Research In Motion (RIMM -1%) edges lower following a downgrade to Underweight from Barclays,...


Research In Motion (RIMM -1%) edges lower following a downgrade to Underweight from Barclays, whose PT is now just $6. The downgrade comes as CEO Thorsten Heins, who appears staunchly opposed to a sale or the opening of RIM's network, tells Canada.com "there's nothing wrong with the company as it exists now." More than a few people seem to disagree.
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Comments (17)
  • frankiethecat
    , contributor
    Comments (36) | Send Message
     
    Heins is an absolute fool. Happy day of reckoning ahead. He may be very very smart, but he can't see the trees for the forest and vice versa. The company is dying right in front of him, the stock price is tanking, enterprise customers are abandoning BES and Blackberrys for other smartphones, and all he can say is there is nothing wrong with RIM ?

     

    What a total jack as---s. Is anyone from Jaguar financial or Fairfield holding taking notice of the clowns running RIM into the ground? Is everyone in a coma?
    3 Jul 2012, 11:48 AM Reply Like
  • Ronin.
    , contributor
    Comments (1556) | Send Message
     
    As time goes on, he's seeming more and more like the twin CEOs. I'm reinitiating my short again... Heins drove RIM into the ditch and thinks he's still on the road...In fact, I am still suspecting that he is sitting on Lazaridis' knee with a hand up his a**
    4 Jul 2012, 12:14 AM Reply Like
  • RealMrBean
    , contributor
    Comments (67) | Send Message
     
    Welcome to the world of cronyism.

     

    Put the guy in charge who has repeatedly fixed the problem of delays and quality (sarcasm!) and hold out for the results:

     

    http://bit.ly/NzmfTn

     

    Enjoy the history of QNX:
    * bought in April 2010 by RIM
    * plans to make QNX the basis for BB7 - turned out mission impossible
    * during 2011 several attempts to port on PlayBook - we know the results
    * summer 2011 - first QNX phone announced for xmas the same year
    * then "delayed to spring / summer 2012"
    * then announced for backend 2012
    * now promised for Q1/2013

     

    => that's 3 years to launch a new OS. Android was launched in 9 months. Does this tell you something?

     

    Who was in charge of products and engineering all that time: the now CEO - still grinning... hehehe
    4 Jul 2012, 03:49 PM Reply Like
  • rashpalraj
    , contributor
    Comments (2) | Send Message
     
    Some heads have to roll in this debacle called RIMM . Stock price has tanked to almost 6 dollars and CEO thinks all the down grades from other analysts is of no consequence . May be he thinks he is smarter than them . He has to take responsibility and should not get any pay till the stock does not rise beyond 10 dollars.
    3 Jul 2012, 12:11 PM Reply Like
  • sawhorse1213
    , contributor
    Comment (1) | Send Message
     
    Suggested they get rid of CEO Hein last month. WHAT ARE YOU WAITING FOR---a shareholder law suite on the directors.
    Huh, good idea.
    3 Jul 2012, 01:25 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4911) | Send Message
     
    "ICEBERG DEAD AHEAD"
    3 Jul 2012, 02:32 PM Reply Like
  • bedrock65
    , contributor
    Comments (673) | Send Message
     
    All you "insider's" must know something that Heins doesn't. Time will tell who was right.
    3 Jul 2012, 08:23 PM Reply Like
  • frankiethecat
    , contributor
    Comments (36) | Send Message
     
    I'm no insider but the writing is on the wall for anyone who is awake. Waiting another 8 months until BB10 is launched will mean roughly 3 quarters of increasing losses and burn through of cash on hand and customers aren't going to wait that long and neither will developers even if RIM does email better than anyone else, it's not enough.
    3 Jul 2012, 10:24 PM Reply Like
  • Ronin.
    , contributor
    Comments (1556) | Send Message
     
    Yes, Bedrock, unfortunately we do realize a lot that Heins doesn't seem to understand. He thinks just because he cut staff that the company is fine. He just announced the delay of BB10, and things are fine?...what I know that he doesn't, is that he is in the smartphone business, and a delay is not fine...

     

    Thorsten is looking over the side of the Titanic, yelling out to everyone "not to worry, It's just a scratch!"

     

    Neither does he want to license BBM, he is ensuring that the sinking is just like the Titanic...slow but sure...
    3 Jul 2012, 11:57 PM Reply Like
  • bedrock65
    , contributor
    Comments (673) | Send Message
     
    RIM has stated they will have fewer products which equates to a headcount reduction. The reality of the matter is that no one outside RIM knows what really is going on they have been tight lipped.

     

    I have been pretty consistent, this year will be a roller coaster ride. I still maintain my lonq term position on RIM nothing has changed especially at these prices. I may buy another lot, maybe after Q2 or Q3.
    4 Jul 2012, 07:47 AM Reply Like
  • RealMrBean
    , contributor
    Comments (67) | Send Message
     
    Best of luck with your long positions.

     

    You are absolutely right: RIMM will have fewer products:

     

    * enterprise customers getting rid of the nightmare BES
    * BIS revenues tanking as operators are opting to either take bigger slice of the cake, being forced to adapt their own prices downwards or simply adopt less costly solutions
    * security features becoming obsolete with the introduction of the new ARM security framework and Apple pushing their own SIM implementation into the standards
    * bill-of-material for BB10 phones shaping up to become costly and uncompetitive as QNX requires powerful processor, and hi-res display has to be bought from RIMM's competitor
    * only small margin in cut-throat cloud offerings with security becoming a commodity item
    * apps business will be negligible when (or if) BB10 surfaces

     

    Where is the white knight???
    4 Jul 2012, 04:24 PM Reply Like
  • Odin.
    , contributor
    Comments (81) | Send Message
     
    We only have a black knight with no legs...
    4 Jul 2012, 04:39 PM Reply Like
  • bedrock65
    , contributor
    Comments (673) | Send Message
     
    Given your sour opinion why don't you short RIM?
    4 Jul 2012, 08:16 PM Reply Like
  • Ronin.
    , contributor
    Comments (1556) | Send Message
     
    "this year will be a roller coaster ride"
    You're going to continue averaging down...even after Heins dropped the bomb? Have you ever stopped to look at a roller coaster ride? Let me ask you, besides some bumps, does a roller coaster ride go up or down?
    4 Jul 2012, 08:33 PM Reply Like
  • bedrock65
    , contributor
    Comments (673) | Send Message
     
    It does both, why don't you give it a try.

     

    Now is not the time. As tantalizing as it is, I have my own holdings limitations so I will wait after Q2 earnings.
    4 Jul 2012, 08:56 PM Reply Like
  • GSlusher
    , contributor
    Comments (1283) | Send Message
     
    @bedrock65:

     

    I noted that you must be very prescient. A few months ago, you wrote:

     

    "RIM is trading roughly the value of its cash and A/R, it's time to buy back in.
    With 77 Million subscribers and growing its a safe long bet at $12."

     

    See

     

    http://seekingalpha.co...

     

    On that date (May 4, 2012), RIMM closed at $12.01.It hasn't closed over $12.01 since then. On July 3, it closed at $7.35, down about 39%.

     

    For you and others: you might benefit from reading John Allen Paulos's book, "A Mathematician Plays The Stock Market." Part of the book tells the tale of Paulos's investments in WorldCom. He was saying much the same about WorldCom as bedrock65 and others are saying about RIM. N.B.: I'm NOT comparing RIM and WorldCom, just how Paulos says he thought about WorldCom and how some here seem to think about RIM. In both cases, people are blind to reality, even though it's slapping them hard upside the head.
    5 Jul 2012, 04:14 AM Reply Like
  • bedrock65
    , contributor
    Comments (673) | Send Message
     
    You obviously haven't paid attention, I have a long term view on RIM and will reevaluate my position after BB10 release and after its Q1 earnings which is next June. Is that long enough for you.
    5 Jul 2012, 08:04 PM Reply Like
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