Dell
JH: Suppose we were about to vote in an election that could drastically change American government from a democratic republic to a privately-owned entity run by billionaires (actually, such a plutocratic concept is not as far-fetched today as it would've sounded 25 years ago, but still, if it was put to a vote, the American people would soundly reject it).
But now, let's suppose that the plutocrats, realizing that their privatization scheme was going to lose, suddenly and arbitrarily postponed election day so they could have more time to run deceitful campaign ads and woo special voting blocks with promises of money. And, suppose they postponed the vote two more times, while also rigging the election rules to jack-up their vote count. One more thing: Suppose they installed their own judges to rule that all this manipulation is permissible.
Preposterous, you say? Can't happen in America?
Well, it's happening right now. Not in a political election, but in an ongoing vote involving corporate governance, and it demonstrates the utter contempt that moneyed elites have for any rules – even their own – that get in their way of maintaining control.
The chief autocrat in this real-life melodrama is Michael Dell, the multibillionaire founder of the now-foundering Dell computer corporation. He recently got his hand-picked board of directors to let him and a few other financial elites turn the publically-traded giant into their private entity. In essence, they intended to seize Dell Inc. from its owners – ie, shareholders – by using a razzle-dazzle line of hokem to cover up the fact that they were buying them out on the cheap and even using the shareholder's own money to engineer the plutocratic coup.
However, there's one group the Dell Gang hadn't planned for: Angry shareholders! From a billionaire owner of Dell stock to plain folks who're getting ripped off, a rebellion erupted against the stacking of this corporate election. I'll tell you more in our next common sense commentary.
"Dell committee backs new offer, rules change," Austin American Statesman, August 3, 2013.
"Judge delays hearing on Icahan's Dell Suit," Austin American Statesman, August 13, 2013.
"Michael Dell Salvages Bid for His Company," www.nytimes.com, August 2, 2013.
"Michael Dell accuses Icahn of using court as takeover tool,"www.theregister.co.uk, August 8, 2013.
"Icahan says Dell vote sholdn't be postponed again,"www.marketwatch.com, July 23, 2013.
"Icahan Adds to Claims Against Dell Over Buyout Vote Timing,"www.nasdaq.com, August 13, 2013.
"Quotation by F. Scott Fitzgerald," www.dictionary.com, 2013.
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http://www.mnn.com/money/sustainable-business-practices/stories/dell-and-the-environment
Political contributions
In 2004, Susan and Michael Dell were among 53 contributors of $250,000 (the maximum legal donation) to the second inauguration of President George W. Bush.[33]
Criticism
In the April 2011 issue of Mother Jones, a timeline of Michael Dell's life is included in the article American Magnate: Michael Dell: How a homegrown geek outsourced, downsized, and tax-breaked his way to the top. The article juxtaposes the CEO's spending on luxurious homes and private jet travel with his pursuit of tax breaks and tax holidays and Dell Computer's eventual offshoring of jobs overseas after receiving the incentives for setting up shop locally.[34]