1. Shlooky's Avatar
    BlackBerrys aren’t cars: Jim Flaherty rules out RIM aid - The Globe and Mail

    Ottawa won't help RIM
    The Canadian government rushed to the aid of the auto industry at the height of the crisis, but it's ruling out helping Research In Motion Ltd. (RIM-T10.57-0.09-0.84%)

    That's not to suggest that RIM is going to need Ottawa's help amid its mounting troubles - and it doesn't appear to have asked for any - only that Finance Minister Jim Flaherty is already saying no, when asked.

    "It has been a leading company for Canada in terms of research development and innovation, but it does need to reorganize itself, and thats something that we expect the leaders in the company to do on their own," Mr. Flaherty told reporters today, according to Bloomberg News.

    Mr. Flaherty's comments come as RIM's fortunes decline. Earlier this week, the BlackBerry maker warned it expects to post an operating loss in its first quarter, and that there will be troubles for several more quarters after that.

    Big layoffs are also expected.

    RIM also hired JPMorgan Chase & Co. and RBC Dominion Securities to help plot the way forward.
    As expected, RIM is on it's own.
    05-31-12 09:59 AM
  2. Sucroid's Avatar
    I wonder how many politicians use blackberry.
    05-31-12 10:01 AM
  3. BaconMunch's Avatar
    I love how the media is coupling RIM's first quater operating loss with the heavy layoffs. I don't believe at all that one is directly a result of the first.

    I think the layoffs are long overdue as RIM goes lean, reduce excess weight and duplication in tasks...if they didn't eventually get to this, the company would still be too bloated and inefficient as history has told us.
    05-31-12 10:06 AM
  4. highos's Avatar
    Well, that's it. Globe & Mail is on my list of stupid sites not to read ever again. They have been repeat-ably posting ridiculous articles about RIM just as The Star and BGR have in the past. I'm done wasting my time with them.
    05-31-12 10:44 AM
  5. adrenaline_x's Avatar
    OMG..

    Reread what Flaherty said. He expects RIM to reorganize on their own.

    No mention of blocking a sale of the company. No mention of long term loans. No mention of anything about what the title of the articles says.

    I suspect that if needed, Flarety would float them a long term loan if it meant keeping 5000 plus jobs in the Waterloo area.
    anon(3896606) likes this.
    05-31-12 11:08 AM
  6. Superfly_FR's Avatar
    Agree with adrenaline_X.
    Read it as "they don't need to" if you're getting nervous.
    05-31-12 11:11 AM
  7. BBA Brian's Avatar
    Everyone must please re read all comments from Jim Flaherty with regards to blocking a RIM sale and/or bailing out RIM by giving them cash.

    He has ONLY continually suggested that RIM needs to take care of itself. He has never directly said yes or no to any questions related to the above 2 issues.

    The Canadian government will not definitively say yes or no to either issues until it formally has to because they need to act on one of the two options.

    I agree with this strategy. They must not give RIM any opportunity to take the pedal off the metal by making them think the Canadian Government will bail them out.

    We will never know 100% what the Canadian government will or will not do.. until they have to act. At this point, they are far far far from having to act.
    anon(3896606) and Shlooky like this.
    05-31-12 01:03 PM
  8. marksthespot60's Avatar
    Kind of ironic considering that it's embedded in a great number of cars.
    BlackStormRising likes this.
    05-31-12 08:30 PM
  9. Dapper37's Avatar
    2.1 Billion in the bank= no bail out needed. BB10 is needed and fast!
    Props goes out to all the RIM employees that have to suffer are need, to drag you through the mud until your work is done.
    hpjrt likes this.
    05-31-12 08:48 PM
  10. CrackMachine's Avatar
    Everyone must please re read all comments from Jim Flaherty with regards to blocking a RIM sale and/or bailing out RIM by giving them cash.

    He has ONLY continually suggested that RIM needs to take care of itself. He has never directly said yes or no to any questions related to the above 2 issues.

    The Canadian government will not definitively say yes or no to either issues until it formally has to because they need to act on one of the two options.

    I agree with this strategy. They must not give RIM any opportunity to take the pedal off the metal by making them think the Canadian Government will bail them out.

    We will never know 100% what the Canadian government will or will not do.. until they have to act. At this point, they are far far far from having to act.
    That being said, having a Finance Minister from Ontario, should be a help for the province, however all Flaherty seems to want to do is pick fights with the Premier to divert attention from the Feds poor economic record for the province.
    06-01-12 07:02 PM
  11. Frank Castle's Avatar
    This is something I've actually been thinking about for awhile now.

    Is RIM to big to fail?

    Before you scoff at the idea consider Blackberry is used by pretty much every major company on the planet (some large companies have thousands of devices in use) every goverment heavily uses Blackberry. Senate, Congress, FBI, Military etc not to mention other country goverments where RIM is the only approved mobile device.

    So play through the stock side of this and the market driving down the stock price RIM may dissolve / be bought but Blackberry will live on for years. Anyone who buys Blackberry will need to figure out how to deal with 75+ million users that actively use these devices every day, many for critical communication needs.

    Earlier this year we took a look at the cost of switch all employees to say an iPhone and the licensing needed for Good Technology and it almost gave our CIO a stroke, we're no where near a large Blackberry shop but it's siginificant enough to cause concern.

    RIM could become a tighter partner with others in the industry. This whole nonsense that every single company is going to be a player in mobile is comical. Cisco, intel, Dell etc they don't know anything about mobile device, technology. RIM is looking for partnerships and if some of these other companies looked themselves in the mirror and admited they couldn't do this all themselves but collectively could become something amazing.
    06-02-12 06:25 AM
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