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Dell: Article

Does That Dark Cloud Hanging Over Moto Extend to Dell?

Remember Ron Garriques, the guy that Michael Dell hired a month ago to run his new consumer unit?

Remember Ron Garriques, the guy that Michael Dell hired a month ago to run his new consumer unit, the guy who used to run Motorola's mobile devices business?

Well, Wednesday Motorola up and reorganized, warning of unexpected Q1 losses and complaining about the unprofitable, "unacceptable" performance of its - you guessed it - mobile device unit. Doesn't exude a lot of confidence does it?

Moto CEO Ed Zander, the president and COO of Sun during its fin d'siecle meltdown, has made the head of the company's networks and enterprise business Greg Brown president and COO and tapped ex-Dell CFO and Motorola board member Thomas Meredith to be Moto's acting CFO, replacing incumbent David Devonshire, who'll suddenly retire April 1.

Motorola is now expecting its Q1 numbers to come up a billion dollars short of its $10.4 billion-$10.6 billion projection and turn into a seven-nine cent-a-share loss. Wall Street figured a 17-cent profit.

Motorola also said it would buy back more of its stock, increasing its stock buy-back authorization to $7.5 billion. It's also going to have to cut 3,500 jobs and otherwise cut costs.

Scuttlebutt had it that Motorola was to buy Palm on Thursday for $2 billion, a deal that now has apparently fallen through.

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ISSJ News 03/28/07 03:41:58 PM EDT

Remember Ron Garriques, the guy that Michael Dell hired a month ago to run his new consumer unit, the guy who used to run Motorola's mobile devices business? Well, Wednesday Motorola up and reorganized, warning of unexpected Q1 losses and complaining about the unprofitable, 'unacceptable' performance of its - you guessed it - mobile device unit. Doesn't exude a lot of confidence does it?