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Three days after its announcement of a vast safety recall, Dell reported little but bad news yesterday: profits down by half, and an informal Securities and Exchange Commission investigation into its accounting.

Reading Damon Darlin’s NYT piece on Dell the old saying bad news travels in threes came to mind. The Q&A session at the end of the Q2 2007 conference call was rather insightful. A full transcript is available over on SeekingAlpha. While CEO Kevin Rolands reiterated that “The Dell model is a vibrant model’’ … “We are really going to stick with the Dell model” … it is fair to say that one year on patience and support within the investment community is waning. Surprised that Kevin continues to remain in defensive mode when a number of offensive options are available to Dell. Interesting times indeed.

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