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To: yard_man who wrote (163316)	5/1/2002 7:39:20 PM
From: benwood	Read Replies (1) \| Respond to of 436258

re: Dell building shareholder value with stock buybacks From Market Guide: primary/basic average shares 1998: 2.631 billion 1999: 2.531 2000: 2.536 2001: 2.582 2002: 2.602 Don't have figures for 1997, but Dell says 940 million shares bought back over the past six years. Verrrrry interesting. Seems to be mighty slow progress on the final share count considering that nearly 1 billion shares have been repurchased... The buybacks wouldn't be to mask the nature of the data on this page, would it? <g> biz.yahoo.com

To: yard_man who wrote (163316)	5/1/2002 7:54:52 PM
From: reaper	Read Replies (3) \| Respond to of 436258

yeah, building shareholder value 6 years ago when the program started (October 29, 1995 quarter) Dell had 3.231 billion fully diluted shares outstanding (adjusted for all splits). As of November 02 2001 Dell had 2.728 billion fully diluted shares outstanding. So Dell has bought back 940mm shares but at the same time the share count has only been reduced by 503mm. What happened to the other 437mm shares? Can you imagine, Dell has spent fully $10 BILLION of its shareholders money to buy back stock in the last ten years, yet those shareholder's proportionate interest in the business has barely budged. Can you say "wealth transfer"? btw, anybody know what Mikey Dell and other members of management were doing with THEIR shares while the company was busy spending $10 billion BUYING <ng> Cheers