Of course Dell's got skin in the game
The author dismisses Dell's 14% stake in the current company, but that's valued at something like $3.5 billion (or more, according to SAM). Dell *does* have the option to sell it instead of contributing it to the LBO. If Mr. Morgan feels $3.5 billion + $750 million in other funds, maybe 20% of the deal in total, isn't skin in the game, then I'm very glad he's not entrusted with something like specifying buyers' minimum down payments on housing purchases. 50% anyone? 75%?