[daveycrocket]

Yahoo News UK & Ireland - Latest World News & UK News Headlines

Watsa says he will not break up company, when talking about not abandoning the bid.

A clear message

[kevinnugent]

He also said shares in Blackberry were worth $40 each. He'll say anything now. Once he privatizes he can do whatever his equity partners allow him to do, and he won't have to tell anybody but them.

[richardat]

He also said shares in Blackberry were worth $40 each. He'll say anything now. Once he privatizes he can do whatever his equity partners allow him to do, and he won't have to tell anybody but them.

Yes, he certainly cannot be trusted, or taken at his word. Nevertheless, it's interesting....is he, to use the proper clinical term, nuts? Does he actually believe then that the company can return to what it was as he implies?

Certainly, it's possible for the company to go on in name at a much, much smaller scale...in essence, it's already happened - BB is now.....gone as we knew it. If they downsize even more, they can concentrate on software and services....but what little they have could only sustain a very small (relatively) company, and anything they build would be a long term project....with a very long way too go. It's hard to imagine investors being in for that?? Maybe?

Well for Prem, It's not bad, he's not putting anything in. He could try to build a services and software business, If he actually succeeded, he'd become a Canadian hero. If he fails, he'll have lost nothing (of his own) that wasn't already lost, and he can say he tried.

"Hi, it's Prem, yeah, I need some money, no, I'm not breaking it up, we;re going to run the company, as what? not exactly sure yet....we're going to build something, and have a business, yeah, it'll be in tech...I have some ideas - been thinking about it with some of the guys for the last week or two, no, I"m not putting money in, but hey, big money in tech services!"

[Caymancroc]

And BBRY management led you to believe that you were going to get BB10 on your Playbook too. Glad I don't believe what anyone associated with that company says.

Apple, on the other hand, previewed iOS 7 earlier this year, said it would be free and it would be available in the fall. Well first few days of fall came and I have iOS 7. It is amazing what happens when a company follows through.

[daveycrocket]

I hear what you are saying, but in business if you need to retain your credibility you wouldn't do as you seem to suggest. He didn't need to say anything did he so I believe it to be his intention.

But I am aware that the nay Sayers will want to have their nay say. And that's the reason BlackBerry needs to go Private.

[allisos]

Yes, he certainly cannot be trusted, or taken at his word. Nevertheless, it's interesting....is he, to use the proper clinical term, nuts? Does he actually believe then that the company can return to what it was as he implies?

Certainly, it's possible for the company to go on in name at a much, much smaller scale...in essence, it's already happened - BB is now.....gone as we knew it. If they downsize even more, they can concentrate on software and services....but what little they have could only sustain a very small (relatively) company, and anything they build would be a long term project....with a very long way too go. It's hard to imagine investors being in for that?? Maybe?

Well for Prem, It's not bad, he's not putting anything in. He could try to build a services and software business, If he actually succeeded, he'd become a Canadian hero. If he fails, he'll have lost nothing (of his own) that wasn't already lost, and he can say he tried.

"Hi, it's Prem, yeah, I need some money, no, I'm not breaking it up, we;re going to run the company, as what? not exactly sure yet....we're going to build something, and have a business, yeah, it'll be in tech...I have some ideas - been thinking about it with some of the guys for the last week or two, no, I"m not putting money in, but hey, big money in tech services!"

Just think a bit before you speak.... walk into a store.... find the best video game out right now... hold it in your hand and say it's worth the $60 pride tag on it.... then actually think about whether you would buy it next week when you see it in the $9 bin....
I'm sure your integrity would prevent you from under paying... and you would offer the store more money....

Posted via CB10

[JasW]

"[Watsa] noted the deal is subject to six weeks of due diligence but stressed Fairfax would not abandon it."

Yeah, that makes sense. You mean no matter what due diligence uncovers -- no matter how disastrous a state of BBRY a look at the books et al. reveals -- Fairfax will go through with the deal?

Something stinky and fishy here.

[Bluenoser63]

"[Watsa] noted the deal is subject to six weeks of due diligence but stressed Fairfax would not abandon it."

Yeah, that makes sense. You mean no matter what due diligence uncovers -- no matter how disastrous a state of BBRY a look at the books et al. reveals -- Fairfax will go through with the deal?

Something stinky and fishy here.

Your posts are what stinks.

[igor10000]

And BBRY management led you to believe that you were going to get BB10 on your Playbook too. Glad I don't believe what anyone associated with that company says.

Apple, on the other hand, previewed iOS 7 earlier this year, said it would be free and it would be available in the fall. Well first few days of fall came and I have iOS 7. It is amazing what happens when a company follows through.

Yeah, amazing. Still, never gonna buy Apple.

[mikeo007]

Long thread on this already right here:
http://forums.crackberry.com/news-ru...gether-853071/

[daveycrocket]

"[Watsa] noted the deal is subject to six weeks of due diligence but stressed Fairfax would not abandon it."

Yeah, that makes sense. You mean no matter what due diligence uncovers -- no matter how disastrous a state of BBRY a look at the books et al. reveals -- Fairfax will go through with the deal?

Something stinky and fishy here.

"Be careful when speaking. You create the world around you with your words." From the Navajo

Sometimes in our need to be heard we over talk

[daveycrocket]

Long thread on this already right here:
http://forums.crackberry.com/news-ru...gether-853071/

Yep thanks but that was speculative, this is his statement.

[Sith_Apprentice]

Thread re-titled to keep it apart from previous Watsa threads

[JasW]

Your posts are what stinks.

Nice. This from someone who believes that unless you still own a BB, you should not be allowed to post here. And whose opinions -- if you can call them that -- are so untethered to the reality of what's happening, they, along with a MetroCard, could get one on the subway.

[kevinnugent]

You know, after a day or two thinking about this bid something just doesn't add up. The fact that Watsa didn't have financing lined up before making this bid public means that he was pushed by something into making the bid public. What? And why did Blackberry meet with the Canadian Government to get them to relax foreign ownership rules recently? Watsa's group would be Canadian. Honestly, I'm starting to think that Watsa's bid was an effort on Blackberry's part to try and put a floor on their stock price (especially with the disastrous news about to be released). I think there's a hesitant foreign bidder waiting in the wings, and they are trying to push/force an actual bid from them. Then Watsa walks away with $150m and more than $9 a share for his portfolio. I dunno..... there's just something really STRANGE with all the bad news, cancelled Earnings Calls, unfinanced LOI offers..... really strange.

[FSeverino]

You know, after a day or two thinking about this bid something just doesn't add up. The fact that Watsa didn't have financing lined up before making this bid public means that he was pushed by something into making the bid public. What? And why did Blackberry meet with the Canadian Government to get them to relax foreign ownership rules recently? Watsa's group would be Canadian. Honestly, I'm starting to think that Watsa's bid was an effort on Blackberry's part to try and put a floor on their stock price (especially with the disastrous news about to be released). I think there's a hesitant foreign bidder waiting in the wings, and they are trying to push/force an actual bid from them. Then Watsa walks away with $150m and more than $9 a share for his portfolio. I dunno..... there's just something really STRANGE with all the bad news, cancelled Earnings Calls, unfinanced LOI offers..... really strange.

That's exactly what I am thinking.

The other option is that there was a foreign bidder interested but the price was too high... but even that falls into this bid because none of the articles or analysts were quoting BlackBerry at $9, we were seeing $10-$14 everywhere (regardless of what CB posters think), so...after the stock tanked, if there was another party interested but not for over $10 Watsa slides in with a $9 bid, ensuring that this foreign buyer now knows they must bid at $10. so Watsa raises the price of each of his shares by at least $1 and gets $150 million when the other company buys. Also, if people don't like the offer, like right now, the stock goes lower and Watsa can change his offer and buy at bargain prices if he believes it to he worth it.

Bbry is sitting at $8 now, so if there is another company interested they need to move, or Watsa can lower to $8 or even $8.50 and save a lot of money that he doesn't have

Posted via CB10

[daveycrocket]

I think that you have a point about what seems like an not fully worked out bid, And I also think you have a point about it being rushed, could this all have been about the bad financial statement, so the offer was about trying to save market share and instil some kind of confidence in BB future.

[njblackberry]

I think he has the money, but isn't willing to invest anymore.
His first responsibility is to his shareholders, and try to recover some of their money. It is not to BlackBerry, their stockholders, employers and certainly not to their customers.
He is contributing his shares. Which are already paid for (and under water).
He may WANT to keep the company together, but if 90% are owned by entities that don't really care about BlackBerry (and just want to make money), then it is immaterial.
He can get the money - at what terms?

[CHIP72]

"[Watsa] noted the deal is subject to six weeks of due diligence but stressed Fairfax would not abandon it."

Yeah, that makes sense. You mean no matter what due diligence uncovers -- no matter how disastrous a state of BBRY a look at the books et al. reveals -- Fairfax will go through with the deal?

Something stinky and fishy here.

Your posts are what stinks.

Is your nose blue from a lack of air after being stuck with your head in the sand? With the stock continuing to drop, it wouldn't be surprising if Fairfax lowered its offer, or if things at Blackberry are even worse than we realize, pull out of the deal entirely. Remember, Fairfax also still needs to line up financing as well.

[kevinnugent]

Is your nose blue from a lack of air after being stuck with your head in the sand? With the stock continuing to drop, it wouldn't be surprising if Fairfax lowered its offer, or if things at Blackberry are even worse than we realize, pull out of the deal entirely. Remember, Fairfax also still needs to line up financing as well.

Today's figures won't help getting financing either. Worse than they stated even less than a week ago.

[ALLYSON1989]

I have 300000 shares and i am voting against the deal.
If BlackBerry liquidated it will get a minimum of
2.5 cash
2.0 patents
1.0 qnx
1.0 it's secure server
1.0 BBM
1.0 BES
1.0 hand set
.50 for its inventory
Total 6..50 billion if they just close up an sell its assets.
He is stealing it for 4.50 billik
It's worth 13.00 a share liquidated. Look at the balance sheet. What us the tangible book value. About 15 per share. Watsa will cash out when he beaks up the company. You'll see and we will get screwed everyone will lose

Posted via CB10