeemer is above and beyond judgment. He glides through crises,
MSNBC’s Martin Bashir on Friday closed his show with likely the most disgraceful rant against former Alaska governor Sarah Palin you’ve ever heard. Besides calling her “America’s resident dunce” and claiming she has a “deceased mind,” Bashir suggested that someone should defecate in her mouth and urinate in her eyes. MARTIN BASHIR: It´s time now to clear the air. And we end this week in the way it began - with America’s resident dunce, Sarah Palin, scraping the barrel of her long deceased mind, and using her all-time favorite analogy in an attempt to sound intelligent about the national debt.
Something is seriously wrong with conservatism. Since Ronald Reagan’s last year in office, Republicans have only twice won a majority of votes cast for president—both times with a George Bush atop the ticket. And neither Bush was a conservative. For 25 years, something has prevented conservatives from winning the White House and prevented the Republicans who do win from governing as conservatives. What could it be? The Tea Party has an answer: RINOs—liberal Republicans in Name Only—have sabotaged the right, most recently in October when they collaborated with Democrats to raise the debt ceiling and end the government shutdown. Once RINOs are