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Ministers first prepped for a sale in March

In March, as RIM prepared to deliver expected news of a dire quarter of losses, senior aides in the office of Canada's Industry Minister expected that a sale might be in the cards.  According to a new report by Reuters, Industry Minister Christian Paradis and Prime Minister Stephen Harper's Conservative government were prepped by the aides to lay out rules for foreign bidding if RIM called with news of a sale.

Instead, when the call came new CEO Thorsten Heins insisted on sticking to releasing BB10 as a final shot at regaining market relevance, stubbornly refusing to cave in to shareholders and sell the firm.

According to Reuters, had Thorsten Heins asked about a CEO, Minister Paradis would be ready with the canned response, "I examine proposed investments on a case-by-case basis and make my decisions based on the facts and merits of each proposed investment..."

The Minister was advised to only discuss the matter if Mr. Heins broached the topic.

10 RIM shares are today worth the price of one share a year and a half ago.  It would take 20 RIM current shares to equal the worth of a single RIM share from 2008.  In other words, investors who got out on top in 2008 were lucky -- those who stayed have been burned badly.

As RIM continues to fall lower and lower on the sales charts, and with the brand in shambles, many are skeptical that its much-delayed BlackBerry 10 launch will be the salvation CEO Heins is hoping for.

RIMdenberg
The RIMdenburg is still afloat -- for a little bit longer. [Image Source: Jason Mick/DailyTech LLC]

If it's not, RIM's leader may be forced into the option he least wants -- a sale.  If that's the case, the sale will have to be approved by Canada's Industry Minister, per Canadian law.  And it sounds like that's what the Industry Ministry is expecting, as they're already fully prepped for that inevitability.

Source: Reuters



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By dark matter on 8/17/2012 4:32:10 PM , Rating: -1
But you're missing the point that this is a blog, and so it's just Mick's opinions on the matter, and not factual reporting. So the OP is correct in his identification of Mick Trolling. However, I think the standing of the OP leaves a lot to be deserved and the words pot, kettle and black spring to mind.


By Reclaimer77 on 8/17/2012 6:06:08 PM , Rating: 5
"We BB users"? Just today in another article you said you used a Galaxy Note and "sometimes" use your daughters Windows Phone.

You aren't any more of a "BB user" than I am at this point. In fact, I think your whole act is a big sham where you claim to own 4 mobile devices so you can just customize your trolling to any situation.

quote:
when 2013 comes with its BB10 launch.


lol then what? You think the world is waiting with held breath for BB10 or something? Please! Too funny.

You calling Mick a troll is like Hitler calling OJ Simpson a mass murderer.


By Pirks on 8/17/2012 6:44:53 PM , Rating: 1
quote:
You aren't any more of a "BB user" than I am at this point
I enjoy my Playbook while you keep salivating on the side. Keep trollin bro :))) This won't help you to get such a nice tablet anyway


By Lord 666 on 8/17/2012 7:04:11 PM , Rating: 2
Come on, how hard is it to believe he has all of the platforms?

In my household of four people (two being single digit ages); there are four iOS devices (iPhone 4, two touches, and lte ipad), lte ICS phone, BB phone, and one flip phone. All but three are used for business. Come end of September, there will be two new iPhones and a Galaxy 3. But oddly with all that gear, consider myself a BB user as well and writing this using one.

This does not include the two laptops, two desktops, and two macs. All but one are used for business.


By Reclaimer77 on 8/17/2012 7:15:28 PM , Rating: 4
quote:
Come on, how hard is it to believe he has all of the platforms?


How hard is it to believe we landed on the Moon? Huh Lord?


By wordsworm on 8/17/2012 7:27:32 PM , Rating: 2
Everyone knows that the lunar landing was a hoax.


By wordsworm on 8/17/2012 11:19:37 PM , Rating: 3
DT should alternate between hiring you and then Reclaimer to write the RIM stories. Every RIM article has about 100 new words at the top related to the news followed by about 1,000 cut-and-paste crap about why RIM is going to fail.


By SlyNine on 8/18/2012 4:03:45 PM , Rating: 2
If you truly believe that. Your logic is complete fail.

If you're being sarcastic, sorry I missed it.


By SlyNine on 8/18/2012 4:08:01 PM , Rating: 2
Just for the record, I'm just pointing out that analogy is complete nonsensical.


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