Scandal is gossip made tedious by morality - Oscar Wilde
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Dell shareholders revolt
TINMAN Michael Dell has been smacked down by shareholders who refused to support the boss in a vote.
According to the New York Times, up to 25 per cent of investors decided not to support Mr Dell in a recent vote at a shareholders meeting.
"Mr. Dell is quite properly an iconic figure at the company," Stanford law professor Joseph A Grundfest told the Times.
"It is extremely rare to have that amount of shareholder disaffection directed toward an executive who is so central to the company's past, present and future," he continued.
Confidence in Mr Dell, who keeps popping back up on the board, has shattered after a series of blunders at the company.
We're not talking sex and expense account scandals, but straight forward financial irregularities and alleged accounting fraud.
Last month Mr Dell paid out a $4 million fine as part of an accounting fraud settlement where his company parted with a cool $100 million. Apparently Dell was accused of misleading shareholders over financial dealings with Intel in which it didn't disclose large incentive payments from Chipzilla.
The Inquirer reported two weeks ago that this led to Dell investors receiving an email from the AFL-CIO labour federation urging them to vote against Michael Dell as a director. µ
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Dell shareholders (and shareholders in general) have always been revolting, so I have always been right.
...is about to collapse.
Dirtbag politicians make a living out of making dire predictions and waiting for some of them to come true so they can say 'I told you so'.
You might have always said it, but it was never true until now, so you were usually wrong. :)
Dell shareholders are Revolting.