Print 14 comment(s) - last by Moishe.. on Apr 22 at 11:17 AM

A Palm executive and longtime retailer leave Palm behind in search of brighter futures

The financial and structural problems for Palm continue to pile up with no apparent viable outcome other than selling the company.

Palm started the week already under constant pressure, but it got worse when it was disclosed Michael Abbott, Palm Vice President of Software and Services, abandoned the company as Palm admitted it may be more difficult to find a new buyer than previously expected.

"We are concerned by the departure of Mr. Abbott, as he had principal responsibility for Palm's WebOS software, one of the company's few remaining assets," noted Lawrence Harris, CL King & Associates analyst, when speaking with

Abbott is expected to officially leave the company by the end of the week, though it's unsure if he'll be replaced.

The double whammy caused Palm's stock to slide a further 13 percent, as Abbott was the person responsible for helping lead development of Palm's webOS.

Palm has released the Pre and Pixi over the past year, but still hasn't been able to compete with Apple, Research In Motion, HTC, and other competitors.  The appeal for webOS is a driving force behind rumors of HTC and one or two other companies possibly buying the company.

If that wasn't enough, Palm also said RadioShack -- which is suffering its own financial issues -- also will leave behind the Pre and Pixi phones.  Sprint will instead offer a new RIM BlackBerry as the No. 3 wireless provider continues to battle against AT&T and Verizon Wireless.

Palm's financial woes have been well discussed in the past, and there are piles of unsold Pre and Pixi smartphones even though no more phones are being produced.

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RE: I'm no executive
By OBLAMA2009 on 4/20/2010 1:55:37 AM , Rating: 2
they should sell their overstock for a low price, say $150 to people who arent in an upgrade period just to get some market shre/momentum. i already have blackberry but id pay 150 for a pre just to try it out. if its good maybe id like it and get pre2

RE: I'm no executive
By OBLAMA2009 on 4/20/2010 2:01:26 AM , Rating: 2
they might as well do this. at this point, the hardware they have isnt competitive with what other companies have or are coming out with soon

RE: I'm no executive
By Wolfgangap on 4/20/2010 10:53:28 AM , Rating: 1
I recently lost my iphone and would have to pay $400 to replace it (my contract is up in July and then I can get a new one for $99). Instead, I bought an ATT Go phone for $30 and plan on just waiting for the new Win7 phones (I like Silverlight and .net development).

But if I could just buy a Pre for $150 I would certainly do that.

RE: I'm no executive
By guacamojo on 4/20/2010 4:29:57 PM , Rating: 2
Verizon is having a fire sale on its Pre's. $49 for the Pre, and Verizon will even let you out of your existing contract to do it. ("upgrade event")

It even qualifies for BOGO, so if you want two, it's a pretty good deal.

I'm getting one for my wife this weekend.

Maybe AT&T is doing something similar?

"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation
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