Palm staying afloat until Pre release thanks to stocks

Palm staying afloat until Pre release thanks to stocks
Only the strong shall survive in this gloomy economy and it looks like Palm is going to do everything it can to stay afloat until the release of the Pre. Companies cannot continue their operating efforts without a solid flow of capital to sustain the business. In an attempt to gain more capital before it comes out, Palm is exercising its right to remarket shares held by private equity firm Elevation Partners. It looks like 18.5 million shares of its common stock, worth $105 million, will be remarketed to help pay off $49 million they owe Elevation Partners. Once that is taken care of, any net proceeds will go directly to strengthen Palm’s capital position for the inevitable launch of the Pre. It’s do or die now for the pioneering company that is looking to their new smart phone and platform to bring them back to the top. This move clearly signifies the importance of the survival of the company.

via: Mobileburn

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5 Comments

1. secondcor517

Posts: 94; Member since: Oct 06, 2008

Its funny. I don't see Palm, Motorola, or any of the other mobile phone companies going to the Government with their hands out, like the car companies... I wonder why no one is crying on Capitol Hill for them...

2. heavybreathing

Posts: 276; Member since: Feb 26, 2009

Because the phone companies don't make money for the republican oil company owners, and they know they won't get any handouts from the government because of that.

3. secondcor517

Posts: 94; Member since: Oct 06, 2008

I'm pretty sure it was the Democrats who were behind the handouts.

4. stuntz

Posts: 178; Member since: Dec 19, 2008

republican oil company "owners" made so much off the Big 3, now the Big 3 is looking for a handout, from the goverment, regardless of its republicans or democrats.

5. jskrenes

Posts: 209; Member since: Dec 11, 2008

Funny, I thought it was the Dems that owed the Unions.

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