Wall Street Doesn't Have Dell to Kick Around Anymore

NEW YORK ( TheStreet) -- On Thursday, by virtue of a 65-35 shareholder vote, Michael Dell and Silver Lake Partners won a green light to take Dell ( DELL) private for $25 billion dollars -- effectively ending the long-term suffering of the company's faithful investors.

Now, I'm not going to go into details as to whether this was a fair deal. On more than one occasion, I've gone on record about Dell's perceived value. But now that this nine-month penny-pinching charade is over, I do wonder if/when the Street will ever again hear from Dell.

One of the advantages of privatization is that now Dell is free to operate without fear of public scrutiny. Aside from freeing the company from things like disclosure requirements, which are enforced by the Securities and Exchange Commission, I don't see what Dell actually gains by essentially delisting itself.

The company's challenges, which are plenty, will remain. And unlike, say, Lenovo ( LNVGY), which has transitioned well into the mobile market amid the global PC decline, I don't believe that Michael Dell is capable of turning things around.

What's more, although Dell still has a decent hold on high-margin enterprise segments like networking and storage, those businesses are slowly losing ground to better-managed and more nimble rivals like Cisco ( CSCO) and NetApp ( NTAP).

So although the company will soon be out of the limelight, survival is anything but guaranteed, especially given that tablets are expected to surpass personal computer sales next year.

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