“U2 frontman Bono is set to book a loss of $140m (£92m) after Palm announced a $1.2bn deal to sell itself to personal computer giant Hewlett-Packard,” James Quinn reports for The Telegraph.
MacDailyNews Take: There’s a reason why Bono was recently named the worst investor is the U.S. This is a guy who was flying along aboard Secretariat, but inexplicably jumped off onto a nag bound for the glue factory.
Quinn continues, “Bono’s private equity venture, Elevation Partners, owns an approximate 30pc stake in Palm, having invested $460m in the struggling handset maker in 2007 and 2008. The H-P deal values Palm’s equity at $961m – the rest of the deal price is debt – meaning Elevation’s stake will be worth roughly $320m.”
Full article here.
MacDailyNews Take: Better book some more BlackBerry commercials, Paulie. 
BTW, has anyone ever seen Bono and Robin Williams in the same place at the same time?
Bono is crap.
@Anonymous
Send me your address, I’ll mail you a dictionary so you can look up what money laundering means.
It’s not “laundering” you fool, and I’ve read ALL the details about that. Ireland essentially raised their taxes so they decided to move a majority of their stake to the Netherlands. Big farking deal.
But I’m also sure you’re one of these “government’s hands off my money” MDN Republitard trolls too. It’s OK to b!tch about it when it’s not YOUR money right?
Maybe they know how to better put it to use that the Irish government goes. And I have no doubt you would do the exact same thing if you were in their shoes.
How much more would AC/DC have earned if they’d have allowed iTunes to sell their songs.
AC/DC really rock bur the last meaningful tune U2 made was the one made famous for it’s Vegas video.
That’s robin Williams in the pic. U guys are assholes.
@Macduff, i just yesterday went to get Iron Man II, and realized they still refuse to use iTunes.
STUPID!
I usually DO buy CDs, because I like the quality, but come on…
He’s a documented tax dodger.
His accountants will turn a profit from Palm for him yet.
Good pic of Robin Williams.
Sheesh – give Robin Williams a friggin’ break – he looks as much like Bono as Snoopy looks like Charlie Brown!
What a pompous, self-absorbed asshat. Too bad, so sad.
I guess Palm wasn’t……Pro-Bono!
a ha, a ha, a ha ha haaaaaaaaaa!
but seriuosly that IS Robin Williams.
and Palm is robin’ Bono!!! a ha, a h..(choke)…….oh man I almost hurled.
Haven’t seen the two together but I saw Bono last year with two 19 yr. olds on a beach outside Monaco. He’s not only a dirty old man but pretty stupid $$$ wise.
Is working for Palm a form of Hand Job- a.k.a. Spanking the Monkey, et al?
I guess now that Palm is part of Hewlett-Packard it will be whacking off the H-P way.
Bono-fide Irish idiot! Good luck with that jumping off of Apple’s ship thing!
OMG he looks like Robin Williams coming out of rehab!
How much money would he have made if he had invested in Apple? A ton!
Losing $140M is a whole lot better than losing $460M. And that was a distinct possibility until HP bailed out Palm. Frankly, I think that HP was stupid for multiple reasons, not the least of which is the likelihood that Palm would soon have been facing bankruptcy. Then HP could have picked up the assets for a lot less cash.
@Macromancer
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But I’m also sure you’re one of these “government’s hands off my money” MDN Republitard trolls too. It’s OK to b!tch about it when it’s not YOUR money right?
>
The difference here is that Mono of Use To was on record chiding governments for not spending $ on his pet projects. Well guess where governments get $ ?
Yep you guessed correctly from working people that pay taxes.
Then Mono from Use To had the balls to move his $ to a different location to avoid paying taxes that he wants governments to shell out for his pet projects.
So in his eyes it is ok for the government to TAX THE SHIT OUT OF ME and give my $ away (this is what F.u.c.k Stick preaches) in fact he encourages it, but it is NOT ok to Tax him?
Kind of a dick move, No?
This is why people that work for a living and pay taxes HATE that C-Sucker.
To think that not so long ago, Apple provided a U2 edition iPod!!!!! WTF?!?!
It’s Apple’s fault. If they hadn’t invented the iPhone countless people would be free instead of imprisoned. England would have never repressed the Celtic people. Aliens wouldn’t have experimented on unwilling Humans. Bono would be $140 million richer. Brian, Jesus and Jason would have continued to lust after J. Ives. Why?!!, Why??!!!
Bono is pure trash, Irish trash at that. You don’t know trash – I do, I’m Irish.
@Macromancer
So, how’s that helping-the-poor-thing working out for ya’? Know of anyone–or any country–that is truly better off for all of Bono’s good works? How about Sir Bob Geldof and his Band Aid efforts? Full stomachs all ’round now in Africa?
Truth is, in the short run, Bono and Bob accomplished exactly what they set out to do: Make some headlines and salve their consciences for not being poor and hungry. In the long run, they accomplished absolutely nothing. Much of Ethiopia is still starving, and most of the money raised there went to buying weapons.
Long live the romantic notion that the downtrodden peoples of the world can be saved by the charitable works of their supposed betters. And here’s another kudo to Santa Claus. And to the Easter Bunny. And leprechauns . . . and . . . .
It looks like Robin Williams because it is Robin Williams.
That is Robin Williams photo. That is NOT Bono.
@Uther P. – Right on man.
@Macromancer- Your right. It may not be money laundering but it is hypocrisy
@ron
Shanty Irish, I’d presume.