A Spectacular Quote to Note: HP Autonomy Again
December 1, 2012
Short honk: The source is the New York Times. The article is “From HP, a Blunder That Seems to Beat All.” If the link is dead, you can chase the story in the dead tree version of the December 1, 2012, newspaper on page B1 with the jump to B6. Here’s the quote about HP Autonomy:
Autonomy “will arguably go down as the worst, most value-destroying deal in the history of corporate America,” Mr. Sacconaghi asserted.
I wanted to highlight another comment from the article. Try this one on for size:
Adjusted for relative performance to the broad market, HP’s shareholders have suffered far more than Time Warner’s did.
I think this quote will be worth keeping too. The New York Times attributed this gem to Léo Apotheker, former top dog at SAP and HP:
We did that analysis [Autonomy] at great length, in great detail, and we fee that we paid a very fair price for Autonomy. And it will give a great return to our shareholders.
One thing is certain. An MBA case study is coming down the pike.
Stephen E Arnold, December 1, 2012