HP exempted from selling SAfrica stake in skills deal
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Hewlett-Packard has become the first multinational to be exempted from selling 30 percent of its business in South Africa to black investors, the US computer giant and government said on Monday.
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Investors seeking to sell a share that they do not own will no longer be barred from doing so because the price of the stock is falling.
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Printer and PC maker Hewlett-Packard Co. (HPQ.N: Quote, Profile, Research) will stop offering desktop workstations based on Intel Corp.
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Promises not to do it again HP has settled allegations over its failure to disclose why one of its directors resigned in the midst of last year's boardroom mole fiasco.â¦
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PALO ALTO, Calif. --(Business Wire)-- Sept. 15, 2004 -- HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that it has been awarded a 10-year contract worth $290 million by the Defense Logistics Agency (DLA), an agency of the US Department of Defense.
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By Pete Carey, San Jose Mercury News, Calif.  Dec. 14--Congressional investigators are questioning Hewlett-Packard CEO  Mark Hurd's sale of stock options that gave him $1.37 million in gains, 15  days before the company's controversial boardroom-leak investigation became  public.
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(InfoWorld) - Hewlett-Packard Co.'s (HP's) board of directors has approved a severance package including $3.7 million in stock options for its general counsel, who resigned Thursday amid a growing scandal into HP's conduct during an investigation into board leaks. Ann BaskinsÂ resigned Thursday just before a U.S. Congress subcommittee hearing on HP's investigation methods, including investigators pretending to be reporters or board members to gain access to their personal telephone records and other data. That practice is often called pretexting. During the hearing, former HP Chairwoman Patricia DunnÂ told lawmakers that Baskins had repeatedly told her the year-long investigation was done legally. HP filed a form with the U.S. Securities and Exchange Commission (SEC) Thursday saying it would provide Baskins with a compensation package, including the option to sell her outstanding stock options, worth nearly $3.7 million, by Nov. 22. Baskins will also have access to the vested portion of her retirement account at HP and to other benefits. If she accepts the package, she will give up any claims against HP and its employees, according to the SEC document. Baskins declined to testify before the subcommittee, citing her right to not testify against herself. Members of the Oversight and Investigations subcommittee of the House Committee on Energy and Commerce hammered HP officials Thursday for investigators who allegedly lied to gain access to others' personal records, for attempting to trace the e-mail of a reporter and for following reporters and board members. Representative Ed Markey, a Massachusetts Democrat, also questioned why HP was giving Baskins a "golden parachute" after Dunn identified her being one of the internal leaders of the leak investigation. "Do you think that's appropriate?" he asked Dunn. Dunn,Â who resigned from the HP board Sept. 21, said she was not a part of the board discussion to approve Baskins' severance package. She would have to hear the discussion before deciding if it was appropriate, she said. Baskins worked for HP for 24 years and served the company well before the recent questions, Dunn said. "She bled HP blue," Dunn said. "She made some mistakes."
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By Connie Guglielmo  Shares of Hewlett-Packard, the world's largest maker of personal computers, fell Wednesday after holiday price cuts on PCs weighed on profit margins and the company's growth forecast disappointed some investors.
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(InfoWorld) - IBM sold off a chunk of its stake in Lenovo Group, leading the world's third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday. Lenovo spokeswoman Angela Lee said IBM had informed the company it planned to sell a large block of shares but had not provided specific details of the transaction. IBM did not immediately respond to a request for comment. "The trading of Lenovo's shares has been suspended at our request, pending the release of an announcement ... relating to the placing of Lenovo's shares by IBM," Lee said. At 2:40pm local time Tuesday afternoon, trading of the company's shares remained suspended. IBM did not respond to a request for comment. Lenovo's shares were trading at HK$3.20 (US$0.41) per share when they were suspended, a drop of 7 percent from the previous day's close. That price matches the reported selling price IBM received for its shares, which were offered to investors at a discount, according to several press reports Tuesday. Citing information offered to investors, those reports said IBM sold 300 million shares in Lenovo Group in a sale worth HK$960 million (US$123 million). IBM, whichÂ sold its PC division to LenovoÂ in 2005, has gradually reduced its stake in Lenovo since that deal. A further sale of shares would be in keeping with the company's stated plan to sell down its stake in Lenovo. Prior to the reported sale, IBM held a 13.2 percent stake in Lenovo, making it the company's second-largest shareholder. The sale of shares -- estimated at 3.5 percent of Lenovo's total shares -- will reduce IBM's holdings to 9.7 percent of the company. While IBM reduces its stake in Lenovo, the two companies remain close partners. Lenovo Tuesday announced the signing of a five-year agreement forÂ IBM to provide technical support, installation, deployment and other PC-related services to its customers. The deal could be worth up to US$245 million to IBM, Lenovo said in a filing to the Hong Kong stock exchange. Â
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A 30 percent stake in Hewlett-Packardâs Chinese operations is up for sale to the highest bidder as the companyâs Chinese partner looks to sell its shares.
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Blog: Hewlett-Packard is selling the long-time employee getaway spot to two non-profits, which will work the the California state government to operate the land as a state park.
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A 30 percent stake in Hewlett-Packard&#39;s Chinese operations is up for sale to the highest bidder as the company&#39;s Chinese partner looks to sell its shares.In a filing (in Chinese) with the China Beijing Equity Exchange, state-owned China Electronics Import &amp; Export Co. (CEIEC) invited bids for its stake in China HP and set a minimum price of 967 million yuan ($133 million).CEIEC will accept bids until Feb. 2 from qualified Chinese companies. Offers from financial institutions or hedge funds will not be considered, it said.HP had little to say in response to CEIEC&#39;s offer, but reaffirmed the importance of China HP to its overall business.&quot;China is a critically important market to HP and continues to hold tremendous opportunities for our business. ... Whilst we do not comment on our financial or operational plans in the future, HP will ensure its business operations remain unaffected,&quot; wrote Joanne Tan, a company spokeswoman, in an e-mail.China HP was founded in 1985 as a joint venture between HP and CEIEC. Over the years, the joint venture has been successful and China HP is a major player in key local markets, such as PCs and servers.Joint ventures are a common way of doing business in China, with foreign companies tapping the experience and connections of a local partner.In the best situations, these partnerships can help the foreign company build and grow their business in China faster than would otherwise be possible.
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Palo Alto-based Hewlett-Packard Co. has bought IT services company Synstar plc, of Bracknell, England for about $293.3 million. Synstar has some 1,500 customers across Europe, selling IT support for various computer platforms.
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âThe firms have agreed to contribute without admissions to a fund, which will be available for distribution to eligible individuals who invested in zero dividend preference shares
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Americas overhaul underway Exclusive David Booth, one of HP's top sales executives, has left the company, The Register has learned.â¦
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Hewlett-Packard Co. will no longer sell computer workstations using the Intel Itanium chip, which the two giant tech companies worked together to design.
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Citing the standard âmarket conditions,â the company now says that such a move wouldnât be in the interest of stockholders.