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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ed Beers who wrote (71070)	11/28/1999 2:46:00 PM
From: Chuzzlewit	Respond to of 132070

Ed, as I recall (and I'm working on memory here), the purpose of the debt was to facilitate securitizing foreign receivables while mitigating interest rate and currency exposure. One thing ought to be clear. The cash was not required for the purposes of liquidity or capital spending. The company is (and was) awash in cash. One of my criticisms of Dell is that there is entirely too much cash on the balance sheet. I would prefer to see it either invested in new businesses or returned to shareholders. Earning 6% or 7% pa is not my idea of aggressive cash management. Since I don't know the details of the debt arrangements, I have no opinion as to whether this was a good or a bad decision. TTFN, CTC