Join The Discussion

 

Fort Worth's new thoroughfare plan aims for more variety in street design

Fort Worth is launching a review of its master thoroughfare plan aimed at accommodating continued suburban growth and central city redevelopment with a greater variety of streets and more efficient traffic flow.

read more >

Holt Hickman, businessman who helped preserve Stockyards, dies at 82

Longtime Fort Worth businessman, philanthropist and preservationist Holt Hickman died Nov. 15, 2014, at the age of 82.

read more >

UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

read more >

Tiger Woods takes a swing at Fort Worth's Dan Jenkins - in print anyway

Rarely does Golf Digest make the news. Leave it to Dan Jenkins to change that.

read more >

Crestwood area hoping to block planned office building

Residents of West Fort Worth’s Crestwood Association are trying to block the rezoning of a small apartment complex at White Settlement Road and North Bailey Avenue to make way for a planned office building, saying it would represent the start of commercial encroachment into their neighborhood.

read more >

HP continues to suffer from massive PC slump

Julianne Pepitone

NEW YORK (CNNMoney) -- The world of personal computing has changed, and Hewlett-Packard simply isn't adjusting well to the evolution.

As PC sales continue to slump around the world, formerly mighty HP is suffering. Sales of consumer PCs fell a stunning 22% over the year during the company's fiscal third quarter, and HP's overall PC and tablet sales declined 11%.

Overall, HP's sales and earnings for the quarter were in line with Wall Street's dour estimates. HP's earnings came in at $1.4 billion in the company's fiscal third quarter, up from a $8.9 billion loss on a hefty writedown of its services business. Excluding those one-time charges, HP's profit would have fallen by 14%. Sales fell 8% to $27.2 billion.

HP shares fell nearly 2% in after-hours trading.

CEO Meg Whitman has admitted that HP is struggling, repeating several times that HP's turnaround won't be "linear" as it tries to thrive in a tablet- and smartphone-centric world. She hasn't shied away from making big moves, including executive shakeups -- she has moved around many of HP's honchos in recent months. On Wednesday she reassigned enterprise head Dave Donatelli and Chief Marketing Officer Marty Homlish. PC chief Todd Bradley was shuffled to another division in June, and printing division chief Vyomesh "VJ" Joshi -- a 32-year veteran of HP -- stepped down early last year.

Whitman has also embarked on an aggressive cost-cutting scheme that includes plans to eliminate 29,000 jobs by the end of fiscal 2014.

Investors have rewarded Whitman's big decisions. HP's stock is up an incredible 79% year-to-date. But after several years of decline, HP shares had virtually nowhere to go but up.

Still, the company faces serious problems. HP is struggling to reconnect with consumers as the PC market continues to contract at an alarming rate. Shipments of PCs around the world fell by 11% last quarter, according to tech research firm Gartner.

The PC woes ailing HP have also hurt its other big firms in the industry. Last month Intel reported a profit drop of 29% over the year. Google and Microsoft missed earnings estimates, and Microsoft also took a massive writedown on its Surface tablet. Apple's profit fell 22% but still beat Wall Street estimates. And Dell is in the throes of going private in order to survive long term.

The corporate side of tech hasn't fared much better lately. Last week, behemoth Cisco announced it would lay off 4,000 employees, or 5% of its workforce. IBM recently reported earnings that topped analyst estimates, but sales fell on an annual basis for the fifth straight quarter.

< back

Email   email
hide
Midterms
What was the message of the midterm elections?