Friday, December 28, 2012
Compounding Embarrassment
Wasn't it enough to admit that one overpaid for a company and perhaps, fraudulently? Hewlett-Packard has now announced that the Department of Justice is looking into the Autonomy acquisition for evidence of cooked books. This threatens to embed a stain on the company and its board, already widely criticized. H-P forced the investigation through its public charges and is cooperating in the DOJ action. The net result, however, is that it prolongs public attention on a sorry episode that might be better left behind. It is understandable that H-P wants justice, but sometimes justice doesn't serve everyone well. It is too late now. The firm will have to see the investigation through and live with any embarrassing information that is revealed. It might get some of its billions back, but in the end, will it be worth the humiliation?
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