Why didn't Michael Dell replace Kevin Rollins six months or a year ago as the chief executive of the company that bears his name?
Dell Inc. (Nasdaq:DELL) has been in trouble for a long time. Did you ever think that Hewlett-Packard Co. (Nasdaq:HPQ) would ever gain the lead in the PC market? H-P made better machines. I replaced my Dell desktop with an H-P. It wasn't a tough decision.
Shares rose on news of the ouster of Rollins, who got the CEO job in 2004. Bloomberg News points out that in September, Dell called Rollins an "outstanding executive."
Somewhere along the line Dell lost its way. Maybe Michael Dell can restore it to its former glory but it won't be easy. Its accounting is under investigation by both the U.S. Securities & Exchange Commission and the Justice Department. Wall Street is still seething that the computer maker has missed profit forecasts including the one for the fourth quarter.
Closing Bell: Stock bulls and dollar death (DDRX,GMCR, PEET, SBUX, EBAY, CI, TECD)
So long peak oil, here comes peak uranium
Black Friday expected to be strong, no promises for Christmas
