Michael Dell's business skills emerged when he was twelve years old. He earned $2,000 operating a nation wide stamp auction. In high school, he continued to exhibit entrepreneurial behavior. By creatively using the help of classmates, he made $18,000selling the Houston Post to newly married couple. One in college, his activities changed to adding components to the unsold stock of local PC dealers and selling them to local businesses. By the spring of his first year, he was turning over $50,000 a month. In May 1984,Michael Dell formed the Dell computer corporation and dropped out of the University of Texas at Austin. He told his father that he would rather compete with IBM. Sales reached $180,000 the month. In 1985, the company introduced the first personal computer of its own design. The Turbo featured the Intel 8088 processor. Dell Computer Corporation continued to grow its product service. The company became the first PC seller to offer next-day, on-site product service. International expansion began in 1987 with the opening of a subsidiary in the United Kingdom. In 1988, the company held an initial public offering of company stock. As growth continued, there was a need for more manufacturing capabilities worldwide. The company responded by opening a manufacturing center in Limerick, Ireland, to serve the organization's European, Middle Eastern, and African markets. Dell continued to practice product development and introduced its first notebook PC in 1991.In 1992, the company was included for the first time among the Fortune 500 roster of the world's largest companies. Of course, there were some bumps along the way. This colossal expansion created problems for the young company, the early 1990s were plagued by weak information technology systems, a management team that lacked experience, and negative cash flows. In 1992,Dell grew 126 percent. This was a dream come true, but the establishment could no longer support itself.