Hewlett Packard - Research Paper Hp

Topics: Hewlett-Packard, David Packard, William Reddington Hewlett Pages: 3 (803 words) Published: April 8, 2013
Hewlett Packard

Michelle Costa
December 3, 2012
MGT 249

Hewlett Packard, HP, is computer software, computer hardware, IT services and IT consulting American company. The name Hewlett Packard came to be after a coin toss which David Packard won. He decided to put William Hewlett’s name first. Bill and Dave met when they both attended and graduated from Stanford in 1934 with a degree in Electrical Engineering. Bill and Dave founded Hewlett Packard, in a garage, in 1939. The garage, where HP began, was located behind Bill and Dave’s apartment in Palo Alto, California. They rented this 12x18-foot space for $45 a month. HP was started with $538 in working capital, which included cash and a drill press. In 1987 the garage became historical landmark No. 976 and also became known as the birthplace of Silicon Valley. The first product successfully completed by HP was the Model HP200A, a precision audio oscillator. This product would sell for $54.40 while their competitors would sell them for over $200. Walt Disney Productions was one of HP’s customers, purchasing 8 Model 200B oscillators for $71.50 each. HP later produced the world’s handheld scientific calculator and the 1st handheld programmable calculator. HP over the years has created a variety of products that include but are not limited to calculators, desktops, laptops, servers, printers and scanners. On March 17, 1961, HP was first listed on the New York Stock Exchange. In 1998 HP changed its ticker from HWP to HPQ, because of its acquisition of Compaq. It’s stock currently sells for $12.99, closing price on November 30, 2012. HP currently employees approximately 349,000 people, in 2011. HP has acquired 119 companies since 1958. Some more recognized acquisitions Verifone, Compaq, Snapfish, VooDooPC, 3Com and Palm. HP was recognized for how well they treated their employees. In 1940 HP issued a $5 Christmas bonus and adopted production bonuses. In 1957 all employees with 6 months or more of service to HP...
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