Pauls Valley, OK, Pauls Valley Democrat

Business

July 19, 2013

Dell Inc. CEO delays buyout vote

ROUND ROCK, Texas — Michael Dell believes he can revive the company bearing his name if his group of investors can buy it for $24.4 billion. But that deal is in danger of falling apart, increasing the chances that the personal computer giant’s founder might not be CEO much longer.

The formidable challenges already facing Dell Inc. and its CEO got more daunting Thursday with the slumping company’s decision to delay a vote on Michael Dell’s proposed buyout.

The postponement until next Wednesday signals that a five-month campaign by Michael Dell and the company’s board hasn’t overcome the staunch resistance of billionaire Carl Icahn and other shareholders, who argue that the buyout price is too low and discounts the company’s long-term prospects.

Michael Dell’s offer has the support of three shareholder-advisory firms and is backed by the financial clout of buyout specialist Silver Lake Partners and a group of lenders. It would take the company private so that Michael Dell can try to engineer a long-term recovery without the glare of Wall Street and its fixation with quarter-to-quarter expectations.

The offer works out to $13.65 per share, or more than 40 percent below where the stock stood in early 2007. That was when Michael Dell returned for a second stint as the company’s CEO — just a few months before Apple Inc. started selling the iPhone, which triggered a mobile-computing revolution that left Dell Inc. on shaky ground.

Rather than relying on the types of desktops and laptops made by Dell, more people are embracing convenient and powerful smartphones and tablet computers to connect to the Internet and handle other common computing tasks. In a telltale sign of the upheaval, tablets are expected to outsell laptops for the first time this year.

Michael Dell plans to invest heavily in tablets and a new breed of hybrid PCs that offer the touch-screen controls of mobile devices. That commitment is likely to depress the company’s earnings until the additional spending pays off. At the same time, he wants Dell to become a diversified seller of technology services, business software and high-end computers — much the way IBM Corp. successfully transformed itself in the 1990s.

Text Only
Business
  • Tribal ag program brings farm to casino

    The Quapaw Tribe has started an agriculture program that is supplying locally grown products for its casino restaurant.

    May 12, 2014

  • Charities helping residents after wildfire

    Local charities are on the scene to help Logan County residents sift through the ashes after wildfires swept through the rural area near Guthrie.

    May 8, 2014

  • ALDI Norman store opens ALDI opens Norman store on West Main Street

    A light rain didn’t deter dozens of shoppers who showed up to help open the ALDI store at 2440 W. Main Street in Norman early Thursday.

    May 8, 2014 1 Photo

  • Lebanese Festival planned for two days

    Food, music, dance, culture and traditional home-cooked Lebanese food once again comes together in Norman in the form of Middle Eastern hospitality.

    April 24, 2014

  • Senators accuse GM of covering up defective switch

     Members of a Senate subcommittee accused General Motors of trying to cover up problems with an ignition switch that is now tied to 13 deaths, and pressed CEO Mary Barra to commit to punishing anyone involved.

    April 2, 2014

  • Bethesda 1 University of Okla. students paint murals, brighten up nonprofit

    The harsh, cold, metal door slipped away as green, then blue, turned into a lush, green field with a winding path and a group of University of Oklahoma undergraduate students painted murals Monday at Bethesda Inc., a local agency that specializes in sexual abuse treatment and prevention for children and adolescents.

    March 25, 2014 2 Photos

  • Fly-tying Frenzy at Sam Noble Museum

    The Sam Noble Oklahoma Museum of Natural History will offer Fly-Tying Frenzy, an adult fly-tying workshop, from 8 to 11 a.m. for beginners and from 1 to 4 p.m. for intermediate and advanced participants April 5.

    March 12, 2014

  • JC_GE BUILDING.jpg Industry giants represented at Oak Tree

    Two corporate leaders discussed their company’s respective impact of business expansion on the local economy Thursday at the Edmond Chamber of Commerce Membership Luncheon.

    February 28, 2014 2 Photos

  • Cherokee Nation raising minimum rage

    The Cherokee Nation, one of the largest Native American tribes in the country, is raising its minimum wage by 50 cents, Chief Bill John Baker announced Monday.

    February 25, 2014

  • Moore City Council denies zoning change request

    Residents protesting a requested zoning change to allow apartments to be built in an area devastated by the May 20 tornado filled Moore City Hall on Tuesday night, then applauded when the Moore City Council denied the zoning change request unanimously.

    February 19, 2014

Business Marquee

e-Edition
  • How You Want It When You Want It Today's Pauls Valley Democrat

    Now you can view and download the Democrat right to your desktop on the day the paper is published. Click here to get more information on the Democrat's e-Edition.

     

    CLICK HERE TO ACCESS THE E-EDITION SITE

     

    ATTENTION CURRENT DEMOCRAT SUBSCRIBERS TO START an e-EDITION

    e-mail request to sjohnson@pvdemocrat.com

    April 20, 2011 1 Photo 1 Link

AP Video
Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites Anti-violence Advocate Killed, but Not Silenced. Dempsey: Putin May Light Fire and Lose Control Arizona Prison Chief: Execution Wasn't Botched Calif. Police Investigate Peacock Shooting Death Raw: Protesters, Soldiers Clash in West Bank Police: Doctor Who Shot Gunman 'Saved Lives' 'Modern Family' Star on Gay Athletes Coming Out MN Twins Debut Beer Vending Machine DA: Pa. Doctor Fired Back at Hospital Gunman Raw: Iowa Police Dash Cam Shows Wild Chase
Stocks
Facebook