Dell finds evidence of misconduct in accounting
San Francisco: Dell Inc., the world's second-largest personal computer maker, said an internal audit had found evidence of misconduct, accounting errors and deficiencies in its financial controls. Dell is already facing federal and regulatory probes of its accounts after showing disappointing results in several quarters. The company said its audit committee was working with management and independent auditors to determine whether to restate past results.

The accounting review meant Dell would not file its annual report with securities regulators by the April 3, or by an extension date of April 18, the company added.

Dell did not give details of the misconduct or of its other findings.

Dell said it will also review to see whether the control deficiencies "constitute a material weakness" in its internal control over financial reporting.
Back to News Review index page  

AT&T Inc, Qwest, Verizon get largest-ever federal telecommunications contract
Washington: The U.S. General Services Administration (GSA) has rejected Sprint Nextel Corp and awarded AT&T Inc, Qwest Communications International Inc. and Verizon Communications the largest-ever federal telecommunications contract.

Government agencies are expected to spend at least $20 billion on the contract over 10 years, according to GSA estimates to overhaul the government's telecommunications services.

Under terms of the GSA contract, called Networx Universal, agency spending could be increased to as much as $48 billion.

The four companies have spent millions of dollars preparing bids and called on thousands of employees to develop proposals and hammer out the details.

Sprint Nextel has been providing telecommunication services to U.S. government agencies for 18 years. The company is requesting a meeting with GSA next week and says it will decide whether to "protest or not" after the meeting.
Back to News Review index page