After taking back control of 'Dell Computer', founder Michael Dell is proving once again that he has the right stuff when it comes to running a large corporation. After leaving the role of CEO, Dell watched other leaders almost drive this American Success Story company into the ground with poor business choices and there were even reports of previous company leaders trying to manipulate earnings so Dell stock would not suffer. There have always been two kinds of CEO's. The first kind does the hard work necessary to build a successful company and keep working hard to continue it's growth and other CEO's that only know 'slide of hand' tricks that work for awhile on Wall Street - but eventually come apart when their tricks are discovered by analysis. I believe Michael Dell is the 'real deal' when it comes to the company that bears his name and I have no doubt that he will be able to turn Dell Computer around in short order. Today, Dell announced that the company will spend ten (10) billion dollars to buy back it's own stock. Wall Street always likes to see companies spending their profits to buy back their own stock. To many, when a company buys back it's own stock they are saying to the world that our company is the best place we can put our own profits which is a good and positive sign for future growth.
I live in Texas and as most of you know Texans are known for their 'tall tales' and living legends. Michael Dell is a living legend in Texas and if you ever have a chance to visit Round Rock, Texas you will see what a huge impact this one man had on that cities economy. About twelve years ago, I had never heard of Dell Computer. Back then a man I worked with came into the office one day with a huge smile on his face. Curious, I finally asked him why he was so happy that day and he replied with only two words, 'Dell Computer'. I remember asking him what the heck was Dell Computer? When he explained, to me, that since his initial investment less that a year before their stock had double in price, I started not only listening to him talk about Dell Computer, but I also started learning as much as I could about this, until that date, unknown company to me. Over the next five years I watched as Dell Computer became a household name and I marveled at how many businesses and government offices had computer monitors that had the 'Dell Computer' name on them. At some point in time, Michael Dell step down as CEO of Dell Computer and other managers were brought in to run the show. However, it soon became clear that no one else could run the company as well as Michael himself - so now he is back where he belongs - sitting in the big chair as CEO of this computer giant.
As I type this posting on a Dell Computer, so much has changed since I first heard that name back in 1995. More so today, than ever before it is difficult to visit a government office, a private or public company or a friends home without seeing the name Dell on a computer monitor. If people try and tell you that all the good idea have been thought of and the future is bleak in the world today, don't listen to them. Instead look at the example of what Michael Dell has been able to accomplish in his short life. The only thing that is needed for success in America today is a good idea and the tenacity to work that idea until it becomes successful. Very few people ever see the years of hard work that go into a new idea before it catches on and becomes popular. Usually there are years of hard work, with no profit, which lead up to something being labeled the latest 'overnight success' by the media. All major companies started with an idea and an owner that refuses to give up on that idea even if no one else supports them. In a strange sort of way, the way to success in any business is to take a good idea and focus on little else until that idea turns into your work of art. I believe Michael Dell did such a thing many years ago and like successful businessmen before him, he refuse to give up when the going got tough and stubbornly push forward even when few others saw the value of his idea.
Read more about the Economy:
Wall Street Could Once Again Face - 'Black Monday'
Are American's Recession Fears Justified?
Stan O'Neal's 'Golden Parachute' Worth $160 Million
Merrill Lynch CEO Stan O'Neal Out?
Fed Cuts Rates To Steady Housing Market