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Blackberry Canada Cellphones Handhelds The Almighty Buck

RIM Co-Founder Drops His Stock 114

Posted by timothy
from the writing-is-in-spraypaint dept.
drdread66 writes "Reuters reports today that Research In Motion co-founder Jim Balsillie dumped his entire stake in BlackBerry at the end of 2012. While it's common to see high-level executives sell some of their shares to gain some liquidity, it's unusual to see them exit their positions completely. This has to be seen as a massive vote of 'no confidence' from someone who was on the inside long enough to know what's going on in the company."
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RIM Co-Founder Drops His Stock

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  • by erp_consultant (2614861) on Thursday February 14, 2013 @05:08PM (#42901119)

    When one of the founders bails you know the ship is sinking.

  • Hockey Team (Score:4, Insightful)

    by Anonymous Coward on Thursday February 14, 2013 @05:11PM (#42901155)

    Or it's probably because he needs cash to buy an NHL team to move to Hamilton.

  • by Lisias (447563) on Thursday February 14, 2013 @05:14PM (#42901213) Homepage Journal

    Or you know that someone with deep pockets paid him to do so, lowering the prices and rendering the company vulnerable to a Hostile Takeover.

    Do you know Siemens VDO, I mean, Continental A/G, I mean, Schaeffler Group? :-)

  • by Anonymous Coward on Thursday February 14, 2013 @05:15PM (#42901217)

    If his judgement is so good about the mobile phone industry, how did he take the undisputed industry leader and run it off the road?

    Perhaps he thinks the new models are missing the navigation wheel and the color screen is distracting.

  • by linuxtelephony (141049) on Thursday February 14, 2013 @05:15PM (#42901219) Homepage

    Wasn't he ousted earlier? Might this be a case of sour grapes and a way to get back and give RIM, I mean Blackberry, a bit of a black eye?

  • I see it as plus (Score:2, Insightful)

    by Anonymous Coward on Thursday February 14, 2013 @05:18PM (#42901267)

    I see a founder who has had a huge strop that basically while he was at the help the company was loosing out to the rising smartphone market around it. He got sidelined and selling his stock was a final "throwing my toys out of a the pram' act. Ive seen it before, albeit in smaller startup environments. I see that Blackberry now at least has a viable modern product... and is attempting to find a direction. during then end of his tenure it was lost... Nothing more than an angry failed executive here...

  • Bad decisions (Score:5, Insightful)

    by Dr. Evil (3501) on Thursday February 14, 2013 @05:19PM (#42901281)

    A decade of being in the right place at the right time only keeps your bad decisions in check for so long. Eventually somebody comes along and makes good decisions.

    Although I don't have much hope for RIM, I think any decisions this guy makes are as irrelevant as his decisions in his last years at the company.

  • by Anonymous Coward on Thursday February 14, 2013 @05:27PM (#42901411)

    Patent rights.

  • Diversification. (Score:5, Insightful)

    by Dzimas (547818) on Thursday February 14, 2013 @05:31PM (#42901465)
    Balsillie left the company in 2011. He has no up-to-date insider knowledge or connections with the current management team and it makes some sense for him to have sold his stock (approximately $300 million) to diversify his portfolio. I wish we could bury this sensational but meaningless story from the front page.
  • by fermat1313 (927331) on Thursday February 14, 2013 @05:33PM (#42901489)

    Shitty Journalism

    Of course the media wants to tear down a non Apple company. They are well on their way.

    What exactly are you smoking? What part of this story is shitty journalism or "tearing down a company". The founder and former CEO of an important tech company dumps all of his stock at once, which is a pretty unusual event. It's definitely reportable, as is the impact it had on the company. Apple, Google, Microsoft, and the other players in the industry weren't even mentioned.

    So clearly this isn't shitty journalism. In fact, someone *not* reporting on this would be really shitty journalism. So what, exactly, is your problem with the new story?

  • by CanHasDIY (1672858) on Thursday February 14, 2013 @05:37PM (#42901555) Homepage Journal

    Hey, give the guy a break - those high-class hookers are expensive!

  • by fermion (181285) on Thursday February 14, 2013 @05:40PM (#42901611) Homepage Journal
    Or he just wanted a few hundred million dollars. Pretty much, as far as I can tell, the guy is not connected to the company anymore. He evidently put a couple hundred thousand dollars int he company way back when, ran the company for a while, and that is about it. All that can be said is he does not think RIM is as good as an investment as some other companies. And not really that since we don't know if he is just needs money.
  • by stephanruby (542433) on Thursday February 14, 2013 @06:35PM (#42902435)

    Might this be a case of sour grapes and a way to get back and give RIM, I mean Blackberry, a bit of a black eye?

    Actually, if the headline had been been written like this:

    "Recently Ousted RIM co-CEO Jim Balsillie Sells all his RIM Stocks Today"

    ...there would have been no black eye or misunderstanding to begin with. And its following paragraph would have been immediately seen for the click-baiting fabricated lie that it really is: "While it's common to see high-level executives sell some of their shares to gain some liquidity, it's unusual to see them exit their positions completely. This has to be seen as a massive vote of 'no confidence' from someone who was on the inside long enough to know what's going on in the company. " - emphasis in bold mine.

    PS: And please, don't take this to mean that I'm some Blackberry fanboy. I'm not. I personally don't have confidence in that company either. It's just that I hate to see the "news" purposefully misinterpreted in this way.

  • Re:Hockey Team (Score:5, Insightful)

    by sunwukong (412560) on Thursday February 14, 2013 @07:53PM (#42903647)

    The way the NHL is run it'd be easier/cheaper to move Hamilton to Phoenix.

"The most important thing in a man is not what he knows, but what he is." -- Narciso Yepes

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