"In other words (Dell) management actions show that when it is our money, it needs to be held conservatively and reserved for strategic flexibility," Einhorn said. "But when it is their money, they don't need so much rainy day cash and they would like to see the balance sheet working harder to generate the maximum return on equity."
Clear enough? DELL & PE Guys need to ante up; else get rejected through Proxy Vote. Same goes for the BOD members, they may get tossed within the same proxy.