Comments on: Dell execs skewed numbers to meet earnings targets

The No. 2 PC maker concludes its own investigation and finds that senior executives had knowledge of or requested that accounts be adjusted to meet quarterly performance targets.

[wayne95125]

The "Team" committed a crime

It will be interesting to see if Dell can get away with blaming the
"Team" for skewing the numbers. "Skewing" the numbers equals
fraud, If the "Team" is guilty of fraud they should all be held
accountable. A decision by committee to commit a crime does not
protect the "Team" from prosecution. If it did the Nazis would not
have been found guilty at Nuremberg.

[daftkey]

"Team" attitude at WorldCom, Enron, Global Crossing...

Well, Nazi references aside, the idea that the "Team" was responsible (as opposed to, say, the CEO, CFO, Controller, various board members) is one that dates back to other, similar accounting frauds.

Yes, the individuals, whether numerous or only a few, are individually responsible for participating in the "team" sport of "hitting up the numbers" as Bernie Ebbers used to put it.

This might not be as sensational as the meltdowns of 2001-2003 were (albeit, we have so far only seen what the company has released from its "internal" findings - the SEC is likely to find another story) but even so, this is securities fraud. This is something that is going to be handled even more harshly now than ever before.

[bill_austin]

The Team is still in charge

The sad news is that the same team is still in charge and supposedly leading the turnaround efforts. Despite a few outsiders brought in recently, the director and senior management layers have not changed nor has their culture of hedging on the numbers.

Dell's recent announcment of a 10% downsizing is one example. Guess who is making the decisions on who stays and who goes? It isn't the outsiders who came in to turnaround the company...they are being put back on the street.

[lingsun]

Somebody should go to prison for this.

Somebody should go to prison for this. They committed fraud against the shareholders.

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[michaelo1966]

They feel so bad that...

They gave Kevin Rollins -- who was CEO during the scam years -- $48.5 million. Oh well: if there was any doubt left I guess this proves that Michael Dell is a good Republican with Republican values.

BTW -- I'm typing this note on my new Lenovo machine: the first non-Dell I've had in years. I've gotta' say, it runs great and the company is a pleasure to do business with.

[kool_skatkat]

Lenovo rocks

Who would have thought that a Chinese company would produce better products than an American company. The world must be changing.

[georgiarat]

Lawyers and MBA's

The real problem is that most corporations are run by Lawyers
and MBA's and neither care a flip about customers. Lawyers
only care about how to protect the backside while sticking it to
the customer and are trained to have no feeling for either side
just how to line their pockets. MBA's only care about squeezing
out the last penny from customers and suppliers with no
thought to how that affects employees and customers. Until this
is changed it will be the same ole same ole.

The Universities that train these people have made sure that
morals are eliminated from the academy and have a direct
bearing on what is happening across our country.

[daftkey]

This isn't about customers..

..This is about shareholders - almost the antithesis of customers. But you are correct, the people running these companies are given bonuses based on stock value and ROI and other, fudgeable, numbers.

As for the "morals" comment - you obviously haven't been to a business school in the current decade, have you? Ethics are peppered into almost EVERY lesson that they give - it is up to the students whether or not they want to absorb the message. In fact, up here in Alberta (where we have one of the most highly rated business schools in North America) one of the largest debates happening right now is whether or not to make a dedicated "information ethics" class a requirement (it is currently an option, but is highly recommended for Accounting, Finance, and MIS majors)