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HP Buys Compaq
MaxVlast was the first to report: "The New York Times is reporting that HP is buying Compaq to form the second-largest computer company (after IBM). Wow."
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Great - now there's only one brand of cheap, crappy computers on the market.
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When announced job reductions, of 8,500 jobs at Compaq and 9,000 at Hewlett-Packard, are completed, employment at the companies will be about 62,800 at Compaq and 87,000 at Hewlett-Packard. Further reductions seem likely, as executives said that they expect annual cost savings of $2.5 billion within several years.
In its most recent 12 months, Hewlett-Packard reported revenues of $47 billion, while Compaq had revenues of $40 billion. The combined $87 billion is close to the $90 billion reported by I.B.M., and far above the $33 billion for Dell Computer, which now ranks fourth and would move to third if the merger is completed.
In its most recent financial report, for the nine months through July, Hewlett-Packard said its revenues were down 5 percent from the comparable period a year earlier, to $33.7 billion. But its net income fell 82 percent to $506 million. Compaq, reporting on the six months through June, said revenues fell 13 percent to $14.2 billion. It suffered a net loss of $201 million for the period, compared with a profit of $684 million in the same period of 2000.
I will not ever sit back and haplessly allow my company to abandon the things that make it unique, the individuals that have brought it to where it is, in order to pursue stupid figures such as yearly profit.
Just because there is an 'economic down turn' does not mean that, for the next FIVE YEARS (not three months or one year or next week, as the rapidly changing investors' markets focus on)HP won't be pioneering in quality, reliable computer technology. As someone who actually gives a shit about the future of companies that produce products that I like, I refuse to believe that the stock market's logic can positively affect these companies.
Short term profit goals must be met in a modern investment climate. HP and Compaq merged to save money, but they will wind up cutting the very things that make them unique and separate products in order to save money.
Compaq and HP merging is like Kia and Saab merging. HP computers kick so much ass, and last for such a long time
I have an ancient HP Vectra VL2 downstairs that still carries its own weight in my household. What parts of shitty Compaq will they be using in HPs now?
Parts of hardware? Parts of support?
I don't really care one whit about the existence of Compaq or not, and I can't see any benefit from HP having a larger cashflow, except for to the stupid stock market, which has nothing to do with the basic economic dynamic of a company producing a product to please its customers.
Goat sex free since 2001
ha, thats good, how about "Hewlett packcrap? It doesnt matter, its all crap ;)
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I thought UNISYS was subsisting on money made from the LZW patent? :/
Just because it CAN be done, doesn't mean it should!
Maybe HP can show Compaq how to make a recovery disk with actual drivers on it and drop the stupid softpaq crap.
---- "Excuse me. Where's the children's gun section?"
All the idiots of the world are now doomed. 2 crappy computer manufacturers teaming up to build the least upgradable, overclockable and user "friendly" computers ever. Get AOL in on this and I forsee the end of the world. (Sidenote, i have no problem with the HP printer and related products. Just the computers)
Apple doesn't sell PC's...
Shutting down free speech with violence isn't fighting fascism. It IS fascism!