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."
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
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