Michael Dell

Michael Dell is the founder and chief executive of Dell, the world's third- largest computer hardware manufacturer by revenue. He was ranked the 41st richest person in the world on 2012 Forbes Billionaires list, with a net worth of US$15.9 billion as of March 2012. He currently owns about 15 percent of the Round Rock, Texas-based company. Through his New York-based investment firm, MSD Capital, Dell also controls an investment portfolio worth more than $9 billion

Microsoft and the PC industry: Defenestrated

UNTIL August 23rd few people would have described Steve Ballmer as “retiring”. Microsoft’s chief executive has played both tiger and Tigger: snarling (toothlessly, as it turned out) at Apple’s gadgets; and bouncing, with a whoop, onto conference stages to extol his company’s wares. But retiring he is, within a year.Mr Ballmer’s departure is a surprise. He had announced a reorganisation of the company only in July and had hoped to oversee much of the change. Some celebrated his going: Microsoft’s share price went up by 7.3% on the day the news broke. Mr Ballmer has plenty of critics, although Microsoft’s revenues have trebled on his 13-year watch, to $77.8 billion in the year to June, and profits have grown similarly, to $21.9 billion. The critics point at the rise of Apple and Google, and say Microsoft should have done better—or handed some of its $77 billion of cash to shareholders. In an interview with the Seattle Times, Mr Ballmer denied that pressure from ValueAct, a fund with a small stake in the firm, helped push him out.Microsoft sits atop a pyramid of companies that prospered from the long boom in personal computers (PCs). The vast majority of PCs run on Microsoft’s Windows operating system and are powered by Intel’s processors. They bear the brands of Dell, Hewlett-Packard (HP), Lenovo and others, and nowadays are mostly made by Taiwanese...

Source: www.economist.com | Date: 2nd September 2013 Read more

Carl Icahn’s latest investment: Nice juicy Apple

iPhone, iPad, iCahn ALTHOUGH he is still stirring things up at Dell, an ailing computer-maker, Carl Icahn has found time to tilt at another tech titan. On August 13th the veteran shareholder activist revealed that he had built up a stake in Apple, though he stayed mum about exactly how many shares he had bought. Mr Icahn’s intentions, however, are crystal clear: he wants the consumer-electronics behemoth to expand plans to return some of its whopping $147 billion of cash and marketable securities to shareholders.Mr Icahn is also after more money at Dell, where he has been lobbying with allies against a proposed buy-out plan put forward by Michael Dell, the firm’s founder, and Silver Lake, a private-equity firm. His pressing has already forced the buy-out group to raise its initial offer by over $350m, to $24.8 billion and he has taken his battle to the courts in a bid to extract an even higher price.Other tech firms have been attracting the attention of activist investors too. Earlier this year ValueAct Capital, an investment fund, said it had built up a $2 billion stake in Microsoft. Jaguar Financial, a Canadian bank, has been...

Source: www.economist.com | Date: 19th August 2013 Read more

Tech firms and their founders: Monarchs versus managers

THE epic struggle between two billionaires over the future of Dell has gone to another round. Michael Dell, the ailing computer-maker’s founder and biggest shareholder, has now been forced twice to postpone a vote on his proposal to buy out the firm and take it off the stockmarket, for fear that the deal’s critics, led by Carl Icahn, a veteran shareholder activist, may have enough support to scupper the plan.

Source: www.economist.com | Date: 12th August 2013 Read more

PC maker Dell postpones shareholder vote on buyout plan

The delay suggests a lack of shareholder support for CEO Michael Dell's plan to take the PC maker private with a $24.4-billion offer.Dell Inc. has postponed a shareholder vote on its $24.4-billion buyout plan, a sign that not enough investors were on board with founder and Chief Executive Michael Dell's bid to take the company private.    

Source: www.latimes.com | Date: 19th July 2013 Read more

Nikhil Kumar: America is getting back to work, but there aren’t jobs out at the margins

The latest monthly unemployment report from the US Department of Labor confirmed that the world’s largest economy is on the road to recovery. Not only were the figures for June better than many had hoped for, but, crucially, estimates for jobs growth in previous months hadn’t been positive enough. The upward revisions in the data for April and May, higher by a combined 70,000, drove up the average for the three months to June to a healthy 196,000. That’s very close to the rate that economists believe the US needs to maintain to get better.     

Source: www.independent.co.uk | Date: 8th July 2013 Read more

Infosys calls founder Narayana Murthy out of retirement

Outsourcing firm the latest to recall a founder or former chief executive to turn its fortunes round. One of the world's largest outsourcing companies, Infosys, has called its founder and former chairman Narayana Murthy out of retirement to head the company again, following the trend for major companies to bring back an old hand in times of trouble.

Source: www.guardian.co.uk | Date: 3rd June 2013 Read more

Dell's earnings fall 79% as PC sales sag

The profit plunge could play into the hand of CEO Michael Dell and other investors, who are seeking to take the company private in a $24.4-billion deal.ROUND ROCK, Texas — Dell Inc.'s earnings plunged 79% in the latest quarter as the shift to smartphones and tablets reduced demand for the company's personal computers.    

Source: www.latimes.com | Date: 17th May 2013 Read more

Dell is Back in Fashion

Michael Dell and Silver Lake Partners signed a definitive agreement to acquire the remaining 84.2% stake in Dell Inc. for $20.6 billion in cash on February 5th 2013. Under the terms of the agreement, Dell stockholders will receive $13.65 in cash for each share of Dell. Michael Dell and Silver Lake will Partners will also acquire all the outstanding options and restricted stock unit awards of Dell Inc, and have agreed to roll-over 273 million shares of Dell's common stock. The transaction will be financed through a combination of cash and equity.

Source: english.pravda.ru | Date: 6th March 2013 Read more