“A company filing with the Securities and Exchange Commission late Friday [notifies] investors that Michael Abbott, senior vice president of software and a key representative before developers, is leaving the company,” Krazit reports. “In a separate but definitely related statement, Palm said it has given senior executives incentives to remain with the company for two years, including $250,000 in cash for its chief financial officer and senior vice president of global operations.”
Krazit reports, “It’s looking more and more like Palm is getting ready for big changes following a devastating earnings report last month. Earlier this week, reports surfaced that the company is shopping itself to potential buyers that include Lenovo, HTC, and Huawei, among others.”
Full article here.
MacDailyNews Take: What we wrote nearly 15 months ago, just after beleaguered Palm unveiled their Palm Pre and webOS: Palm’s Pre dog and pony show is nothing more than takeover bait. They simply do not have the resources necessary to create another mobile platform, especially one that is superfluous. If Palm’s Pre is not a ruse, then those responsible are kidding themselves. – MacDailyNews Take, January 21, 2009
Beleaguered Palm, man, I’m gonna miss reading that.
Who’s next? Beleaguered HTC?
LOL @ “Floundering Outfit.”
There is something at Palm that deserves to be around more so than some of the other big names involved. But, such is the right to fail.
Maybe they’ll get another bailout.
In which case, they’ll just die later from poor decision-making.
“especially one that is superfluous”
Are you sure you didn’t mean “ubiquitous” ?
@Jim:
I think MDN must have a macro that takes every instance of “Palm” and auto-replaces it with “beleaguered Palm.” Every… single… time.
Just ribbing you MDN; it’s damned nice to have a
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Keep up the good work!
But Palm is too big to fail.
</sarcasm>
a sinking ship.
But when oh when will we read about beleaguered Microsoft?
“Palm said it has given senior executives incentives to remain with the company for two years, including $250,000 in cash for its chief financial officer and senior vice president of global operations.”
Wow, that’s just wrong on so many levels.
Could you imagine working at Palm and having your boss come up to you and say they want to make sure you’ll stay with them for the next two years? I hope they were wearing appropriate rain gear to protect them from the massive spit takes.
They’re offering $250,000 in cash??? Do they have any idea how many phones they’d need to sell to raise that kind of cash…Do they even know what it would feel like to sell $250K in phones???
But hey, I can kind of understand wanting to reward the top notch talent that got them where they are today!
Would it be wrong for Apple to give management at Microsoft cash for staying there?
@Macslut
It depends when they get the 250,000? Now and they have no reason for still staying on the “Titanic” that is Palm, or Later and there probably will be no money left to honor that pledge.
Lots of those guys have a history of defecting anyway. I wouldn’t have expected any less of them.
Which ever company is considering purchasing Palm for their engineering talent better think hard because there’s no say as to how long these people will stay on board after the purchase.
I think they meant superfluous, in the sense that there are plenty of choices of mobile platform out there already.
@ macslut – Would it be wrong for Apple to give management at Microsoft cash for staying there?
BWAHAHAHAHA!!!! …oh, that’s just too too perfect.
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And as always, a quick visit to PreCentral reveals that the rationalization/spin on Palm’s precarious position continues as before:
http://www.precentral.net/palms-svp-software-and-services-resigns
In an April 9, 2010 Engadget article (http://www.engadget.com/2010/04/09/palms-jon-rubinstein-i-think-we-have-a-better-product-than-dr/) Jon Rubenstein states that Pre could have beaten Droid if their launch dates would have been reversed.
@macslut
That is the funniest thing I read all morning and then actully pictured this taking place and it’s a great theme for a comic strip your a very clever person
@ Jon1
superfluous – unnecessary, esp. through being more than enough
ubiquitous – present, appearing, or found everywhere
I’ve never seen a Palm Pre, or any other WebOS device, supporting the notion that they are NOT ubiquitous.
Since we’re linking to Precentral.net today, here’s an article with a graphic that cannot be missed:
http://www.precentral.net/sale-not-only-option-palm-exploring-licensing-fundraising-cisco-potential-buyer
Ignored the article, loved the illustration!
MDN: You need to add that one to your collection!
Why isn’t MDN covering the ‘found’ iPhone HD??? WTF? I have to read this on electronista/engadget/gizmodo, but MDN is ignoring what is the first real evidence of completely redesigned iPhone???
Hurray! More Americans will be out of work! Let’s all celebrate this wonderful event with MDN!
Why is it that everybody hates Palm?
Dell, I understand. Microsoft, sure. But Palm?
Patiently awaiting same headline, but with Dell’s name.
@ Grifterus
I don’t think everyone “hates Palm.” They’re just some little piss ants who have been prone in the past to running their mouths about Apple.
Like a muscle-flexing midget who strips off his shirt boasting about going to war with a big guy, it’s fun to poke fun back at them now that they are hemorrhaging cash.
It’s particularly funny given that $250,000 is chump-change for retaining top brass nowadays. Like macslut alluded to, it’s all Palm could afford.
Where’s an appropriate place to list a mac collectible? I’ve got a wwdc 2001 jacket for sale on ebay, and I don’t want to spam the wrong place.
I think we tend to hate companies with obnoxiously ant-Apple CEO’s more. Rubenstein, an Apple defector, also insisted on playing t5he cat-and-mouse game with iTunes. I feel sorry for Palm, but mostly for an industry that consistently involves stealing others’ ideas. True, Apple takes a sad song and makes it better, but also recreates it in the process. Google, Dell, and Microsoft simply steal. And the press never mentions this. So we have to. Then, when they fail- they’re worthy of the “beleagured” designation.
Bad management will get their gold parachutes and
move on elsewhere while leaving stock holders and
workers on the chopping block.