Dell $24.4B Leveraged Buyout: In Search of a Private Road
When I hear the expression used, “We are trying to change the tires while the car is still moving,” I cringe. Even the most efficient tire changers in the world, the NASCAR pit crews, still require the vehicle to come to a full stop. Wall Street doesn’t allow full stops. Dell, while having done quite well turning its business model towards wider IT systems and services, based mainly on a slew of enterprise IT oriented acquisitions, initially punctuated by the purchase of Perot Systems over three years ago and underscored by the addition of ex-IBM and ex-CA Technologies turnaround specialist John Swainson in 2012 to run software, isn’t quite a NASCAR pit crew.
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