[Info-vax] HPE buys Cray

[Kerry Main]

> -----Original Message-----
> From: Info-vax <info-vax-bounces at rbnsn.com> On Behalf Of Arne Vajhøj
> via Info-vax
> Sent: May 20, 2019 8:30 PM
> To: info-vax at rbnsn.com
> Cc: Arne Vajhøj <arne at vajhoej.dk>
> Subject: Re: [Info-vax] HPE buys Cray
> 
> On 5/20/2019 8:02 PM, Kerry Main wrote:
> >> From: Info-vax <info-vax-bounces at rbnsn.com> On Behalf Of Dave Froble
> >> via Info-vax
> >> Sent: May 20, 2019 5:00 PM
> >> On 5/18/2019 10:50 AM, Kerry Main wrote:
> >>
> >>> Well, Cray must still have some smarts and/or value add left.
> >>
> >> Kerry, you're talking about HP.  Remember the British company they
> >> spend something like 9 billion on?
> >
> > You mean Autonomy who cooked their books and who the US DOJ
> launched
> > criminal charges last Nov against their CEO and VP of Finance?
> >
> > <http://fortune.com/2018/11/30/hewlett-packard-autonomy-doj-
> lawsuit/>
> > Nov 30, 2018 - The Department of Justice filed criminal charges on
> > Friday against former Autonomy CEO Mike Lynch, accusing the British
> > executive of misrepresenting Autonomy's finances in the lead up to the
> > company's $11 billion sale to HP in 2011. Autonomy's then vice
> > president of finance, Stephen Chamberlain, is also named as a defendant in
> the lawsuit."
> >
> > A more recent update: Mar 22, 2019
> > <https://www.accountingtoday.com/articles/hp-readies-5b-accounting-fra
> > ud-tri
> > al-against-autonomy-founder-mike-lynch>
> 
> Yes.
> 
> There is every reason to suspect serious foul play.
> 
> But that does not make HP look good.
> 

There were many things HP did wrong - this Autonomy deal was one of many, albeit one of the biggest. 

Case in point - I wonder how many Engineering, sales, support and marketing resources one could acquire for $11B?

This article shows how upset HP was with its CEO (Leo Apotheker) for making such a bad deal - It fired him and "only" gave him a $2.5M bonus after approx.. 2 years on the job.

Apotheker severance outrage: $2.4m 'bonus'
<https://www.theregister.co.uk/2011/09/30/hp_apotheker_whitman_pay/>

"The rich are different from the rest of us not just because they have more money, but also because they get multimillion-dollar bonuses even when they run a company onto the rocks, as did former HP CEO Léo Apotheker. "

Gotta love how senior Execs and BOD members play the game and support each other regardless of what happens.


Regards,

Kerry Main
Back to the Future IT Inc.
Mobile: 613-797-4937
Office: 613-271-1943
FAX:    613-599-6261
Kerry.Main at BacktotheFutureIT.com 
http://ca.linkedin.com/in/kerrymain 

Learning from the past to plan for the future