[greggebhardt]

Theories why none of the other companies mentioned have stepped in with a bid?

Sent from my Nexus 7 using Tapatalk 4

I think the $9 got in their way.

[Zimbad]

This is the point where people pop in to say that they sold all of their BBRY and are out since there's no floor anymore - if there ever was one. If there's no plan to break up the company by selling the assets then this stock could easily go all the way to zero. PW owns $1B in BBRY debt, now which means he gets the first $1B if the company liquidates and the shareholders get what's left.

u are incorrect; fairfax is taking $250 million of the bonds.

[bigbbrybeliever]

LOL, thanks for that! Prem has $ 250 million of the $ 1B in UNSECURED DEBT. He has zero claim to any assets.

Also if BBRY share goes down to zero, PW will lose all the $$$$$$$ for his 54 million shares at average $14/share.

[spiller]

Now who wants to say Bloogberg was spreading rumors?

I should always trust the market and bloogberg, damn it

Sure looked like other bidders coming.... (1) ML+Cerberus and (2) Lenovo

I would have liked to seen someone come in with a firm bid to set market value and leave it up to the shareholders to decide

[johnyblaze]

The great savior Prem Watsa who had supposedly put his reputation on the line and could easily secure financing couldn't do didly, but no worries Im sure the bidding war will start any second now!

[cgk]

I guess the big question is - what is the actual direction of the company - is an interim CEO going to lead to problems because they don't or can't make big decisions?

[danprown]

The interim CEO and his board will find out in their search that the best CEO is the interim CEO...

[OMGitworks]

I know the new PW/1B debt is not secured by specific assets but does anybody know under Canadian law if the bondholders have priority over shareholders? I would think they would, assuming they get paid before shareholders if BBRY has to liquidate, but I know assuming things has risks.... Just trying to sort out what unsecured means and if it also means a lack of priority. Some meaningful distinctions to be drawn there....

[cgk]

Sure looked like other bidders coming.... (1) ML+Cerberus and (2) Lenovo

I would have liked to seen someone come in with a firm bid to set market value and leave it up to the shareholders to decide

Just seen this on twitter:

Iain Marlow (@iainmarlow) tweeted at 4:10 pm on Mon, Nov 04, 2013:

National Bank on failed $BBRY bid: "Other potential bidders have been inside the tent; nobody liked what they saw. Why should we?"

(https://twitter.com/iainmarlow/statu...95437314768896)

[njblackberry]

LOL, thanks for that! Prem has $ 250 million of the $ 1B in UNSECURED DEBT. He has zero claim to any assets.

Not that I would dare disagree with you, but in the event of a bankruptcy, wouldn't Mr. Watsa move to the front of the collections line?

Maybe this will help: http://dealbook.nytimes.com/2013/11/...errys-endgame/

Sounds like a win/win for Mr. Watsa. He couldn't complete his original deal, he makes a ton of money if BBRY goes above $10 and he is first in line in case of a bankruptcy.

Small investors? Not so good.

[sidhuk]

I was going to vote against the fairfox buy out deal.( i dont have significant amount of shares)
Fairfox and others have showed confident in the company by investing $1bill. Thats not a small amount by any standard.
Todays news should give confidence to corporate buyers for the blackberry products.
Prem has done the honorable thing.
For sale sign is off.
10.2 is out.
Z30 is out.
XBBM is out, initial numbers are encouraging.
TH is out.
Change in management team coming which i wanted.
BES 10 trials are at the end.
Workforce numbers will be manageable.
Lots of inventory on hand which is already written off.
Getting close to the Tax refund season.

One thing is still bothering me that how much info shorts know about inside news. it is like shorts are running the company. The day the shorts number come down significantly, thats the day i see the company making recovery IMO.
I still havnt sold any shares lately and not buying any more in blackberry until i see those short numbers come down.

[plasmid_boy]

I was long and I will stand longer. That's what I say.

People like to hear Chen speak, so let's get him out there and spread the new BB plan to the world.
Oh, and announcing a partnership would be perfect.

[jhowe204]

Any theories what the $1 bil is for?

Perhaps a partnership with Facebook, maybe integrate bbm with Facebook somehow? Hello bbm money, hello billions of bbm users. Lol. We can dream can't we?

Go Jets go!

[bungaboy]

I took advantage of this morning's buying opportunity! Up 5%

[bungaboy]

It sure became grey quickly in here this morning!

[spiller]

The great savior Prem Watsa who had supposedly put his reputation on the line and could easily secure financing couldn't do didly, but no worries Im sure the bidding war will start any second now!

He COULD have if he wanted to. Does he not have full power over Fairfax? He could have done it, but he didn't.

IMO his reputation is done. He didn't live up to his word and he could have.

[plasmid_boy]

I took advantage of this morning's buying opportunity! Up 5%

Good for you! I added more a week too early - out of cash now - LOL

[cgk]

Todays news should give confidence to corporate buyers for the blackberry products.

Can't see how, nothing in the fundamentals have changed, nobody else bid and the main bidder was unable to get anyone else to pitch in once they had seen the books - that does not suggest good things.

[peter9477]

Theories why none of the other companies mentioned have stepped in with a bid?

They were waiting for Fairfax today, as many of us have said. Since that didn't happen, everything gets reset and past discussion of those other companies is basically moot.

[plasmid_boy]

He COULD have if he wanted to. Does he not have full power over Fairfax? He could have done it, but he didn't.

IMO his reputation is done. He didn't live up to his word and he could have.

I hear you. But in business (or any governance), we need to do what is right in the current situation and not based on what we promised at an earlier time. Basically, we need to leave our pride and emotions at the door when we walk into the boardroom.

[cjcampbell]

He COULD have if he wanted to. Does he not have full power over Fairfax? He could have done it, but he didn't.

IMO his reputation is done. He didn't live up to his word and he could have.

He didn't have a choice in the matter. The BOD decided to go a different route.

[silversun10]

The interim CEO and his board will find out in their search that the best CEO is the interim CEO...

or his twin

[sidhuk]

Good Morning Morgan,
Although it is too early to judge what more will come out of blackberry with todays news. What are your thoughts of keeping your money in blackberry for six months to one more year?

[kfh227]

Why is bbry taking on debt?

Is it just because if they did burn through cash they wouldn't get financing at that point?

And if that were to happen, would the extra cash even matter?

Seems like this is just a sweetheart deal for fairfax. First in line to get his $250m back and if that doesn't happen, he has a lottery ticket.



Posted via CB10

[Superfly_FR]

The great savior Prem Watsa who had supposedly put his reputation on the line and could easily secure financing couldn't do didly, but no worries Im sure the bidding war will start any second now!

Funny enough, most will use the "fail" word, while some will consider that a serious analysis of the situation may have changed strategic options. This is what we can read in French press (Finance - Les Echos, #1 daily newspaper in that segment). I'll try to translate it on my own, but you'll have it in French also if you prefer to do it by yourself.

Words are important ... see bolded expressions.
Does not sound like a failure, but as an alternative. A BOD chosen alternative, a rescue plan, not an emergency plan.

Canadian supplier has decided to remain independent in organizing a rescue plan with a capital increase reserved for a group of investors led by Fairfax, said the smartphone maker on Monday.

L’�quipementier canadien a d�cid� de rester ind�pendant en organisant un plan de sauvetage avec une augmentation de capital r�serv�e � un groupe d’investisseurs emmen� par Fairfax, a indiqu� le fabricant de smartphone, ce lundi.

Source : BlackBerry*l�ve 1 milliard de dollars et conserve son ind�pendance, Actualit�s