[Corbu]

I like what John Chen is saying. Let's start by stabilizing the business, getting some new and bolder blood in and work from there. He is looking at 6Qs. We'll have to be patient...

"Early plans include meeting with government customers as well as those in the financial and telecommunications sectors in North America and Europe in an effort to "stabilize" those relationships. He also vowed to bring in new executives."

New BlackBerry boss John Chen out to prove skeptics wrong - Yahoo Finance

[m0de25]

I like what John Chen is saying. Let's start by stabilizing the business, getting some new and bolder blood in and work from there. He is looking at 6Qs.We'll have to be patient...

"Early plans include meeting with government customers as well as those in the financial and telecommunications sectors in North America and Europe in an effort to "stabilize" those relationships. He also vowed to bring in new executives."

New BlackBerry boss John Chen out to prove skeptics wrong - Yahoo Finance

I'm digging this guy's vibe. If he can pull this off... Wow!

[cjcampbell]

I'm definitely liking the vibe of this guy. If he pulls this off... Wow!

I'm still sitting on the side with a skeptical view of his statements. TH said some pretty impressive things too. I just hope this guy get's **** done. I love my phone and plan on getting another BB. Might even get an F&F deal for the Z30, so I truly hope this time it's for real.

[m0de25]

I'm still sitting on the side with a skeptical view of his statements. TH said some pretty impressive things too. I just hope this guy get's **** done. I love my phone and plan on getting another BB. Might even get an F&F deal for the Z30, so I truly hope this time it's for real.

I hear ya, but it's not his first pony show... It was impressive reading what he did with Sybase under very similar, challenging circumstances. And I just get this feeling that he's looking forward to tackling this head on... Like he's crazy enough to enjoy it.

[JLagoon]

I really f4cking hope that BBRY doesn't go below $6.

[bigbbrybeliever]

I'm still sitting on the side with a skeptical view of his statements. TH said some pretty impressive things too. I just hope this guy get's **** done. I love my phone and plan on getting another BB. Might even get an F&F deal for the Z30, so I truly hope this time it's for real.

Equalizing Chen with TH is unfair because Chen has far better resume than TH's in terms of:
1. Educations
2. Past Executive Positions and successes
3. Current board director positions in multiple fortune 500 companies
4. Connections in US and Asian,
etc....

[cjcampbell]

I hear ya, but it's not his first pony show... It was impressive reading what he did with Sybase under very similar, challenging circumstances. And I just get this feeling that he's looking forward to tackling this head on... Like he's crazy enough to enjoy it.

Very true.

[kfh227]

So it seems that we got most of what we wanted - downsized, BBRY staying public, more cash infusion, new CEO, BoD shakeup.
Now what? We have good phones and good OS, how do we get people to buy and use them?
How about making Android runtime seamless? I mean, how hard is it to make a native App for side-loading Android Apps?
Just make a GooglePlay App (like the BlackBerry World App) for BB10 and sideload Android Apps directly from our phones without users doing any extra work.

Chen is a good speaker, get him to do media rounds...

It sucks to see a large red number is my account, but this thread is still here and we are still talking about BBRY - not all bad...LOL

It's a legal issue, not a technological one. I still think bbry should make android phones.

Posted via CB10

[kfh227]

I really f4cking hope that BBRY doesn't go below $6.

I do because at some point I'll buy more.

Posted via CB10

[ccbs]

Well, leave the demoralizing workforce in the dumpster, move the headquarter to bay area here and compete for the same talent with Google, Microsoft and Apple. Get closer to the startup scene here and make friends, to keep up with all the new and upcoming apps.

[Shanerredflag]

Well, leave the demoralizing workforce in the dumpster, move the headquarter to bay area here and compete for the same talent with Google, Microsoft and Apple. Get closer to the startup scene here and make friends, to keep up with all the new and upcoming apps.

Could happen, at least a US office there would be a great start.

Posted via CB10

[Andrew4life]

It's a legal issue, not a technological one. I still think bbry should make android phones.

Posted via CB10

lol, if I were to get an Android phone, I'd go with anyone but BlackBerry. They have good software and terrible hardware. So without BB10, I'd pick the Android phone that has the best hardware.

[Shanerredflag]

So, took a good long while to catch up on the action .

Seems to me this is a great fresh start, I agree with whomever said six quarters to really see if this ship is fixable. I still don't see the reason for the billion infusion but they must need it if it was made availible and accepted for the terms specified. Maybe they buy a little B.C. company that really should be on their radar?

I have time to wait and will likely add when it drops under six, (which I'm sure it will next ER).

Now PLEASE Johnny C...sponsor the F1 Mercedes car again next season.

Posted via CB10

[fedakd]

Lenovo was more than ready to buy BlackBerry:

Lenovo pursued BlackBerry bid, but Ottawa rejected idea - The Globe and Mail

[Bacon Munchers]

I really f4cking hope that BBRY doesn't go below $6.

I haven't lost a penny, because I haven't sold(!)

[Corbu]

So, took a good long while to catch up on the action .

Seems to me this is a great fresh start, I agree with whomever said six quarters to really see if this ship is fixable. I still don't see the reason for the billion infusion but they must need it if it was made availible and accepted for the terms specified. Maybe they buy a little B.C. company that really should be on their radar?
I have time to wait and will likely add when it drops under six, (which I'm sure it will next ER).

Now PLEASE Johnny C...sponsor the F1 Mercedes car again next season.

Posted via CB10

Love the idea in bold.

[plasmid_boy]

Equalizing Chen with TH is unfair because Chen has far better resume than TH's in terms of:
1. Educations
2. Past Executive Positions and successes
3. Current board director positions in multiple fortune 500 companies
4. Connections in US and Asian,
etc....

I also like his managing philosophy. But let's see what is going happen - it's a complex business.

Posted via CB10

[rim4ever]

I'm a little puzzled by the short data today. One would have thought that shorts could have covered some with such aweful news and seemly huge volume. Guess what, the net short interest actually went UP today:

Interactive Charts

Any thoughts?

[b121]

Interesting day to say the least! I decided to pick up more shares at $6.01 in premarket trading and expand my long position (of course, still not too over-weighted in my portfolio). Only time will tell how this plays out, but I prefer this outcome to the sale at $9/share. At least if the company does turn it around, we have a chance to share the benefits.

In my mind, the markets blackberry can/does play in are so big, that only a small share can yield tremendous growth, provided they can improve their marketing through effective segmentation, channel management, advertising, etc. (yet to be seen, or course). I believe they have good products (bb10, bbm, mdm, etc.), welcome the management change and hope the inflow of cash buys enough time to build in some of these markets.

I guess we'll see, but I'm pulling for them. I have my money on the line like most of us.

[Corbu]

Lenovo was more than ready to buy BlackBerry:

Lenovo pursued BlackBerry bid, but Ottawa rejected idea - The Globe and Mail

Does this eliminate Lenovo from any future endeavour? How about coming to some form of agreeement with Lenovo whereby they would produce some entry-level and mid-tier phones running BB10? How about BBRY keeping some form of high-end phone manufacturing capabilities? I am obviously grasping at straws here... Who knows what will happen?

Let's look at what Mr. Chen said earlier today:
"I know we have enough ingredients to build a long-term sustainable business." "I have done this before and seen the same movie before."

As well, quoting from that Reuters interview:
"At Sybase, Chen slashed expenses and began focusing on pursuing niche segments of the database market rather than competing with bigger software makers Oracle Corp and IBM across all segments of the mammoth industry."

Wise thinking. Chances are he'll proceed in a similar fashion since he claims he's seen the movie before. Which niche segments should he concentrate on? I suggest stabilizing the Enterprise business first, BBM-x and some form of licensing deal with Lenovo or someone else for BB10. You guys know more than I do about the business and I'd be curious to know what you think as to the choices that he should make.

Personally, I'll be anxious to see who will be soon nominated to the Board and and who will join the management team as top level executives. The instability of the last few months may have ended today. Enough speculation. Let's judge the new interim CEO by his actions.

[bigbbrybeliever]

Morgan, if you get time, please enlightening me the following questions:
1. What is the true reason that BB wants the $1 billion convertible notes?
2. Who found and convinced Mr. John Chen to join BB?
3. Why is it so easy and quick to empower Mr. John Chen with title of Executive Chairman of the board without slightly noise from the existing board member and chairwoman?
4. What is the implication of item #3.

Thanks.

[cjcampbell]

Well, leave the demoralizing workforce in the dumpster, move the headquarter to bay area here and compete for the same talent with Google, Microsoft and Apple. Get closer to the startup scene here and make friends, to keep up with all the new and upcoming apps.

You know Google set up shop 5 minutes away from BlackBerry headquarters right? It might do them good to open an office there but this is not some dinky little town with 1 stoplight.

[notfanboy]

I'm a little puzzled by the short data today. One would have thought that shorts could have covered some with such aweful news and seemly huge volume. Guess what, the net short interest actually went UP today:

Interactive Charts

Any thoughts?

I'm guessing it's because, now that the company is remaining public, there's an earnings report they are looking forward to?

[danprown]

My guess: they are betting that the "for sale sign" has killed sales and the next quarter will be a bloodbath.

I'm a little puzzled by the short data today. One would have thought that shorts could have covered some with such aweful news and seemly huge volume. Guess what, the net short interest actually went UP today:

Interactive Charts

Any thoughts?

[fedakd]

The plot thickens:
Cerberus, Qualcomm, and co-founders asked for more time...

The issues that complicated Fairfax's willingness or ability to raise the funds necessary for the deal were also a factor in the ability of another potential buyout group to seal a deal of its own, one of the people said. That group included Cerberus Capital Management LP, Qualcomm Inc. QCOM -0.47% and two BlackBerry co-founders.

The consortium was frustrated that it wasn't able to do a more thorough examination of BlackBerry's books, according to people familiar with the matter.

Cerberus asked for an amount of information that was unrealistic to provide in the time available, another person said, adding and that all bidders had access to the so-called data room full of BlackBerry corporate information.

Adding to the uphill battle that group faced: It was coming together just within the last few days.

The group ended up sending BlackBerry a letter, noting the partnership it had formed and that it had potential financial backing from Goldman Sachs Group Inc., GS +0.68% according to people familiar with the matter.

The letter didn't include a price and asked for another month to formulate an offer. With its customers clamoring for a resolution to the process—not to mention investors—BlackBerry and its advisers felt like they didn't have another month to wait.

BlackBerry Abandons Sale Process - WSJ.com

LOL, yep, investors are certainly pleased at the coup Mr. Watsa has pulled. Printing new 52 week lows must be the new sign for investor confidence. He may not believe it right now, but his reputation has been tarnished. Even the Financial Post is accusing him of pulling off the biggest coup in Corporate Canadian history.

This story is long from over. Watsa has driven a stake through longs of BBRY. He has a call option on shares above $10, and is the first in line (before all of us stockholders) in the event BlackBerry needs restructuring or has to file for bankruptcy. He wins both ways. How does that make everyone feel? How does it make you feel that the private placement was offered only to the "privileged", and to nobody else?

Chen, at first glance seems just great, but I certainly remember the media suggesting that TH was a savior after a few quarters of cost-cutting. The fact of the matter is that BlackBerry needs a strategy. Continuing without it will be a slow bleed. A $1B issuance of debt is NOT going to make large companies upgrade to BES10.1, especially when they are suggesting in the media it is to offset 4-6 quarters of cash burn! Are the board of directors absolutely CRAZY???? And someone was wondering why the short interest was so high today! This is not a measure of confidence!!! "

We have $1B to offset cash burn. Please buy our products! We aren't going anywhere!" /sarcasm

Completely shocked at today's events. I need a drink!