Friday, June 17, 2011

Clueless Canadian CEO's give RIMM job to shareholders

This gives me flashbacks to the slime bucket teams that ran Nortel Networks and they did it not once but twice to regulators. 

Despite the grim news, co-CEO Mike Lazaridis declared RIM a "strong business" that is undergoing a transition to major platform upgrades.


When asked whether RIM is hurt by a co-CEO structure shared by Lazarides and Jim Balsillie, Lazaridis responded: "We work very closely together, and I don't know where all these things are coming from. The thing you have to understand is that this is fun."

Several analysts defended RIM and its strong role in the enterprise, but noted RIM's product challenges and other missteps in a market that is crowded with successful tablets and smartphones running Apple iOS and Android.

"I think they never thought they would be in this position," said Ken Dulaney, an analyst at Gartner. "You can see from the Lazaridis interviews online that he isn't absorbing this failure. He is probably having trouble coping with the fact that his products are no longer the top dog."

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