"Reading from Device Calendar" then
"Processing Device Calendar".
Next, "Reading from Microsoft Outlook Calendar" for about 15 seconds -- after which the standard MS error window comes up ("Blackberry Desktop manager has encountered a problem and needs to close") and DM crashes.
I saw a previous thread from a user with the same problem, but no one offered a solution. Thought I'd try again.
Try to uninstall the DM and re-install it. I'd use a 3rd party uninstaller (like Revo Uninstaller) because this will remove all of the registry entries from your PC.
This happened to me with an older version of the DM. Make sure you download the one from Blackberry.com