All of Research In Motion's (RIMM -2%) board members have been re-elected at the company's...

All of Research In Motion's (RIMM -2%) board members have been re-elected at the company's shareholder meeting, though substantial minorities withheld votes for Thorsten Heins, Mike Lazaridis, and Barbara Stymiest. RIM says it has hired an executive search firm to find board members with technical experience, and plans to consolidate manufacturing from 10 sites to 3. Heins continues to toe the company line quite faithfully.
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Comments (7)
  • smartoptiontrader
    , contributor
    Comments (20) | Send Message
    At RIM's AGM taking place right at this moment, as of today when everyone else competing with RIM has already launched and lined up for near-future launches of newer, better and, more importantly, better-market-loved mobile devices and services, RIM is still saying it has not had board members with technical experience, not even been interviewing any one with technical experience yet, but instead it has hired an executive search firm to find board members with technical experience. What a shockingly "positive" news to tell the shareholders attending the AGM and everyone else in the World. No wonder all the delays and missteps in RIM's kingdom has happened for years and will keep happening for long time to come.


    Disclosure: I own RIMM Put, AAPL CALL and Just sold ARNA CALL for 20% gain.
    10 Jul 2012, 11:52 AM Reply Like
  • Jeff Jackries
    , contributor
    Comments (96) | Send Message
    Tow the line? really? Are you sure you don't mean "toe the line"?


    Anyway, on topic - wow, the fact that RIM shareholders reelected the board shows that they're totally in denial. Hope that works out for them. It hasn't yet, but maybe if they keep trying the same thing, they'll get a good result.
    10 Jul 2012, 12:09 PM Reply Like
  • Ronin.
    , contributor
    Comments (1556) | Send Message
    The shareholders left things exactly the same... And Heins will continue the company objective to benefit the shorters...thx
    10 Jul 2012, 12:59 PM Reply Like
  • Stock Truckin
    , contributor
    Comments (47) | Send Message
    This is good news, as it is crazy to change the board members before the management change can prove they are doing everything they can to get things back on track. Anyone that thinks a few months can turn things around is the one in denial, and not the RIM board members or shareholders. Sometimes I just can't believe what people say. In IT, it can take a couple years to turn things around. RIM's turning point will be the release of the BB10. If the stock drops more, that's great. I'm still waiting to buy in, but definitely will closer to when the BB10 is released.
    10 Jul 2012, 05:12 PM Reply Like
  • countingudown
    , contributor
    Comments (132) | Send Message
    RIM has progressed beyond sheer ineptitude and now appears to be doing what it can to accelerate its own demise. This will not end well, and it could end even more quickly than most of us here have been pointing to:


    Ian Austen, reporting for the NYT, on RIM:


    “They’re going to get sued and they should get sued because I think a closer look at the record is likely to unearth knowing and willful misrepresentation,” said Jean-Louis Gassée, the former president of Apple’s products division and the founder of the software maker Be, who is now a venture capitalist and blogger in Palo Alto, Calif. “When the C.E.O. says there’s nothing wrong with the company as it is, it’s not cautious, it doesn’t make sense.”


    Bye bye RIM. You had your time, but you got lazy and refused to innovate strongly and early enough.
    11 Jul 2012, 06:50 AM Reply Like
  • jrmj
    , contributor
    Comment (1) | Send Message
    smartoptiontrader basically spamming any RIM news with negative spin thinking that somehow it has an influence on the market.
    10 Jul 2012, 05:43 PM Reply Like
  • smartoptiontrader
    , contributor
    Comments (20) | Send Message
    Hi jrmj:


    You are correct in the sense that I try to digest/understand the implications of news myself to figure out which way it will drive the pricing of my own positions/investments for the sake of making money. For that reason, I post my understandings of the news' implications and humbly and thankfully waiting for and reading others' feedback/comment/sugge... which together with my own studies form the base for decision making on my trading directions and actions. I do not believe, do not intend and do not hope my postings on SA will have any influence on any security traded in the big and free market. Further, I do not have any inside info on any security and I do not work for any security/brokerage firms/banks.


    Some SA members posted some comments/suggestions to my June 28, 2012 posting "Bought 1K July 21'12 $7 Put" in a different thread. To show my appreciation for them and for all the comments/suggestions on my other postings on SA, I shared with them and would like to share with you and other SA members the following on how my tradings have been eve since.


    Today, July 10, 2012, is a day full of actions: At $.23, I sold most of RIMM Jul 21 12 7.00 PUT (when RIMM @$7.21) and bagged a good gain (previously missed a gain up to 115% on July 2 because of mistakenly waiting for RIMM to drop more (below $7.14). But, RIMM bounced up instead from July 2's low of $7.14 to July 6's high $8.14, knocking down my RIMM PUTs by 75% below cost/capital with the PUT going down to as low as $0.06. Confident that RIMM was going to come back down in a few days, so waited for it to happen and glad it did drop from July 6's high of $8.14 to today's low of $7.20 with the PUT going back up to as high as $0.24 today. If you are active trading, please be aware what I experienced in last few days of trading: there seem to be a lot of buying interest/power for RIMM around $7.20.


    Also bagged 20% gain on ARNA CALL today after its price has gone up for two days in a row.


    I still own some RIMM PUT and AAPL CALL, and now looking for new opportunities. Any comments/suggestions will be much appreciated.
    10 Jul 2012, 07:06 PM Reply Like
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