Dell Layoff Provisions Concerned Lawmakers
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By Paul B. Johnson, High Point Enterprise, N.C.  Jun. 6--TRIAD -- Rep.Paul Luebke,D-Durham, was among the voices of caution at the state capital two and a half years ago as Gov. Mike Easley and sympathetic legislators rushed through a historic incentives package for Dell Inc.
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Massachusetts bank executives would have to provide detailed estimates of layoffs resulting from proposed mergers and face perjury charges if they lie to state regulators about the deals, under legislation filed by the cochairman of the state's banking committee this week.
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Capitol Briefing | Leaders say they would like to have a bill done before last day of congressional session on Feb. 15.
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Eight lost their jobs, leading Democratic lawmakers to try to rein in presidential powers.
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(InfoWorld) - Dell will lay off 10 percent of its 78,800 workers, in a continuing effort to improve profits as the company also completes an investigation of accounting fraud, it said Thursday. Dell will make the layoffs over the next 12 months, including workers throughout its geographic regions, customer segments, and job functions, the company said in a statement. The move is part of a corporate cost review spanningÂ product developmentÂ and procurement,Â service, and support delivery. While layoffs are difficult, "we know these actions are critical to our ability to deliver unprecedented value to our customers now and in the future," company CEO Michael Dell said in a written statement. The company also announced it made $759 million in profit for the first quarter of its 2008 fiscal year, down slightly from the $762 million it earned for the same quarter last year. Dell reported revenue of $14.6 billion and earnings of 34 centsÂ per share, both well above Wall Street expectations of $13.95 billion in revenue and 26 cents earnings per share, according to analysts polled by Thomson Financial. Despite itsÂ success in beating the financial forecast, Dell also said it had spent $46 million in the last quarter on expenses for the investigation into accounting and financial reporting. Dell began an internal study of its books because of questions raised in 2006 by the U.S. Securities and Exchange Commission (SEC). Dell blamed that situation for its decision to file only preliminary results Thursday, marking the fourth consecutive statement that the company has not filed an audited, official earnings account. Those missing statements have also forced Dell to fight to keep its stock listed on the Nasdaq exchange, which requires all public companies to file audited Form 10-K papers in order to be publicly traded. Dell has already won several extensions of a deadline to supply those numbers, and on May 4 it asked for even more time to meet the conditions.
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Group demonstrates possible solutions, but lawmakers also need to act.
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A Massachusetts state legislator is pushing a bill that would hold retailers financially liable to card-issuing banks for the costs of a security breach -- a proposal that quickly came under fire from retail groups.
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Dell cautioned that its results were preliminary and subject to restatement because of questions raised by the Securities and Exchange Commission.
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Dell Inc.  said on Thursday it  received a delisting notice because it was late in filing a  quarterly financial report and plans to request a hearing  before a Nasdaq panel.
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Lawmakers on Thursday pieced together legislation extending popular tax breaks and saving doctors from a cut in Medicare payments as Republicans prepared to cede control of Congress to the Democrats.
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Has recalled the power adapters due to a risk of overheating, which could lead to a fire or electrical shock. WASHINGTON: Dell Inc.
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2.0 - 8,000 = more money Dell will decimate its workforce over the next year, eliminating more than 8,000 jobs. The company released word of this restructuring as it dished out first quarter financial results that beat market expectations.â¦
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A probable move to curb funding for a 'surge' may put Democrats at odds with one another.
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The civil service system got a little oversight from Congress yesterday, signaling that federal-employee issues may receive more attention as Democrats wrangle with the White House over budget and policy priorities.
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Rep. Edward Markey (D-Mass.) had hoped to introduce a new bill this month, but staffers say hectic events forced him to push back those plans until early next year.
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Computer maker Dell Inc. DELL.O said   on Monday that an expanding government accounting probe has   caused the company to cancel a meeting with Wall Street   analysts for the second time this year and that it will suspend   stock buybacks.
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Michael Dell's return as chief executive officer of Dell Inc. may have appeased analyst demands for now, but they say he faces an enormous, long-term challenge in fixing nagging problems that have plagued the computer maker.