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RIM Co-Founder Drops His Stock
drdread66 writes "Reuters reports today that Research In Motion co-founder Jim Balsillie dumped his entire stake in BlackBerry at the end of 2012. While it's common to see high-level executives sell some of their shares to gain some liquidity, it's unusual to see them exit their positions completely. This has to be seen as a massive vote of 'no confidence' from someone who was on the inside long enough to know what's going on in the company."
Or it's probably because he needs cash to buy an NHL team to move to Hamilton.
Or you know that someone with deep pockets paid him to do so, lowering the prices and rendering the company vulnerable to a Hostile Takeover.
Do you know Siemens VDO, I mean, Continental A/G, I mean, Schaeffler Group? :-)
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If his judgement is so good about the mobile phone industry, how did he take the undisputed industry leader and run it off the road?
Perhaps he thinks the new models are missing the navigation wheel and the color screen is distracting.
Wasn't he ousted earlier? Might this be a case of sour grapes and a way to get back and give RIM, I mean Blackberry, a bit of a black eye?
. 62,400 repetitions make one truth -- Brave New World, Aldous Huxley
I see a founder who has had a huge strop that basically while he was at the help the company was loosing out to the rising smartphone market around it. He got sidelined and selling his stock was a final "throwing my toys out of a the pram' act. Ive seen it before, albeit in smaller startup environments. I see that Blackberry now at least has a viable modern product... and is attempting to find a direction. during then end of his tenure it was lost... Nothing more than an angry failed executive here...
A decade of being in the right place at the right time only keeps your bad decisions in check for so long. Eventually somebody comes along and makes good decisions.
Although I don't have much hope for RIM, I think any decisions this guy makes are as irrelevant as his decisions in his last years at the company.
Perhaps this is a good thing. The whole co-CEO business may look good, but there's a reason there aren't more co-leadership (or triumvirate) roles in leading companies (even GOOG ditched the triumvirate idea and shifted to a front-man+visionary model). This isn't a buddy cop movie where everything is scripted. CEOs of organizations in heavily competing markets actually do things.
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As a resident of Waterloo Ontario, I think Jim burned a lot of cash in philanthropy at the University of Waterloo. He might actually need the cash.
He's no longer with the company. He was part of the train wreck co-CEO management that refused to change. I see this nothing but good that he has nothing to do with the company now.
Of course the media wants to tear down a non Apple company. They are well on their way.
"A plan fiendishly clever in its intricacies"- Homer Simpson
Patent rights.
When one of the founders bails you know the ship is sinking.
That's what he hopes people will think.
a) Everybody dumps their shares, share price plummets
b) He buys back his shares, dirt cheap.
c) RIM makes Apple-killing product announcement
d) Profit!!
No sig today...
Or you know that someone with deep pockets paid him to do so, lowering the prices and rendering the company vulnerable to a Hostile Takeover.
Do you know Siemens VDO, I mean, Continental A/G, I mean, Schaeffler Group? :-)
So if this is intended to sink the stock it looks like it failed.
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Except that (in spite of what the summary implies) he is no longer with the company.
Balsillie left the company in 2011. He has no up-to-date insider knowledge or connections with the current management team and it makes some sense for him to have sold his stock (approximately $300 million) to diversify his portfolio. I wish we could bury this sensational but meaningless story from the front page.
Hey, give the guy a break - those high-class hookers are expensive!
An enigma, wrapped in a riddle, shrouded in bacon and cheese
Suicide
And accidentally hit the 'Dump' button when he meant to hit the 'Buy' button.
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He's not breaking up with RIM. He just thought that he and RIM should take a break and maybe not move so fast, you know. He still loves RIM and all, he's just not *IN* love with RIM. And that other company is just a friend.
What political party do you join when you don't like Bible-thumpers *or* hippies?
Someone who wants RIM's loyal customers
I think step 3 is supposed to be "..." because making an Apple Killing product isn't terribly straight forward.
Because the "experimental GPS tracking ribbons" still work when you take the battery out, man! You need to keep your phone in tinfoil if you want to keep your privacy
Oh, that's the way to gain confidence. "We just released version 10 and it's going to turn this company around...but, I'm jumping the hell off this ship! Good luck, everyone!"
Don't dismiss the fact that he's a Canadian who want's to own a NHL franchise. Maybe he just needs the cash to pay off some bad feelings the current owners and NHL have toward him.
From what I've heard about BB10, they might already have an "Apple-killer." This could just be due to very promising sales. Only time will tell.
If sure if someone sent all 3 of them a $25 gift card to Applebees they'd abdicate willingly.
If sure if someone sent all 3 of them a $25 gift card to Applebees they'd abdicate willingly.
I know that slashdotters find this hard to believe, but Blackberry have a strong customer base, albeit they're not the top dog any more. Just because they're unfashionable compared with Apple/Android from a techy point of view, in places like the UK Blackberries are the phone of choice for teenagers because they are the best for texting.
To have a right to do a thing is not at all the same as to be right in doing it