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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: D. Swiss who wrote (155719)	3/29/2000 6:05:00 PM
From: calgal	Read Replies (1) \| Respond to of 176387

Hi Drew! Did this announcement surprise you? Dell has been investing in Start-ups! Who said this company was just a box-maker? :) Leigh quote.bloomberg.com Dell Computer's Schneider to Replace Meredith as CFO (Update1) By Molly Williams (Adds analyst comment, details.) Round Rock, Texas, March 29 (Bloomberg) -- Dell Computer Corp. Chief Financial Officer Tom Meredith took a new position running the Dell Ventures Group, which will expand to make equity investments and help incubate early-stage companies. Meredith, 49, who has been with Dell since 1992 and is well- liked by financial analysts, will be replaced by James Schneider, 47, who was senior vice president of finance. Meredith will become a managing director at Dell Ventures, along with Alex Smith. Meredith helped shepherd the company during a time of massive growth. The Round Rock, Texas-based PC maker saw sales soar from $889 million in 1992 to $25.3 billion last year and ousted Compaq Computer Corp. as the No. 1 PC seller in the U.S. last year. ``He's done a terrific job,' said analyst Stephen Dube of Wasserstein Perella Securities, who rates Dell stock a ``hold.' The stock was the top-performing issue on the Standard & Poor 500 index from 1996 to 1998. The stock is up 5.5 percent so far this year. Dell fell 2 1/16 to 53 13/16 today. Meredith's departure comes as Dell has had two straight quarters of disappointing sales and earnings because of delays in companies buying new PCs and shortages of chips from Intel Corp. Dell Ventures Dell Ventures, formed a year ago, will expand investment activities to include services like strategy development, financing assistance and access to market research. Dell Ventures has invested more than $700 million in more than 90 companies including Red Hat Inc., Sina.com and StorageNetworks Inc. The ventures group had previously invested in later-stage companies that had other investors or a revenue-generating business. Now, the group may invest in people with an idea, or just a business plan. Dell Ventures is owned by Dell Computer. Michael Dell, who founded Dell Computer in his college dorm room, has a separate venture group called MSD Capital that he created with his own money to make investments in companies. Original article: quote.bloomberg.com Dell CFO Meredith to Run Dell Ventures; Schneider Is New CFO