I decided at the time I should hang on, but I would rotate out of the current options (covered calls) and move to a more defensive position writing in the money calls. Knowing that if I was wrong about HP the stock had much further to fall, it was the only reasonable way to stay exposed. This game played on for several months. When I seriously questioned if things could get much worse (the dividend yield was climbing from the price drop and the PE ratio was falling too), the other shoe dropped. The second shoe wasn't an Oxford, but one worn by Meg Whitman. I don't care if the CEO is a man or woman, like most investors I only care about making money. I experienced firsthand customer service and leadership of Whitman as a customer of eBay ( EBAY) (top-rated in volume and ratings) about 13 years ago. The experience didn't leave a favorable impression of Whitman. I wrote more about the subject
I am not sure if dropping the consumer business segment would have resulted in a net positive or not, but I leaned towards not liking it. I use all HPs for my scanning and trading computer needs. I also use workstations, which I believe would not have been cut.