“Research in Motion’s two CEOs have to go,” Larry Dignan writes for ZDNet. “The company has lost investor—and increasingly customer—confidence over the last year, its latest greatest savior OS is behind schedule, the PlayBook is a disaster and RIM could be circling the porcelain rim if it isn’t careful.”
MacDailyNews Take: “Could be?” How charitable.
“Nevertheless, RIM carries on with its current management. Co-CEOs James Balsillie and Mike Lazaridis are taking $1 in salary a year,” Dignan writes. “This token gesture inspires instant cynicism. The two may only be worth $1 a year at this point. You get what you pay for.”
Dignan writes, “RIM’s earnings conference call after a disappointing fourth quarter outlook was another romp through bizarro world. In this world, RIM is always on the cusp of a massive transformation and a product home run. If you’ve been paying attention you already know the punchline. RIM strikes out more than the Phillies’ Ryan Howard in a playoff series.”
Full article, complete with Dignan’s translations of beleaguered RIM’s half-CEOs conference call utterances, here.
MacDailyNews Take: You read it here first:
RIM is a dead company walking. – MacDailyNews Take, August 23, 2010
If you got out of RIMM then and there ($47.75 at close), you’d have $34.48 more per share than if you exited right now ($13.27).
[Thanks to MacDailyNews Readers “GetMeOnTop” and “trevorteusc” for the heads up.]
Related articles:
Beleaguered RIM’s earnings fall 71% amid weak sales – December 16, 2011
Beleaguered RIM misses on revenue, issues grim guidance, stock drops again – December 15, 2011
Citi on beleaguered RIM: ‘It’s worse than you think’ – December 2, 2011
Beleaguered RIM misses its revenue forecast; takes $360 million bath to clear unsold PlayBooks; shares plummet – December 2, 2011
Apple ousts beleaguered RIM’s BlackBerry as top business smartphone – November 16, 2011
Beleaguered Sony shares sink on massive loss forecast – November 2, 2011
Beleaguered RIM’s U.S. sales cut in half last quarter as consumers abandoned BlackBerry for Apple iPhone – September 20, 2011
Apple’s iPhone 4 absolutely slaughtered beleaguered RIM’s Blackberry – September 16, 2011
Beleaguered RIM hemorrhaging market share faster than some analysts expected – September 16, 2011
Proves the old adage that “Two heads are better than one” very wrong. Guess it depends on the heads.
Two heads are always better than one”…only if Heads are above shoulder,,,,,If they are below their ankles…what do you expect!
Here’s what I said March 28, 2011…
“Of course that might not help but, it helped before! It is only after the company could not match the competition that people starts pointing fingers.
Reallity is…. It is not about the number of CEOs or COOs but about the capability of those people. It doesn’t matter how many CEOs a company puts/has in place, it could be only one and still be a complete failure. Want some examples? Ask Bill Gates, Motorola Mobility, or Larry Page. Just to mention a few “contemporary” ones.
Interesting, right?
For those hard of hearing…..
Bill Gates put Steve Ballmer.
Someone, don’t know who, put Sanjay Jha.
Larry Page put Eric Schmidt.”
Interesting. I don’t know what RIM could do now. They’re getting to be the next Kodak. I guess if I ran the show I’d try to sell. Their software security services and old customer base could be worth something.
Let the two knuckleheads stay. If they get fired, they get millions and millions of parachute pay which will cause more real workers to get fired. At least this way, the workers has time to find a new job while the two knuckleheads plow on ass backwards to oblivion. Another suggestions for CEO’s Ding & Dong is to go ahead and build more crappy Playbook…build millions of them and ship it!
At $1 EACH per year, their salary is 200% what Steve Jobs collected annually.
They’re STILL overpaid!
Reduction In Management?
“There’s tremendous turbulence in the ecosystem, of course, in mobility. And that’s sort of an obvious thing, but also there is tremendous architectural contention at play. And I’m going to really frame our mobile architectural distinction. We’ve taken two fundamentally different approaches in their causalness. It’s a causal difference, not just nuance. It’s not just a causal direction that I’m going to really articulate here — and feel free to go as deep as you want — it’s really as fundamental as casualness.”
— Jim Balsillie, co-CEO, RIM quoted in Business Weak [pun intended]
I read that and it translated as = He’s full of sh*t! LOL
Spoken a year ago! My, how time flies! And still incoherent!
I left a comment on ZDNet for the Droid fans who were crowing about the fading iPod sales:
@adornoe@… “…the iPod is fading.” Because the iPhone contains all of its functionality, as does the iPod touch.
Android overtaking iOS? How many Android devices are GIVEN away every day? Even so, Android is losing ground lately. Android was doing well against the iPhone 4 last quarter while everyone waited for the iPhone 4S (or 5). Let’s see what happens this quarter.
Apple fan? Of course. I have expectations of Apple products that are rarely contradicted. I’ve been running a half dozen Macs on the net without AV software for over 10 years without a single problem. I trust that my iPhone or other Apple device is secure, durable, and will work intuitively, the way I expect it to. Rarely is that ever NOT the case. Why would I trust my financial information, my network security, and my personal information to people who sell such information for a living, and who care nothing about me except extracting as much money as they can from my use of their products in the shortest possible time frame?
Hacking my computers and phones to get them to work the way I want them to ceased to be interesting to me years ago. It’s not worth the effort when I can buy an Apple product and have that functionality out of the box. My experience with Android fans is that they are generally members of that set of users who pride themselves on being able to wield esoteric and obscure knowledge in order to get something, an OS, an application, a device, for free. Sorry, my status and self-image doesn’t hinge on that kind of geekery anymore.
+∞!
Well penned—er, typed. Operative word at end, “anymore”.
Some things, the more you understand the more you loathe them – Robert A. Heinlein
“RIM strikes out more than the Phillies’ Ryan Howard in a playoff series.”
Ouch!
They’re paying $2 a year?!?!?
Time to fire one of them and save a buck!
The other can stay “for as long as it takes”. 😉