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HP SPENDS $1.45M IN Q1 2011 ON LOBBYING IN WASHINGTON. D.C.
SAN FRANCISCO — Hewlett-Packard Co. spent $1.45 million on lobbying in the first three months of 2011, slightly less than last year, as the world’s biggest technology company by revenue advocated on patent issues, changes to the U.S. tax code and defense spending, among other concerns, according to a recent disclosure reportThe range of lobbying issues illustrates the breadth of the Palo Alto, Calif.-based company’s business as it has morphed from a company that made most of its money from printer ink to one that now competes with IBM Corp. for technical services contracts, is making inroads against Cisco Systems Inc.in computer networking and is hoping to beef up its software business.
HP, which got a new CEO last year, has retained its lead as the world’s biggest maker of PCs.HP’s lobbying spending in the first quarter of this year was down 10.5 percent from the $1.62 million that it spent on lobbying in both the year-ago quarter and in the fourth quarter of 2010.
The lobbying targets in the first quarter included Congress, the Congressional Budget Office, the Treasury Department and other agencies. Other issues include the new federal banking regulations, expanding access to telecommunications services, and research funding for small businesses.
In HP’s fiscal second quarter, which ended April 30, the company earned $2.3 billion, a 5 percent rise from last year, on $31.6 billion in revenue, a 3 percent increase.
The company’s stock has fallen 13 percent since Leo Apotheker, the former CEO of German business software maker SAP AG, was named CEO in September. Apotheker replaced Mark Hurd, was forced to resign after a sexual harassment scandal. HP’s board didn’t find evidence of harassment, but did conclude that some expense reports submitted on Hurd’s behalf for dinners with his accuser were inaccurate, and voted unanimously to seek his resignation
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