Michael Dell boosts his own stock

Dell Computer chief executive Michael Dell bought more than 4 million shares of the company for about US$72 million after the September 11 terrorist attacks in an effort to prop up the stock.

According to a filing with the Securities and Exchange Commission late Tuesday, Dell bought a combined 4.3 million shares in four separate purchases. On September 20, Dell bought 1.15 million shares and followed up by buying 2.75 million shares on September 21 in two transactions. On September 27, Dell bought 400,000 shares. The average price for the purchases was US$16.72, a touch above Dell's 52-week low.

The stock markets reopened September 17 after being closed because of the Sept. 11 terrorist attacks on the World Trade Centre and the Pentagon. In an attempt to help the markets, the SEC issued an emergency order easing rules on corporate and insider purchases.

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Talkback 1 comments

    Michael Dell needs to BOOST hi ...Anonymous -- 08/11/01

    Michael Dell needs to BOOST his LOUSY customer service and forget about his LOUSY STOCK when they (DELL) do not back what they claim.
    1) Customer service (tech support) is HORRIBLE!
    2) No assistance -- no managers to file a complaint with
    3) Tech support provides NO SUPPORT
    4) Majority of ALL TECH support questions go to INDIA .. or other FOREIGN countries where they claim to NEVER SPEAK English!

    Michael Dell -- READ THIS COMPLAINT .... and READ YOUR EMAIL ... hell .... it's published for the world!

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