11-11-13 10:43 AM
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  1. qwerty4ever's Avatar
    This review of Thorsten Heins' legacy as CEO is scathing. Even though the journalist tried extremely hard to appear balanced by trying desperately to find something even remotely positive to say about Thorsten Heins, they aren't able to do so convincingly.

    The legacy of Thorsten Heins: How he went wrong at BlackBerry - The Globe and Mail

    I would agree that Thorsten Heins has been a disastrous CEO. The fact that he stands to make $16 -$22 million in severance and other payments is pretty bizarre but I don't fault him for that, I fault the board for that. Prem Watsa negotiated this oversized severance package for Mr Heins. BBRY shareholders should be outraged.

    I think the cover of Canadian Business magazine is quite telling:

    Attachment 217475
    Prem and Thorsten colluded all along and now Prem seizes control of BlackBerry without spending a twentieth of the bid price. Criminals all.

    Posted via CB10 from the BlackBerry Z10
    oilgeo10 likes this.
    11-04-13 05:34 PM
  2. BBerryPowerUser's Avatar
    Prem and Thorsten colluded all along and now Prem seizes control of BlackBerry without spending a twentieth of the bid price. Criminals all.

    Posted via CB10 from the BlackBerry Z10
    Perhaps.

    More to the point;
    You have aptly described white-collar crime at the highest level. It's done every day. Gordon Gecko still lives out there. It's a win-some game at that level. Somebody wins big, and the rest lose. I'm not sure what Canadian law allows, but here in the U.S., a corporate raid would be highly probably with the company in the state of play that it is now.
    11-04-13 05:52 PM
  3. Pete The Penguin's Avatar
    Might be best to stop hanging on every word uttered by the new CEO.
    Crackberrians were hanging on to every word of Jim and Mike. "Amateur hour is over"
    Webos fans were hanging on every word of Leo. "It's a marathon not a race"
    Crackberrians were hanging on every word of Thor. "Nothing wrong with the company as exist right now."
    Wonder if feels that way now.
    Summation: Don't listen to the mouthpiece, watch the results.
    I've been watching the results for months, it's going to get worse before it gets better. IF it gets better...
    11-04-13 05:56 PM
  4. Pete The Penguin's Avatar
    The Board of Directors should have been removed as well in my opinion.
    It's the shareholders to blame there, we never voted the BOD. Can't blame TH for that.
    11-04-13 05:59 PM
  5. nabil114's Avatar
    They still have programming issues. John Chen is a software guy. He might change that. They do not do much in terms of hardware innovation.
    11-04-13 06:00 PM
  6. milo53's Avatar
    I agree 100%. BOD caused this with the hiring of unqualified personal. Sad story for sure.

    BlackBerry-Fairfax deal dies; Thorsten Heins out-image.jpg
    lakes76 likes this.
    11-04-13 06:07 PM
  7. Pete The Penguin's Avatar
    Perhaps.

    More to the point;
    You have aptly described white-collar crime at the highest level. It's done every day. Gordon Gecko still lives out there. It's a win-some game at that level. Somebody wins big, and the rest lose. I'm not sure what Canadian law allows, but here in the U.S., a corporate raid would be highly probably with the company in the state of play that it is now.
    The Canadian Gov't don't care. If they did, they'd do more to help save BlackBerry. Even the incompetent British Gov't bailed out failing banks.
    11-04-13 06:13 PM
  8. DenverRalphy's Avatar
    He will be bring new and talented people into BlackBerry, as he said.

    Thats what they need.
    That exact sentiment was used when TH got the job.

    It will take a few years to even start climbing back up in market share.
    Sadly, BBRY doesn't have that long.


    SwiftKeyed/Flowed via Tapatalk 4 Beta
    11-04-13 06:34 PM
  9. xanadome's Avatar
    It's the shareholders to blame there, we never voted the BOD. Can't blame TH for that.
    As former executives exit the company over a few years, it was Heins, who placed his favourites around him, mostly from Europe, who probably did not quite on par with the North american biz environment. Even his suicide partner Vivek (was his name?) was from Siemens. When the marketing boss, Frank the Boulben, was sitting and doing nothing (obviously), it was probably convenient for Heins.

    Any new blood would be far better than the current inept group of people.
    Sorry for my arm chair CEO views, but certain things have been too obvious to everybody.

    At least one large snag is now removed. It should not go any worse anyway.
    If John Chen, or someone equivalent was elected instead of Heins, I am sure things would have been much better now.
    milo53 likes this.
    11-04-13 06:40 PM
  10. daikku's Avatar
    Wonder what's the future for BBRY now that the deal is dead. Can the company really operate productively by itself?
    11-04-13 06:44 PM
  11. sportline's Avatar
    Jon rubinstein
    Leo apotheker
    Thorsten heins

    John chen? Doesn't quite rhyme

    Jakarta, Indonesia
    11-04-13 06:46 PM
  12. STV0726's Avatar
    I never said a piece-off sale wasn't a definite possibility...

    I just am frankly a bit sick of self-proclaimed experts coming in here writing as if they have 100% certainty without even citing one source.

    -STV on Z10STL100-3/10.1.0.4780 TMO US
    11-04-13 07:28 PM
  13. Orange UK's Avatar
    The bean is truly baked! WHOOP! Tactical error 1 resolved

    So thats 3.5 billion in the bank, how many millions of warehoused Z10's do we need to flood Europe with cheaply to make a small profit & with loads of BB10BIS $ubscription$ for xmas to move forward and of course Z30 at premium pricing, along with Q5/10 for businesses.

    This is best news ever to come out of the thorn in the side BlackBerry, he's gone. 30mil is a cheap price for a **** sucker(must be the Siemens connection) as well he was hopeless at anything so got where he was not on merit, bet he was successful with dangle berries, LOL.


    I'd like to quote...
    11-04-13 07:40 PM
  14. BBerryPowerUser's Avatar
    I only wish I had sold 1,000 shares of Blackberry SHORT of the market a few days ago!
    11-04-13 07:45 PM
  15. Bobert_123's Avatar
    Not gonna lie, I'm going to miss Thor.
    11-04-13 08:00 PM
  16. scribacco's Avatar
    I only wish I had sold 1,000 shares of Blackberry SHORT of the market a few days ago!
    you still have time..as soon as they report next quarter the stock will go to $2-3
    flyingsolid and boi2012 like this.
    11-04-13 08:02 PM
  17. qwerty4ever's Avatar
    Perhaps.

    More to the point;
    You have aptly described white-collar crime at the highest level. It's done every day.
    I'm aware of white-collar crime. I worked in the financial industry monitoring transactions to prevent money laundering.

    Posted via CB10 from the BlackBerry Z10
    11-04-13 08:02 PM
  18. Cashgap's Avatar
    I can stream audio and video using built-in and third-party BlackBerry 10 applications. I can securely connect to remote servers and desktop computers using a couple BlackBerry 10 applications. I can read ebooks and portable document format documents. I can prepare LaTeX documents via a cloud service using the BlackBerry 10 web browser. I can analyse data via a cloud service using the BlackBerry 10 web browser. Plus a variety of other tasks which I don't have time to enumerate.
    Any current smartphones that cannot perform these functions?

    These are table stakes, not advantages.

    Might was well say "Included AC adapter/charger, available mobile adapter/charger, coaxial jack for earbuds with microphone and control, user controlled volume settings, DTMF tone generator for on-line banking...".
    trwrt, mikeo007, chr1sny and 4 others like this.
    11-04-13 08:03 PM
  19. Cashgap's Avatar
    Prem and Thorsten colluded all along and now Prem seizes control of BlackBerry without spending a twentieth of the bid price. Criminals all.
    Perhaps.

    More to the point;
    You have aptly described white-collar crime at the highest level.
    Nope. Remember, not everything you don't like or don't understand is bad. The only marginally ethical actions went the other direction... expressing confidence when insider information surely showed that the optimism was unfounded.

    At the end of the game, if Prem's last ten plays on this stock are any indication... he overpaid today. He liked it at $50 and loves it at $7, can you imagine how he'll feel about it at $4.

    Don't believe it's headed for $4? Reread every argument made when $40, $30, $25, $20, $15, $10, $9, $8 and $7 were accurately predicted. Now tell me what's changed for the better.
    11-04-13 08:09 PM
  20. CairnsRock's Avatar
    Nope. Remember, not everything you don't like or don't understand is bad. The only marginally ethical actions went the other direction... expressing confidence when insider information surely showed that the optimism was unfounded.

    At the end of the game, if Prem's last ten plays on this stock are any indication... he overpaid today. He liked it at $50 and loves it at $7, can you imagine how he'll feel about it at $4.

    Don't believe it's headed for $4? Reread every argument made when $40, $30, $25, $20, $15, $10, $9, $8 and $7 were accurately predicted. Now tell me what's changed for the better.
    You have to admire his agility, jumping back and forth from each side of the deal. There will be no peace until he gets his money back.
    app_Developer likes this.
    11-04-13 08:27 PM
  21. Pete The Penguin's Avatar
    As former executives exit the company over a few years, it was Heins, who placed his favourites around him, mostly from Europe, who probably did not quite on par with the North american biz environment. Even his suicide partner Vivek (was his name?) was from Siemens. When the marketing boss, Frank the Boulben, was sitting and doing nothing (obviously), it was probably convenient for Heins.

    Any new blood would be far better than the current inept group of people.
    Sorry for my arm chair CEO views, but certain things have been too obvious to everybody.

    At least one large snag is now removed. It should not go any worse anyway.
    If John Chen, or someone equivalent was elected instead of Heins, I am sure things would have been much better now.
    Well, we'll never know.

    I find it interesting that Sybase (who Chen turned around) was sold to SAP, SAP looked at buying BlackBerry (or parts). Chen works at SilverLake who were going in as a Private Equity Partner.

    TH said he could 'turn around BlackBerry' - where's the evidence?
    11-04-13 08:30 PM
  22. Phi Nguyen's Avatar
    BS bro!
    all layoff will cost less than 500 million USD. but hey, they are sitting on 2.5 b pile of cash...
    no they were siting on 2.5billion after the staggering losses due to 1b unsold phones in write downs

    the 400m payout to former employees would've been after the quarterly results they cant declare the charge until they actually pay it out

    so they are saiting only on 2.1b not including any future write downs

    keep in mind they already filed a SEC filing saying they were having trouble selling q10s and i'd imagine z30 is not going to sell well
    11-04-13 08:55 PM
  23. Jack_Yugis's Avatar
    I think BBRY never die
    11-04-13 09:53 PM
  24. mset's Avatar
    There must be more inventory to write off. They have not addressed the Q5, Q10 or Z30 inventory. Nor what is in the supply chain.

    Is the $1B loan to cover remaining inventory?
    I really doubt this. If you mean 'cover' in the notional sense - to be able to say that cash on hand is the same as it would be after a hypothetical write-down, maybe. But would they really take on a liability like that just to be able to say their cash is at xx level? Maybe, but wouldn't they just write the phones down like they did the Z10?

    I'd love to know who bought the remaining $750MM in convertibles that Prem didn't take. To me, there's something weird about this. This isn't a bond issue like any other firm would do. Who buys a seat on a sinking ship, even if you're promised future trips on the same line? There must be some aspect of the ability to convert these shares that's beyond my non-existent accounting chops.
    11-04-13 10:28 PM
  25. xandermac's Avatar
    I doubt fairfax will be able to drum up enough interest to even raise the $1bn. They are fronting $250mil so $750mil to raise. It'll be a tough sell to investors.


    Twitter: xandermac
    11-04-13 10:44 PM
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