FYI - RIMM December 15 - Earnings
- Thread starter ForexForex
- Start date
Dec. 15, 2011, 5:49 p.m. EST
RIM chiefs still digging in their heels
Commentary: Salary cut not likely to appease investors
By MarketWatch
SAN FRANCISCO (MarketWatch) Ã The embattled co-chief executives of Research In Motion Ltd. are unlikely to appease angry investors by taking a salary of $1 a year, given that the companyÃs core business is continuing to erode.
In a conference call with investors, the co-CEOs, Jim Balsillie and Mike Lazardis offered up the pay cut as their quasi-mea culpa for the companyÃs continued downward spiral. They also reminded investors they are RIMÃs(NASDAQ:RIMM) (TOR:CA:RIM) two largest shareholders, meaning theyÃve lost about three-quarters of their own net worth this year as the companyÃs stock has collapsed. Read more about RIM news.
But their promises to engage in a major review of the company and Ãleave no stone unturnedà as they try to turn the company around, sound too little, too late. A major review of RIM was something investors had assumed was already underway. It now comes on the heels of yet another forecast of lower than expected unit shipments in the quarter that normally would include big holiday sales à as well as a pushback of the expected launch of new phones on the BlackBerry 10 operatin system to the latter part of next year. Read full story on RIM's results.
The one positive note on the call was that the executives said that as part of that review, they are going to include looking at Ãopportunities to leverage the BlackBerry infrastructure,Ã which many analysts have been calling for, an option where RIM could license out its secure network technology to other smartphone ecosystems like iPhone and Android.
But itÃs clear that unless this company starts to move more quickly and change its approach of focusing on new hardware and its new software à both of which are coming out later and later à itÃs in a downward spiral.
As Berenberg Bank analyst Adnaan Ahmad noted in a letter on Wednesday to Balsillie and Lazardis: ÃYou both need to swallow the bitter pill and come out of denial.Ã
RIM chiefs still digging in their heels
Commentary: Salary cut not likely to appease investors
By MarketWatch
SAN FRANCISCO (MarketWatch) Ã The embattled co-chief executives of Research In Motion Ltd. are unlikely to appease angry investors by taking a salary of $1 a year, given that the companyÃs core business is continuing to erode.
In a conference call with investors, the co-CEOs, Jim Balsillie and Mike Lazardis offered up the pay cut as their quasi-mea culpa for the companyÃs continued downward spiral. They also reminded investors they are RIMÃs(NASDAQ:RIMM) (TOR:CA:RIM) two largest shareholders, meaning theyÃve lost about three-quarters of their own net worth this year as the companyÃs stock has collapsed. Read more about RIM news.
But their promises to engage in a major review of the company and Ãleave no stone unturnedà as they try to turn the company around, sound too little, too late. A major review of RIM was something investors had assumed was already underway. It now comes on the heels of yet another forecast of lower than expected unit shipments in the quarter that normally would include big holiday sales à as well as a pushback of the expected launch of new phones on the BlackBerry 10 operatin system to the latter part of next year. Read full story on RIM's results.
The one positive note on the call was that the executives said that as part of that review, they are going to include looking at Ãopportunities to leverage the BlackBerry infrastructure,Ã which many analysts have been calling for, an option where RIM could license out its secure network technology to other smartphone ecosystems like iPhone and Android.
But itÃs clear that unless this company starts to move more quickly and change its approach of focusing on new hardware and its new software à both of which are coming out later and later à itÃs in a downward spiral.
As Berenberg Bank analyst Adnaan Ahmad noted in a letter on Wednesday to Balsillie and Lazardis: ÃYou both need to swallow the bitter pill and come out of denial.Ã
In a conference call with investors, the co-CEOs, Jim Balsillie and Mike Lazardis offered up the pay cut as their quasi-mea culpa for the company�s continued downward spiral.
They also reminded investors they are RIM�s(NASDAQ:RIMM) (TOR:CA:RIM) two largest shareholders, meaning they�ve lost about three-quarters of their own net worth this year as the company�s stock has collapsed.
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is that a trading drawdown.
5 billion goes to .8B
mikey just built a new mc mansion..........
looks like a trip 2 walmart for the furniture.
http://virtualglobetrotting.com/map/mike-lazaridis-house/view/?service=0
the lake looks a little green, mikey's wallet isn't......
carry on.
s
They also reminded investors they are RIM�s(NASDAQ:RIMM) (TOR:CA:RIM) two largest shareholders, meaning they�ve lost about three-quarters of their own net worth this year as the company�s stock has collapsed.
...............................................
is that a trading drawdown.
5 billion goes to .8B
mikey just built a new mc mansion..........
looks like a trip 2 walmart for the furniture.
http://virtualglobetrotting.com/map/mike-lazaridis-house/view/?service=0
the lake looks a little green, mikey's wallet isn't......
carry on.
s
You have taken the bullish comment out of contex.
From original post
I never did open a trade, but the 16C/15P strangle would have cost about $1.42 just before earnings, RIMM closed at $15.13. The position could have made a small profit or loss, depending on when it was closed on Friday.
December 16, 2011 - RIMM 15.00 Put - Days Range $1.25 to $1.89
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