Skip to main content

Hewlett-Packard Interim Chairman Whitworth resigns

By WTOP Staff

PALO ALTO, Calif. (AP) — Hewlett-Packard’s interim chairman, Ralph Whitworth, has resigned from the company’s board to concentrate on personal health issues.

Whitworth’s resignation is effective on Wednesday. The technology products and services company said that its board will discuss appointing a new chairman at its next meeting.

Whitworth became HP’s interim chairman in April 2013 after former chairman Ray Lane stepped down from his post. At the time that Lane stepped down, HP also announced that directors John Hammergren and G. Kennedy Thompson were leaving the board. The shake-up was spurred by disgruntled stockholders unhappy with HP’s performance.

HP has been working on a turnaround of its business amid slumping PC sales in recent years, cutting expenses and focusing on more profitable areas such as software and services. Like other PC makers, the company had trouble keeping up with the likes of Apple and Samsung. Whitman has warned that the turnaround will be a long-term endeavor. The company’s most recent earnings report, in February, topped Wall Street’s expectations.

Whitworth, an activist shareholder, has served as an HP board member since 2011. The co-founder of Relational Investors LLC, he was named to the company’s board to placate investors rattled amid management turmoil at the company following CEO Mark Hurd’s ouster in 2010 amid an ethical scandal. Hurd’s successor, Leo Apotheker, was ousted in September 2011 and replaced by former eBay CEO Meg Whitman, who is still at the company’s helm.

“HP’s shareholders can be very confident that Meg, her team and the current board will stick to the strong practices and discipline we’ve put in place,” Whitworth said in a statement. “While I’m disappointed to step down from HP’s board at such an exciting time for the company, it gives me great comfort that HP is in such talented and steady hands.”

Whitworth is also taking a leave of absence from the privately held investment company he co-founded, Relational Investors. He was 58 as of a February regulatory filing, the latest available. HP could not immediately be reached Tuesday morning to confirm his age.

Shares of Palo Alto, California-based Hewlett-Packard Co. climbed 26 cents to $34.41 in morning trading on Tuesday. Its shares are up 23 percent in 2014.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote