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...other companies were scaling back in the past two years, HP was on the hunt for bargains. Hurd found his first in August 2008, when HP spent $13.9 billion to buy the languishing infotech-consulting giant Electronic Data Systems (EDS), a direct play against high-end-services leader IBM. Then last November, HP announced it would pay $2.7 billion for networking concern 3Com, a means to rile Cisco as well as expand HP's footprint in the rapidly growing China market, where 3Com is strong. About 70% of HP's business is overseas...
...home, Hurd has had to reconcile his drive for efficiency with HP's legacy of letting the geeks in R&D roam freely. Innovation, after all, is what tech companies do. And critics note that HP's $17 billion in overall R&D investment since 2004 has dwindled as a percentage of its growing sales...
...change we made was to take our brilliant scientists and sharpen their focus around a much smaller pool of big bets," Banerjee says. Of these 21 projects, he adds, "we set a high bar that every single one must have the potential to [generate] $1 billion - plus in revenue...
Greece can breathe a sigh of relief. On April 11, the 16 members of the European Union that use the euro agreed to lend $40 billion to the struggling nation. Under the long-awaited financial-rescue plan, Greece, which is $400 billion in debt, would be able to borrow at interest rates of about 5%, significantly lower than commercial market rates, which have been higher than 7%. The International Monetary Fund is expected to offer an additional $20 billion. Greece did not immediately accept the E.U.'s overture, saying it would wait to see if the pledge alone was enough...
Though the Business School has continued to finance seven to 10 substantial sustainability projects each year since 2005, the $11 billion decline in endowment value in the year ending June 30, 2009 has affected other schools’ plans for green infrastructure changes...