RIM CEO: “nothing wrong with the company as it exists right now”

3. Stoli89 posted on 03 Jul 2012, 10:10 6 0

...or maybe he's simply trying to put a straight face on the situation while he is negotiating a price with another party? Clearly, it's in the CEO's interest not to shoot himself in both feet.

6. MikeG77 posted on 03 Jul 2012, 11:02 0 0

So lets see items 1-5 are occurring and he makes statements like "There’s nothing wrong with the company as it exists right now" but he still thinks there is nothing wrong??!!

15. SuperAndroidEvo posted on 03 Jul 2012, 12:45 0 0

You know, this has to be the best picture ever on PhoneArena.com.

Captain Jean-Luc Picard pulled out his very last hair. lol

I guess that is what RIM is doing to a lot of people!

22. PAPINYC (limited) 2 days ago posted on 03 Jul 2012, 19:11 0 0

Actually, if you look closer you'll see that it's Steve Ballmer; there's no mistaking the glare from that angle.

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20. 14545 posted on 03 Jul 2012, 18:20 0 0

This is the way I see it. He's trying to put on a poker face for restructuring, buyout, or whatever other reason. Also, we don't know what they have turned around internally that he may be speaking up. He specifically said "not six months ago, but *today*". That is the key to that whole statement.

23. MikeG77 posted on 03 Jul 2012, 19:16 0 0

Well obviously me and the shareholders see it one way and you see it the opposite.

The Playbook was a huge fail, they haven't released a compelling product in years, executives keep leaving the company and the stock has dropped from $17.57 6 months ago to a low of $7.35.
Look at the Q1 losses of $518 million, Q2 losses, BB 10 delayed till 6 months past is original launch and a 42% drop in stock. If that's what he defines as the company being in a good position then I would hate to what he defines as struggling.

Now that being said I hope they bounce back and become successful but I feel that Jim and Mike did too much damage.

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25. 14545 posted on 03 Jul 2012, 19:43 0 0

You are not reading my comment. I never said the company was doing well. I said I "see" why he is saying what he is. It's his job to try and reassure the investors. If he got on the radio and said "nope, we don't have a plan, and it's doubtful that we can turn this around", he would be fired in less than 24 hours. That's my point.

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29. MikeG77 posted on 03 Jul 2012, 23:02 0 0

No I know what you meant by understanding his perspective but in light of all that's happened I can't believe he thinks that he can make such BS statements and not get ripped into.

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8. jaytai0106 posted on 03 Jul 2012, 11:23 0 0

Yup, nothing is wrong with the company

9. kunyuk posted on 03 Jul 2012, 11:32 3 0

6. Over priced product
7. Low spec product

11. mafiaprinc3 posted on 03 Jul 2012, 11:53 0 0

he is living in a dreamworld,

30. speckledapple posted on 04 Jul 2012, 10:36 0 0

I think he has already made some sweeping changes with the removal voluntary or otherwise of key people in positions that could fog up progress. Beyond that, with a company as intrenched as RIM, it will take more than just six simple months to turn the ship around. Which is why I am happy that Heins made the effort to deplay BB10, yes it is even later but what was produced must have been a half product, which they cannot afford to put out anymore (i.e. playbook).

21. 14545 posted on 03 Jul 2012, 18:22 1 0

Exactly. He phrases it in the way that "things are looking up" but they were "bad" at one point. You can't really expect him to do anything else. It's his job to sell the investors that they are still investing in a sound company. People need to read the whole statement.

24. MikeG77 posted on 03 Jul 2012, 19:21 0 0

14545 if you look at his history with RIM you'll see why he was a poor selection for CEO. He was in charge of marketing and handset sales....the #'s dropped in his division and he is dropping them further as CEO....

I think we all read the entire statement but everyone is suprised by the comment that nothing is wrong!

Things went from "bad" to "worse"

26. 14545 posted on 03 Jul 2012, 19:45 0 0

You are probably right, i'm just saying that he has to say these things. It's what he is paid to do. He can't come out and say what you did, or he would lose the job he is already barely hanging on to.

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19. MikeG77 posted on 03 Jul 2012, 17:06 0 0

slaggyb im glad your loyal to your Blackberry and not going to jump ship but there are a lot us BB users who are looking at other OS's to use. You are correct a lot of people outside of the US use Blackberries but you have to admit that RIM is losing market share and not just in the US.

Wether it happens in 2013 or not doesn't really matter. RIM is not generating enough revenue and does not have enough cash on hand to cover all there operating expenses and losses.