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To: Spekulatius who wrote (50136)	11/22/2012 9:40:25 PM
From: Madharry	Respond to of 78748

I agree with everything you said. sadly it has also been my experience that there are few ceo-s who will encourage people with divergent views from the ceo. so most people underneath just follow his lead. in fact a topic of conversation at dinner was some glaxo employee who wanted to shut down a plant because of safety issues and who was terminated almost immediately. That being said I still dont get the actions of many boards. where are the checks and balances that are supposed to be there. Where is the board of directors in all of this? Whitman was on the board she approved the purchase of autonomy. This was a new CEO and i find it hard to believe that the board just rubber stamped the purchase.

To: Spekulatius who wrote (50136)	11/24/2012 2:56:42 PM
From: Spekulatius	Respond to of 78748

HPQ / Autonomy - the Bronte blog has a post about it. Pretty good observations why Autonomy's numbers were suspect, even just looking at the audited financials. John H noted that the ratio if deferred revenues/receivables was out of whack relative to software peers. Also note that Chanos was short Autonomy at the time if the merger because he spotted that the numbers weren't kosher and lost money on that short, later shorted HPQ and got some money back. brontecapital.blogspot.com FWIW, Bronte capital has a short with Focus Media going on (supposedly a Chinese fraud that is in the process of being acquired) .