[robsteve]

Rueters is reporting that Reseach in Motion declined a takeover offer this summer.

http://www.reuters.com/article/2011/...7BJ26S20111220

[waccotobacco]

Rueters is reporting that Reseach in Motion declined a takeover offer this summer.

Exclusive: Amazon weighed buying RIM but interest cooled:sources | Reuters

RIM is soooo screwed.... So many investors are going to want the co-CEOs' heads.

[OMGitworks]

What a great move for shareholders turning it down! Those co-CEO's have to go. RIMM is going to be the next Yahoo, founders being too proud and run a once great company into irrelevance.

[pseudo7]

It almost seems like the co-CEOs have decided that they started RIM so they're going to be the ones to kill RIM.

[sleepngbear]

I think it was absolutely a smart move to turn down any takeover offers. Those were shots in the dark because of the low share price. I think a partnership with Amazon could have been fruitful, whereby RIM would provide all of the functionality found on the Kindle Fire in the PlayBook. That would have given RIM the benefit if that alliance with Amazon and saved Amazon the expense and effort of developing the Fire. But I don't fault them at all for turning down takeovers; in fact I applaud it.

Nobody knows what would have been left of the company were it to be absorbed by another. The two boneheads do have a long-term plan. Whether it is a good plan and whether they can execute it remain to be seen; but the benefits of success far outweigh those of being acquired.

[OMGitworks]

I think it was absolutely a smart move to turn down any takeover offers. Those were shots in the dark because of the low share price. I think a partnership with Amazon could have been fruitful, whereby RIM would provide all of the functionality found on the Kindle Fire in the PlayBook. That would have given RIM the benefit if that alliance with Amazon and saved Amazon the expense and effort of developing the Fire. But I don't fault them at all for turning down takeovers; in fact I applaud it.

Nobody knows what would have been left of the company were it to be absorbed by another. The two boneheads do have a long-term plan. Whether it is a good plan and whether they can execute it remain to be seen; but the benefits of success far outweigh those of being acquired.

Low share price??? Seriously? The stock was worth 3 times as much at the start of the Summer than it is today. If their plan was to turn a dollar into 33 cents in 6 months, they are doing a great job. I think its pretty clear their "plan" has put the company is serious jeporady and cost shareholders the shirt off their backs.

[_StephenBB81]

Low share price??? Seriously? The stock was worth 3 times as much at the start of the Summer than it is today. If their plan was to turn a dollar into 33 cents in 6 months, they are doing a great job. I think its pretty clear their "plan" has put the company is serious jeporady and cost shareholders the shirt off their backs.

Yes because it only takes 6 months to rebuild an entire OS, redesign and develop an entire new hardware line, and evaluate your existing supplier, distributor, and marketing relationships.

[loneweasel]

THIS is what happens when you have the same two people as co-chairmen and co-CEO.

Jim and Mike should probably start preparing their defenses in the upcoming shareholder lawsuits.

[lnichols]

Shareholders are going to be pissed for RIM not taking it. the stock is down below $13 and this could have done something for it. As a non-shareholder I'm fine with them turning it down, but I'd say there will be more pressure than ever for management change. It is very obvious that Mike and Jim are too emotionally attached to the company and will not let go of the reigns willingly.

[OMGitworks]

It almost seems like the co-CEOs have decided that they started RIM so they're going to be the ones to kill RIM.

I bet they have large photos of Jerry Yang plastered all over their offices in Waterloo.

[Economist101]

Yes because it only takes 6 months to rebuild an entire OS, redesign and develop an entire new hardware line, and evaluate your existing supplier, distributor, and marketing relationships.

Where are you getting this "6 months" figure from? I ask because if you're suggesting QNX-based phone development just started 6 months ago, RIM's issues are bigger than I realized (which is saying a lot).

[_StephenBB81]

I think it was absolutely a smart move to turn down any takeover offers. Those were shots in the dark because of the low share price. I think a partnership with Amazon could have been fruitful, whereby RIM would provide all of the functionality found on the Kindle Fire in the PlayBook. That would have given RIM the benefit if that alliance with Amazon and saved Amazon the expense and effort of developing the Fire. But I don't fault them at all for turning down takeovers; in fact I applaud it.

Nobody knows what would have been left of the company were it to be absorbed by another. The two boneheads do have a long-term plan. Whether it is a good plan and whether they can execute it remain to be seen; but the benefits of success far outweigh those of being acquired.

I agree , For Investors allowing Amazon to purchase them would have been better
But for RIM as a company, and BlackBerry as a product, a Purchase by Amazon who has no vested interest in BlackBerry would be death to the BlackBerry.

Amazon most likely have App world replaced with Amazon market place, and the focus would be on content purchasing, and data mining, it would not be about data security and data management,
I could see Amazon selling off the service part of RIM for BES, and Kill the NOC, and make BlackBerry just a generic device.

[_StephenBB81]

Where are you getting this "6 months" figure from? I ask because if you're suggesting QNX-based phone development just started 6 months ago, RIM's issues are bigger than I realized (which is saying a lot).

Form the poster I quoted?

did you read his post?

[palmless]

I agree , For Investors allowing Amazon to purchase them would have been better
But for RIM as a company, and BlackBerry as a product, a Purchase by Amazon who has no vested interest in BlackBerry would be death to the BlackBerry.

Er, you are familiar with the term fiduciary responsibility, I take it? To whom do the two co-CEOs have the duty. Let's make this multiple choice:

1. They have a duty to Blackberry as a product!
2. They have a duty to RIMM as a company!
3. They have a duty to the loyal fans!
4. They have a duty to the stockholders.

This is a big one, very important...

[Economist101]

Form the poster I quoted?

did you read his post?

I did, but I didn't read anything about "rebuilding an entire OS" in 6 months.

[inicophone]

I support that decision to reject a takeover.

RIM can get back to the top. At the end of the day, other than the US... where has the fall been? Honestly, considering that now over half of all those in the USA are living in the poverty line I am not sure whether this smartphone boom will carry on there. And as most don't actually have a smartphone, now is the time for RIM to enter with real penetration force with cut prices to win the few with good disposable incomes! Not long ago the Curve was the best seller... That can come back.

Amazon are a online shop.
RIM are communications leader.
How will they match?

RIM are still in profit.
RIM are still gaining subsrcibers.
Mistakes were made - but are being rectified.

When is someone going to stand up and say that enough is enough from American journalists who just cannot stop hating RIM? It is getting ridiclous that a company with revenue of $5.2bn and no debts is going to suddenly disappear over night. I believe they have $1.5bn in cash!!!

RIM are not going to disappear.

The only thing that would be good is Amazon apps on the BlackBerry. But then, they have a good mobile site. And apps for other platforms so no big deal really.

[BaconMunch]

I have to agree with deRusett here, anyone that supports RIM as we love it best cannot support a takeover. There are many companies that can look at RIM's balance sheet, swoop in and sell off assets, license service and patents; BlackBerry would die. The "bone-head" CEOs have done the one thing that no one is giving them credit for, they've found a worthy and capable successor for BBOS in QNX. They have the vision, and they're going through a transition which needed to be complete as of yesterday. Not many companies care enough about BlackBerry to guide it through this transition and rude reality check.

[kevinnugent]

Had these "boneheads" as you describe them been Directors of a company based in Australia, they would have a fiduciary responsibility to the shareholders. If they dissed a good offer, and were proven wrong (let's say BB10 doesn't save the business) they would be personally liable for any losses the shareholders suffer as a result.

I don't think even these guys have enough money for that.

The article suggests that they were directed by the Board to discount the offers. Don't they control the Board?

[_StephenBB81]

Er, you are familiar with the term fiduciary responsibility, I take it? To whom do the two co-CEOs have the duty. Let's make this multiple choice:

1. They have a duty to Blackberry as a product!
2. They have a duty to RIMM as a company!
3. They have a duty to the loyal fans!
4. They have a duty to the stockholders.

This is a big one, very important...

Oh fun
fiduciary responsibility, says they have a duty to the Stockholders & The Company

they must act in the best interest of Both.
Under fiduciary responsibility a CEO has a duty of Loyalty to the company, Care of the company's business, disclosure of all material information when seeking shareholder approval or when a conflict of interest exists, and they must take EXTRA CARE when a company is a take over target to ensure the company gets the best value for it's assets, as well as the sharehoulders get their best value.

Loyalty to the company, argued at the most important aspect of fiduciary responsibility, would be to not sell the company down the drain to appease short term investors but to ensure any deals are best for the long term of both the company and the share holders.

[OMGitworks]

Yes because it only takes 6 months to rebuild an entire OS, redesign and develop an entire new hardware line, and evaluate your existing supplier, distributor, and marketing relationships.

Not sure what you mean. Many companies launch new products and do so poorly yet their stock price doesn't tumble like RIMM. The entire price drop is a result of many misteps including terrible investor relations, missing deadlines and even the most recent pre-announcement debacle. You can't lay this all at the doorstep of the PB or OS10. The are are supposed to figure this al out, instead we got amateur hour and the market punished them as it should. It is sort of what they did or didn't but mostly how poorly they managed expectations and over promised and underdelivered.

[_StephenBB81]

I did, but I didn't read anything about "rebuilding an entire OS" in 6 months.

RIM is in the process of writing all an entirely new OS, and my interpretation of the quoted post was that the expectation was that from the Summer till now RIM should have been able to turn around their product, and public perception.

[Economist101]

When is someone going to stand up and say that enough is enough from American journalists who just cannot stop hating RIM? It is getting ridiclous that a company with revenue of $5.2bn and no debts is going to suddenly disappear over night. I believe they have $1.5bn in cash!!!

Don't even attempt to make an argument based on their current financial results; there are objective reasons their stock closed at $12.52 today, and they have nothing to do with American journalism (which is a blue whale-sized excuse for an underperforming company).

[OMGitworks]

Form the poster I quoted?

did you read his post?

I was referencing the time at which they refused the alleged take over bid/talks (Summer) I didn't arbitrarily select it to try to place blame. Sorry if that was not clear.

[_StephenBB81]

Not sure what you mean. Many companies launch new products and do so poorly yet their stock price doesn't tumble like RIMM. The entire price drop is a result of many misteps including terrible investor relations, missing deadlines and even the most recent pre-announcement debacle. You can't lay this all at the doorstep of the PB or OS10. The are are supposed to figure this al out, instead we got amateur hour and the market punished them as it should. It is sort of what they did or didn't but mostly how poorly they managed expectations and over promised and underdelivered.

I don't lay this down on the doorstep of OS10 and the PB

But they have been on a decline since 2010, and that declines only hope of turn around is changing public perception of which RIM can not do with the existing OS, their previous hardware development cycles,
the OS7 devices showed RIM is addressing hardware, they will need to take it a step further, but from Summer to now, there was NO HOPE of RIM stopping their stock declining after their October outage, That outage will ****** the increase of public perception for a few quarters,

Stocks are about Public Perception, RIM needs to WOW people.

[Economist101]

RIM is in the process of writing all an entirely new OS, and my interpretation of the quoted post was that the expectation was that from the Summer till now RIM should have been able to turn around their product, and public perception.

I get that, but unless you're saying they started 6 months ago it's disingenuous to suggest that they've had just 6 months to complete the transition.