Dell Wraps up Internal Financial Investigation

Dell Inc. executives have finally wrapped up a yearlong internal investigation into accounting problems at the computer company, and the mistakes could end up costing them as much as $150 million. According to Vice Chairman and CFO, Don Carty, this is not a happy story for Dell nor one that we're terribly proud of. This was announced after Dell announced it would reduce more than four years' worth of earnings because it misled auditors and manipulated results to meet performance goals. The beleaguered company said its net income for the restatement period - all of fiscal 2003 through 2006 and the first quarter of fiscal 2007 - will be reduced by between $50 million and $150 million, or 2 cents to 7 cents per share.