11-11-13 11:43 AM
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  1. oilgeo10's Avatar
    Hmmm...funny how BB and others proclaimed that BB was flush with 2.5 billion in cash and that everything was alright but now all of a sudden they need to raise a billion...

    Really does show how rapidly that burn rate is picking up.
    2.5 billion was at the end of August, with Q3 reporting end September. Spend rate is probably 500M / month + the 400M cost of the layoffs. Chapter 11 is not far off at the rate.

    Posted via CB10
    Dunmanway Emar and boi2012 like this.
    11-04-13 08:53 AM
  2. David in Durham's Avatar
    I agree that it's the best move right now. Heins might be great as a behind-the-scenes guy (I don't know), but he has zero charisma. They also seriously need a new CMO with a fresh vision.
    11-04-13 08:54 AM
  3. distributor1's Avatar
    Did I miss something? He still gets a huge payout from what I understand.

    They are going to have to move really quick. vendors are going to start getting worried and they need someone to try to bring confidence to the carriers(if they decide to stay in the phone biz)
    11-04-13 08:56 AM
  4. NYC10065's Avatar
    Getting rid of Thorsten Heins is a smart move.

    After presiding over the disastrous launch of BB10 and before that as COO, he was the wrong person for the job. In many ways, he accelerated the decline of BBRY and placed it in the position it is today.


    Let's hope that the Board changes are smart ones and that the new CEO is someone with some vision and guts.
    Last edited by NYC10065; 11-04-13 at 09:13 AM.
    11-04-13 09:01 AM
  5. Dunmanway Emar's Avatar
    Hmmm...funny how BB and others proclaimed that BB was flush with 2.5 billion in cash and that everything was alright but now all of a sudden they need to raise a billion...

    Really does show how rapidly that burn rate is picking up.
    My thoughts exactly. we've constantly been told that the company has no debt and with billions in the bank. So why then do they need another billion injected? Sounds to me that someone's done a cash flow forecast and realised that the cash will all be gone pretty soon...
    chr1sny and JeepBB like this.
    11-04-13 09:01 AM
  6. Daniel Rudolf's Avatar
    I heard Steve Ballmer is available.
    11-04-13 09:01 AM
  7. menglim's Avatar
    Where can I buy BB stocks from the philippines?

    SQN100-3 pin:2AF2C952
    11-04-13 09:02 AM
  8. donnation's Avatar
    What a joke he was. He did NOTHING for BB but make it more of a joke than it has already become. Here's to hoping they get someone with a pulse in there now that can steer the ship in the right direction. My god he was awful. A poor leader and an even poorer speaker.
    11-04-13 09:03 AM
  9. nabil114's Avatar
    I wanted Fairfax to buy it.
    11-04-13 09:03 AM
  10. MLE724's Avatar
    First of many surprises IMO. Heins out is a good move. He talked the talk, but never walked the walk. We need positive actions. There is plenty of life in BlackBerry; but you have to get the blood-suckers out before they drain it dry.
    geoggers35 likes this.
    11-04-13 09:06 AM
  11. MarsupilamiX's Avatar
    The stock will go down because people were looking for the company to be sold, then chopped.
    Looks like that isn't happening.

    No way they're out of the woods, but this is still the best chance of more BlackBerry products, and also, Heins getting screwed is a fantastic bonus.

    Posted via CB10
    Now let us make a pitch at BBRY for BIS 2.0

    Posted via CB10
    11-04-13 09:08 AM
  12. cary709394's Avatar
    Please bear in your mind that when you intend to lay off thousands of workers, you need to pay them compensation. Therefore, extra cash flow may be needed in this case. And it will not hurt to have more cash in the company's bank account anyway.
    11-04-13 09:09 AM
  13. BBZ10wannabe's Avatar
    Hmmm...funny how BB and others proclaimed that BB was flush with 2.5 billion in cash and that everything was alright but now all of a sudden they need to raise a billion...

    Really does show how rapidly that burn rate is picking up.
    I think part of that billion is to buy Prem Watsa's way back onto the board. They will also use it finish stabilizing the ship. I can imagine a large downsizing of office space and assets. Cutting loose some suppliers and paying out break fees to get the company to a new "normal" that can be more sustainable.
    11-04-13 09:10 AM
  14. Geeoff's Avatar
    I'm surprised, and disappointed because I bought some stock recently. As well, it concerns me that none of the big players were interested enough to buy Blackberry for cheap.

    BUT...... if they can hold only for a few more years, they could be a strong niche player, and even make a play for third spot down the road. The BB OS is slowly coming together, but still needs a year or two to become more refined. Once the OS is mature then they need a TRUE high-end device with a top-of-the-line camera and large battery. Additionally, they need a TRUE low-end device for emerging markets. They don't have to dumb it down too much, but the low-end device needs to be very affordable ($100-$200). This will increase their sales numbers and start to build a user base for the future.

    The big question is whether they can hang on for the next three years. And I don't have an answer for that.
    11-04-13 09:10 AM
  15. thatplaybookguy's Avatar
    I guess Thor doesn't get that parachute now.
    Thanks be to jebus on that one. I dont thin k he deserved to make $50 million on departure. its his half brained ideas that got us here in the first place.
    kbz1960 likes this.
    11-04-13 09:16 AM
  16. eduardofontes's Avatar
    I don't understand how a $3 bi cashed company with no debts would be sold by $4 bi. The math is just non-sense. Can anyone explain me that?
    co4nd likes this.
    11-04-13 09:16 AM
  17. jackpots's Avatar
    It is about time. I have been the isolated voice in the wilderness. Blackberry's problem was never execution, per se, it's staff was effective. The grossly overlooked problem was management and principly vision and direction. Mr. Heins and some of the others should have been let go at least 2 years ago. So step one is done, step two is to get some competence. And from outside the company.

    As for the market, gamble and buy. However, this probably shows that some board members should resign as well. Unless, unless someone expects an upswing and wants to cash in by buying more stocks at the bottom. But, hey...I'm a cynic.
    11-04-13 09:16 AM
  18. thatplaybookguy's Avatar
    They should hire Kevin for the new CEO Position.
    litigante likes this.
    11-04-13 09:17 AM
  19. Bold_until_Hybrid_Comes's Avatar
    At the rate they are bleeding chips $1 billion won't keep them a float long.
    richardat and eduardofontes like this.
    11-04-13 09:18 AM
  20. ElGusta's Avatar
    Pretty much. People are trying to spin these developments as positive ones are ignoring how dire the situation is turning. A situation the company itself recognizes or else it wouldn't have put itself up for sale to begin with.
    +1 It's very comical.
    11-04-13 09:23 AM
  21. Chicago777Guy's Avatar
    Delighted with the change

    Posted via CB10
    11-04-13 09:24 AM
  22. nabil114's Avatar
    First of many surprises IMO. Heins out is a good move. He talked the talk, but never walked the walk. We need positive actions. There is plenty of life in BlackBerry; but you have to get the blood-suckers out before they drain it dry.
    I think Heins leaving. It is end of the past. Prem Watsa does not believe in Mike.
    11-04-13 09:26 AM
  23. WZFoster's Avatar
    Well, investors don't seem too happy. As of now the company is only worth 3.4 billion. I hope the cerberus, lazaridis, qualcomm consortium makes a hostile bid for the company.

    Posted via CB10
    11-04-13 09:26 AM
  24. Fr3lncr's Avatar
    Wow... great way to start the day. So happy TH is finally out. Just hope to God things don't get worse. Would be great to see BB actually execute properly for a change.
    11-04-13 09:27 AM
  25. Cashgap's Avatar
    I don't understand how a $3 bi cashed company with no debts would be sold by $4 bi. The math is just non-sense. Can anyone explain me that?
    It means the market thinks that the company will burn through much of the cash before it can be freed. Losses, termination expenses, etc.
    11-04-13 09:27 AM
239 1234 ...

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