New CEO for RIM?
Based on PM action, looks like the reality about the new guy finally set in. Was up about 75 cents, now down 75 cents.
I get the impression this guy is more of a puppet, with ex-CEOs still in charge behind the scenes. Reading everything off scripts, gushing on about how he’s so excited to be CEO, repeating “nothing needs to change” and heaping praise on previous CEOs… I mean, WTF? The reason he’s CEO is because change is needed. Everybody knows that, Wall Street, investors, the media, even the ex-CEOs know that, that’s why they stepped down!
Just wow. You can’t make this stuff up.
It’s not odd at all, in an odd kind of way.
Of course management changes signal hope >> stock appreciation.
What so many fail to appreciate is that management changes can also occur amidst one heck of a sinking ship. In this case, I’m not sure how much of RIM is left to save.
(By the way, I’ve put in a pre-market order for some RIMM calls just for fun.)
The two-headed monster had lost all credibility and had lost touch with reality. New blood will be given a honeymoon to make some shifts in tone and direction.
On the Wacky Predictions thread I forecast a few weeks back that RIMM changed leadership and reached 30 bucks a share in 2012.
$30? Agreed, after reverse 5:1 split in six months or so.
To be clear, my wild ass prediction assumed real new leadership, new direction and an effective leveraging of RIMM’s assets in a better market environment.
I see none of this likely with the new (old) guy…
AAPL: to boldly go where no stock has gone before
Beware the handpicked successor to a failed regime.
I think some of AAPL’s upside this morning is an indication that RIMM no longer matters.
Would have a new captain been able to save the Titanic?? Possibly, if he would have been aware on what’s going on around him and changed course immediately! This ‘captain’ does not seem that kind of person. My prediction - in 3-5 years people will say ... “RIMM, yes RIMM, I remember that company ... didn’t they make the Blackberry??”.
“We hang the petty thieves and appoint the great ones to public office.” - Aesop
The weird thing is, lots of us knew RIM was finished the day SJ showed off the first iPhone. But customers didn’t realise and RIM continued to grow rapidly and make lots of profit. And weirder still, RIM still doesn’t realise even though its market share is apparently dropping 20% a month or so and its CEO’s have stepped down!
Then again, I’m probably nearly dead myself, but I don’t take much notice.