It may appear good that Dell (DELL) has finally cut a deal with WPP, the UK-based ad company to set up a JV which will handle as much as $4.5 billion in marketing over the next three years.
But, the agency search started just after Michael Dell returned to the company and will not be in place for another three months or so.
The length of the decsion-making progress is a sign that the Dell management may not be operating the company at a pace of urgency that would probably be best to get the company turned around.
Last month, Dell announced that future earnings could be hurt by slow sales and more restructuring costs. Wall St. would think that quckly resolving major issues to move the company along as fast as possible would be best. That does not seem to be the case with a year lost in marketing.
Douglas A. McIntyre
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