Struggling computer manufacturer Hewlett-Packard on Tuesday reported a massive $8.8 billion write-down stemming from its 2011 purchase of software company Autonomy for $11.1 billion. H-P alleged that Autonomy had engaged in widespread accounting fraud that artificially inflated the value of the company, a charge denied by Autonomy's former CEO, Mike Lynch. The write-down is just the latest in a series of blows to HP, which has struggled with dwindling profits as consumers increasingly use Apple computers and smartphones as their main platforms for using the internet.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- It's official: The religious right is calling it quits
- 43 TV shows to watch in 2014
- Obama just kneecapped Jeb Bush and Chris Christie's 2016 prospects
- The dangerously childish morality of liberal ObamaCare supporters
- How science is accelerating our search for alien life
- 10 things you need to know today: November 23, 2014
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Inside Turkey's shadow war with ISIS
- Why insects are the future of food
- 10 classic Sesame Street moments we wouldn't show today's kids
Subscribe to the Week