Moody's Investor Service has cut its credit rating on HP indicating a lack of confidence in Meg Whitman's ability to return the sickly tech monster to the road to recovery. The rating now stands at Baa1, three levels above junk, down from the relatively exalted score of A3 - and the outlook is negative. "Although HP will …
I hope HP delivers on this. It could save their asses.
We could do with some good news at the coalface. Us grunts keep delivering to our customers, but the past few years have been very demoralising. We keep delivering the revenues and profits only for Axeman Hurd and Zany Leo to stab us in the back or to blow the cash on the latest vanity purpose. Meg must be wondering why on earth she bothers coming in to work. It's not like she needs the money. There are a lot of good people here so don't write us off yet.
Step 1. Fire Whitman
Couldn't make it as a politician and hasn't made it as HP guiding light.
What HP needs is a Scott Forstall to kick some butt!
Re: Step 1. Fire Whitman
I don't think the current woes can be laid at Meg's door. In my opinion we are still seeing the damage that Mark Hurd wrought to R&D and staff morale play out. You are right in one respect - hp could do with someone close to the top who has a decent vision about where this behemoth is heading, and one with a proper engineering background at that. Right now there are still too many MBAs trying the same thing over and over again and being surprised when they don't get different results.
I just spent 40k on a load of HP servers........
...and they stopped working suddenly? They refusing to boot or something? You just bought 40K of HP servers because they are decent pieces of kit. HP is still around and will be for some time, certainly for the life of those servers. Take a deep breath and chill out dude.
In this economy everyone is taking a hit. Sony and Panasonic are just above junk bond status last I heard. People are barely feeding themselves and all institutions are cutting back. It will turn around. Might be a while, but things will get better.
You write down a measly 16 billion dollars in a span of 90 days, and suddenly everybody gets all nervous Nelly on ya. Bunch a pansies.
"They're Just Opinions"
I wouldn't worry too much about what Moody's say, it could be argued that they colluded with other financial institutions to cause the Great Financial Meltdown of 2008. Watch "Inside Job" with Matt Damon and see what I mean. People are trading stocks on what Moody's say, and the bottom line is, it's all collusion and bullshit. Moody's staff stated in official hearing that credit ratings are "just opinions", which is handy when your pension fund goes down the shitter.
Re: "They're Just Opinions"
Have you taken a look a HP's share price movement graph??
Re: "They're Just Opinions"
Yep, if anything now's the time to buy, all the bad news is out of the way they're funding R&D and have a shed load of new product on the horizon.