Meg Whitman inherited a company in turmoil in the middle of 2011 and the new CEO admits that a turnaround is taking longer than expected. In an industry that is increasingly shifting away from PCs to mobiles and tablets, HP's sales have tanked, down 7% from last year. The company also planned to layoff 29,000 jobs over three years and it's currently about halfway done. In the midst of continued doom and gloom, HP had to take an $8.8 billion charge after "serious accounting improprieties" were discovered at Autonomy, the British software firm it had recently acquired.
Wal-Mart retook the top spot, Berkshire Hathaway made the top five, and Apple grew enormously.