Together they stand, together they ...

During the Olympics, I'm always glued to my TV, watching the wonder that is synchronized diving. Who knew such a thing existed? Or, more importantly, why? (Thank you, China, for making it nearly impossible to find any coverage of the sport from the 2008 games.)

Raising them one, BearingPoint and Unisys now bring us synchronized reverse stock splits. BearingPoint's will go into effect tomorrow, at a 1-to-50 ratio, which will ultimately free up debt. The company needs to meet $200 million in debt obligations by April 2009 ? or else ?

Unisys, mirroring the dive in perfect time, announced last Friday that its board of directors had approved its own reverse stock split, in an attempt to boost its share price above the $1 minimum mandated by the NYSE. The split will need to be approved by shareholders at the firm's annual meeting in early 2009.

Do I sense a new spectator sport on the horizon?

In other news, HP has announced that EDS will become a business unit within HP's technology solutions group. HP acquired EDS in May 2008, but the original plan had HP moving its outsourcing and application services business over to EDS headquarters and calling it EDS, an HP company. As we've all observed, however, times have changed. Under a three-year restructuring plan aimed to boost revenue and cost efficiency, HP will now integrate EDS into its operations. Unsurprisingly, the new plan involves more than a few cutbacks. 24,600 seats, to be exact. EDS chief Ron Rittenmeyer will retire effective December 31, 2008.