Dell’s Ups and Downs With Options - High and Low Finance - NYTimes.com

Final paragraph of a stark Dell reality check; also see Michael Dell’s Empire in a Buyout Spotlight (NYT)

"It is far from clear that a leveraged buyout of Dell will happen, and its bonds are trading as if bondholders don’t think it will. A deal would be easier if Dell had kept a few billion dollars and used it to pay down debt, rather than spend it on stock that turned out to be overvalued. And it might have been unnecessary had the company paid more attention to its business, and less to financial engineering."

Dell’s Ups and Downs With Options - High and Low Finance - NYTimes.com