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Lebanon, Tenn., threatens to sue Dell Inc. for eliminating 700 of the 1,000 jobs it had offered as part of a tax deal. Dell Inc. then shutters its last large US factory, in North Carolina, and sends its 900 jobs abroad.
Michael Dell's MSD Capital and other investors buy the remains of the failed IndyMac Bank from the FDIC, putting up $1.3 billion for a $158 billion mortgage-servicing portfolio. The FDIC, which expects to lose up to $9.4 billion on the deal, promises to reimburse the investors for their potential losses. By year's end, the new bank has made $700 million in profits and a New York judge excoriates its "harsh, repugnant, shocking, and repulsive" practices.
Since 2008, Dell Inc. has cut 7,300 jobs in the US while creating 4,300 jobs overseas.
Dell Inc. announces a "flagship" factory and customer center in China that will employ 3,000. It plans to spend $100 billion in China over the next decade. Foxconn, the Taiwanese company that makes many Dell PCs, erects suicide nets around its dorms' roofs after 12 workers jump to their deaths.
White House seeks to end a tax loophole that has let Dell Inc. save $546 million in three years by transferring patents and other properties to foreign subsidiaries. According to Bloomberg Businessweek, Dell lobbyists targeted the plan; the company denies it.
“We like to say that dependability is more important than ability,” Bill Belichickism....