Michael Dell

16 Stories

Blackstone Ditches Dell Bid

Now it's between Carl Icahn and Michael Dell

(Newser) - The odds that Michael Dell will be able to buy back his namesake company have just gotten a lot better, sources tell Reuters , because Blackstone Group has dropped its bid for the PC company. Blackstone said it was pulling out in light of a 14% industry-wide dip in PC sales... More »

Carl Icahn Could Snatch Dell Away From Michael Dell

Two alternative offers come in for tech giant

(Newser) - Michael Dell might not get the company he founded back after all. Carl Icahn and the Blackstone Group have both put in competing bids for Dell (the company), and they both appear to value it more highly than the offer Dell (the guy) put in last month , the company confirmed... More »

Dell Going Private in $24B Move

Founder looks to overhaul 30-year-old firm

(Newser) - Dell has reached a deal to go private, the company has announced. Shareholders will receive some $13.65 per share in a $24 billion deal, the New York Times reports, which marks a 25% premium over Dell's January share price. The privatization deal with Microsoft and private equity company... More »

Dell May Launch Smartphone

(Newser) - Dell is considering a move into the smartphone business, the Wall Street Journal reports. The computer company has had engineers working on models for more than a year and could launch a competitor to the iPhone or Blackberry as early as next month. CEO Michael Dell also could pull the... More »

Snarling Putin Smacks Down Dell's Net Offer

Russia's Putin tells off Michael Dell

(Newser) - Russian leader Vladimir Putin fired a withering public broadside at computer tycoon Michael Dell at the World Economic Forum. When Dell offered to help expand the Internet in Russia, Putin snapped: "We don't need help. We are not invalids. We don't have limited mental capacity." More »

Russia, China Blame US for World's Mess

(Newser) - The leaders of Russia and China laid the blame for the world's financial troubles squarely at the feet of the US today, the Wall Street Journal reports. In speeches at the world economic forum in Davos, both focused on the role of the dollar, with Putin calling the world's over-reliance... More »

Wreck of IndyMac Sold for $13.9B

Soros, Dell among the players in FDIC's damaged-goods sale

(Newser) - A team of high-profile investors has bought the remains of failed bank IndyMac from the FDIC for $13.9 billion, the Wall Street Journal reports. The investors, including George Soros and computer tycoon Michael Dell, have agreed to share the losses from IndyMac's portfolio of troubled mortgages in a deal... More »

Downturn Derails Dell's Turnaround

Cost-cutting kills off plans for flashy new product lines

(Newser) - Shifting consumer demand and the sagging economy spell trouble for Dell's turnaround strategy, the Wall Street Journal reports. Founder Michael Dell had been making progress since returning to the company last year with a two-pronged rescue plan, but weak sales mean his goals of cutting costs at the low end... More »

Market Meltdown Reshapes Forbes Rich List

Buffett bumps Gates in redrawn rankings of world's wealthiest

(Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as... More »

Dell to Sell Factories as It Retools Strategy

PC maker will shed infrastructure in effort to stay competitive

(Newser) - Dell is looking to sell off its computer factories, the Wall Street Journal reports, drastically altering a business model that was once the envy of the industry. Journal sources say the aim is to sell most, if not all, of the plants in the next 18 months; most likely buyers... More »

Dell Looks to Muscle In on iPod

New player, music service could debut by September

(Newser) - Dell has decided it’s time for a rematch with Apple’s iconic iPod, and the company is planning to introduce a new digital music player and online download service as early at September, the Wall Street Journal reports. Dell failed in its bid to gain a seat at the... More »

UK Immigration Rules Would Exclude This Man

Without college degree, Gates wouldn't qualify for visa aimed to bring skilled labor

(Newser) - Strict new immigration rules aimed at attracting highly skilled workers to Britain would keep tech icons Bill Gates, Steve Jobs and Michael Dell from getting top-tier visas, Bloomberg notes, because they don't have college degrees. "It's a dumbing-down,'' one opponent says. "If you're a 20-something American with... More »

Profits Slide as Dell Streamlines

6.5% drop on consumer slump, 'slow as molasses' turnaround

(Newser) - Dell posted a 6.5% decline in profits for its fiscal fourth quarter yesterday, citing slowed consumer spending and the cost of restructuring, which included slashing thousands of jobs, the Wall Street Journal reports. The Dell results are likely to cause concern about other tech stocks—especially those that rely... More »

Dude, You're Losing an Account

Dell hires WPP to form one ad agency replacing the work of 800

(Newser) - Computer giant Dell has chosen WPP to handle all of its global advertising and marketing - bringing to one agency $4.5 billion worth of billings that had been spread among an astonishing 800 agencies world wide. The Wall Street Journal reports Dell and WPP will strike a unique partnership... More »

Investors Worry Dell's Road to Recovery is Too Rocky

Quarterly earnings announcement prompts big Wall Street selloff

(Newser) - Computer-maker Dell’s rollercoaster ride isn’t over and it’s left investors woozy. Despite increasing net income 27% in third quarter earnings released yesterday, Dell shares slipped nearly 10% in after hours trading, giving back nearly everything the stock gained leading up to the report and underlining CEO Michael... More »

Wal-Mart, You're Getting a Dell

Direct-to-consumer giant will get in-store presence at big-box superstar

(Newser) - Dell is about to expand beyond its traditional direct-to-consumer sales channels in a big way: by making a deal with Wal-Mart. The struggling computer maker and the world's largest retailer announced today that Wal-Mart and Sam's Club stores will start carrying Dell Dimensions next month. The two exclusive models will... More »

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