HP's Race To Destruction

Anyone who is technical savvy in anyway has a soft spot for Hewlett Packard - one of the original garage start ups.

So it pains me that HP, its board and, by proxy, its shareholders are steering a route to destruction.

HP has a strong core business - printers specifically - but its inability to find a leader who can steer the company has meant that it has been sidetracked by a horrendous list of acquisitions that have bled the company's value away.

So far the acquisitions of Palm, EDS and Autonomy have resulted in write-offs to the tune of nearly $20bn. add to that the damage done to HP's PC division by Leo Apotheker's announcement that HP was heading out of the hardware business and it adds up to HP effectively taking a year's worth of Apple's profit and burning it.

Meg Whitman has a tough job ahead of her - not least because she was part of the board that approved the purchase of Autonomy. I fear that her legacy will be a fatally wounded company. In much the same way that Carly Fiorina damaged the company before her.


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