1. MPF94025's Avatar
    As a dual iPhone 5 (iOS7 now) /Z10 user, I strongly prefer the Z10 as my main communication tool. It would be my hope that BBRY could regain market share either via enterprise software or consumer devices, regain market share, stimulate app development, and bridge the "app gap", making the phones more relevant to both the enterprise and consumers. In brief, my great hope is for the company to thrive, ideally as a publicly traded company as it stands now, as there is less chance of it breaking into pieces.

    Subjective impressions aside, BBRY has accomplished some positive things over the past year: at the same time there have glaring missteps All have been recounted, but to ensure we're on the same page among the missteps, which I feel have cost the company dearly, are: 1) terrible marketing/advertising 2) inadequate incentives for existing RIM users to upgrade 3) brash statements that may have been taken out of context but were damaging nonetheless (tablets are dead; will sell millions of Q10 phones; BB10 on Playbook; announcement company was for sale; funereal mood around June's QE; lack of convincing vision for the future, etc etc)

    One can believe or doubt Prem Watsa's motivation in making his $4.7B bid Monday. He clearly stated he wants BBRY to return to its roots, not be torn apart. At the moment, he has lost nearly half a billion dollars on his investment. Many of the steps he has taken since leaving the BOD were actions he could have taken while on the Board: 1) helping the company go private 2) finding a tech-titan partner 3) etc. It is my hypothesis he left the BOD because he felt the current leadership was ineffective and that he could do more outside the company than within. It is also my hypothesis that the Canadian government as well as other potential financial partners feel the same way and will not invest with this current CEO and BOD.

    It seems fair to say that T Heins and B Stymiest in their roles as CEO and Chair of the Board, are responsible for many of the missteps over the past 9 months. Interestingly, Stymiest only received 81% of the vote for retention on the BOD. It is an interesting mathematical observation that if one were to take Prem Watsa's shares, add Lazaridis' shares, and adjust for total votes cast, they would be responsible for 19% of all votes.

    The Fairfax bid is one that one can love or hate. For now, it brings a "floor" and adds some stability to the situation. Based on a report from Bloomberg, Watsa has lost nearly $500M on his investment in BBRY so far. To say he is motivated to rectify this goes w/o saying.

    It does not appear that T Heins or any members of the BOD are willing to take responsibility for the company's struggles: we constantly hear blame laid upon "the highly competitive smartphone market". We never hear BBRY saying "we made bad decisions". There needs to be some accountability by the BOD for their actions/decisions if they are to fulfill their fiduciary obligations to shareholders. I, for one, do not seem them doing so now, nor over the past 9 months since BB10 OS was released.

    Is it time for Heins and Stymiest to yield their titles, even if symbolic, (they could still remain on BOD for now), and put reigns in the hands of others? There is an outside chance it would show potential partners that BBRY is willing to change. As I see it, by retaining their positions they are tacitly acknowledging that leadership/management is not the problem, instead that the technology really is the problem. Many of us would disagree with that, eg those of us who use, appreciate, and value the Z10 and other BB10 OS devices. By yielding their titles, it could increase the chances that outsiders with true vision could become more interested in playing roles in the company and/or partnering. At the moment, it is clear no one wants to support this leadership team.

    Watsa's bid may trigger greater interest and more bids. It if does not, there is no guarantee that BBRY will be here in a year, despite his stated support.

    New leadership at BBRY would trigger a new path, likely has a better chance of keeping the company alive (Watsa will not be able to run BBRY on his own, not his expertise, etc). Should that start with Heins and Stymiest yielding their titles and announcing a search for new Board members later this week? No disrespect to Heins, but it is also a fair question to ask if he should step down from BOD and take interim role. Firing him would be dramatic, but there is likely some expertise he brings that could be helpful during a transition phase.

    It would be a dramatic step for Heins and Stymiest to step down, but the company is teetering on the brink of oblivion. There is talk of shareholder lawsuits, especially after the actions of the last few days which have seemed suspicious to many. The leadership change, could likely be accomplished with a vote by the BOD, with ratification by shareholder voting (I'm by no means an expert on rules that govern this, so I could be mistaken: changes on the BOD seem to happen w/o much fanfare otherwise). Seems like the time has come for this, at a minimum. Perhaps a small step towards getting BBRY back on track and opens up new possibilities.

    Appreciate feedback.
    Last edited by MPF94025; 09-24-13 at 04:14 AM.
    09-24-13 03:53 AM
  2. pkcable's Avatar
    My biggest fear is that Mike L comes back!
    09-24-13 10:28 AM
  3. BBThemes's Avatar
    Heins without a doubt yes. sure people will say im hating, but where has he been lately?
    New device launch (Z30) - Not There
    ER guidance warning - not a peep
    4500 of his own employees jobs going - nothing
    BBM cross platform issues - sod all
    Company reciving a bid - nothing

    As a CEO of a (currently) public company he should still be front and center and act like a CEO, not even makings comments or attending events is lazy at best.
    As for stymiest, I haven't followed what her role entails and how its gone, but the advertising has been overall horrendous. take for example today on facebook, they put a post up saying 'theres a time to think, and a time to act' now set aside that you don't follow a comma with the word and (lol) your still left with a very poor statement from a company whose BBM launch just fell apart.
    Frank Boulben has to go, he`s been at the company long enough to instigate any changes needed in staff and direction but still the advertising is terrible. Also his days are probably numbered anyways as if the go enterprise only then advertising is less of an issue.
    09-24-13 10:41 AM

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