In August 2011, our colleague Rick Merritt opined that Leo Apotheker was not the chief executive to lead once-proud Hewlett-Packard out of the wilderness. That view was confirmed in spades a year later when Apotheker’s ill-advised $11.1 billion acquisition of British software developer Autonomy blew up in HP’s face.
Some have called November’s stunning $8.8 billion write-down by HP of the ill-fated Autonomy deal the worst corporate deal since AOL's acquisition of Time Warner in 2000.
Precisely where HP goes from here is pretty clear: If it survives, it can only go up since it now appears the computer company has just about hit rock bottom.
Meg Whitman has her hands full cleaning up the financial mess at embattled HP.