EMERGENCY CRACKBERRY PODCAST: BLACKBERRY GOING PRIVATE!

By Kevin Michaluk on 23 Sep 2013 04:38 pm EDT
2
loading...
0
loading...
63
loading...

You read that right. It's not OFFICIAL yet, but the $4.6 Billion offer to take BlackBerry private is in. Not much else to say. Join the chat below as we talk it all out!

 

Topics: Podcasts

Reader comments

EMERGENCY CRACKBERRY PODCAST: BLACKBERRY GOING PRIVATE!

202 Comments

Correct me if I'm wrong.

But they intentionally released the financial statement with 1 billion in losses ahead of schedule to beat the stock price down so it can sell at 9$ a share. Possibly even intentionally botching the BBM release to kick it down another few points.

Is that legal?

I too think all this has been intentional Including stopping BBM from going multi platform! This way stock stays rock bottom until they can close the deal!

Posted via CB10

This is exactly what I think they did to drive the share price down in order to increase the likelihood of a deal... and I do think it is a violation of their fiduciary duty.... and possibly illegal...

Posted via CB10

The "go-shop" clause protects them from that. They are basically daring the board and shareholders to find a better deal. If they cannot (which they will not), then tough luck. They will basically say "obviously you can't get a better deal, which means that we did what we did in a way that makes sense and the price you got is as good as it gets".

Shareholders can reject the deal, even if a better one does not come up.
I'm not sure if Fairfax can get the financing for any higher a share price.

good question! Remember what the repercussions were after what happened with the Facebook launch....nothing as far as I can remember. If this was all manipulated to lower the share price then that definitely would be unethical but we may not have laws in the books yet that make this type of practice illegal. The shareholders might could file a class action lawsuit against Blackberry, if they could prove Blackberry was at fault. If there were unethical practices going on, I would bet that one of the 4500 employees that was just fired could come up with some evidence to prove it....but I think Blackberry has a good argument that they just protected their stockholder's investment by buying them out just in case the company goes under.

Definitely a lack of laws in place for white collar crimes. But it shur sounds illegal. The shareholders (owners) got the shit end of that stick for shur

Well, at least the leadership (at all levels) has been consistent. It takes a LOTA of hard work to be so incompetent that you need to write off a Billion $$$ of inventory.

And hey kids... for fun... compare how the BBRY talent executes against how the talent for the other fruit company executes. One executes to plan. One doesn't. Simple.

Posted via CB10

No they announced it Friday. The deal happened monday. They were definitely in talks with these people for more then 3 days, they didn't announce the finances to drop the share price down

Sent From Q10/HTC One

Not much to say ...
Long awaited, the deed is done and the company will continue.
Except a financial company, nobody else wanted the company.

Long live Blackberry!

Honestly, I dont know how this helps if at all. Well, maybe it helps a little. But Prem could easily see dollar signs by selling off chunks of the company. BB is not out of the woods yet. Not even close

Are you guys taking requests for the podcast? I would like to know a couple of things. If and when this goes to a vote, what is the percentage needed to approve the sale? Is it simply 50.1 percent or more or is it a little more complicated than that. The second question is this. After Fairfax, who I believe owns 10%, who are the other shareholders with a significant stake in BlackBerry and what are their percentages?

I was totally just thinking that .... I have seen this coming....When Prem stepped down and then the BBM hold was the kicker after the stock was driven down. The public eye and stock and the media have all killed the Image....This will be good. Still avail for me and others. I will pay premium prices to keep my BlackBerry.

It's a win win situation. Prem bought a company for peanuts, TH is laughing to the bank. This is a text book white collar crime that's legal. Prem steps down they release earnings ahead of time when BlackBerry was under no obligation they drive the price down and the rest is history. But I still can't help loving my Z10

Posted via CB10

For the consumer, whether BlackBerry stays public or goes private, the availability of phones will go to zero. :(

They're planning to just sell to enterprise and "prosumer", which probably means you're not going to find it at the carrier stores (not like that's happening now anyway).

nothing is changing as to who is selling the phones. They are just going to stop marketing to the regular consumer. BlackBerry was built on selling to enterprise customers. When I bought my first BlackBerry in 2007, I wanted it because it's what the rich execs all used and I bought it at a telus store.

What they were at the carrier store some where in the backroom, not in display?
Ohhh yahhh they had all the old iphones in the front as soon as you walk in and hire isheep salesperson.

Even if they do get to carriers they won't be new. Enterprise can get away with a much longer update cycle. You won't need a updated Q10 and Z10 yearly that's for shur

Posted via CB10

I don't want to replace my BlackBerry yearly, until I got my Q10 in May, I was rocking my 9700. Longer update cycles BlackBerry can go for the best hardware.

Shareholders were the least of their concern. They had intentions of taking this company private since Prem stepped down from the board.

Posted via CB10

In a google search enter:
"Apple" "1997" "microsoft" "deal"

Sometimes a dying company needs capital to not only survive, but to thrive.

Posted via CB10

The sad part is that BlackBerry has cash to spend on marketing, but they're not doing it (which may be a good thing since they need new marketing heads).

BlackBerry spent too much on inventory and starved marketing.

Exactly! That was what went through mind. Apple just about died and given the lower awareness through lack of instant news of the day back then, it was still well known that Apple was going down the drain in a similar way to BlackBerry today. If MS hadn't stepped in who knows where they would be today, if anywhere. Let's see what this change brings. If what I hear about Fairfax is accurate, they are in it for the long haul, not just a quick and dirty auction.

Fiasco....late phones.....a paperweight PlayBook......crap updates.....wasted my money and time!!!!!

Posted via CB10

I'm posting this on my $500 "paperweight" PlayBook. The PlayBook is still useful, even though it is noticeably an older device. I feel like I've gotten my money's worth from this tablet, considering that I usually upgrade my mobile devices at least once every two years.

Same here, still using and enjoying PlayBook everyday. The value of almost any electronic device drops substantially the day you buy it and is "obsolete" 6 months later.

Agreed! I completely understand that Heins made a promise about PlayBook and BB10 before he was positive that BBRY could make it happen -- a bad move in my opinion. However, I'm still happily using my PlayBook (albeit less frequently now that I have the Z10's awesome browser and larger screen).

When Apple releases another iPhone or iOS upgrade, no one calls their old iPhones paperweights or condemns the company. I know that they do offer their iOS upgrade to legacy devices but some devices are left out completely and for others features are limited and performance slows post upgrade. I have several friends with iPhone 4 who are seriously regretting their recent iOS7 upgrade. They feel like Apple is forcing them to buy a new device by degrading their legacy device performance.

Sorry to ramble on but it just seems like BlackBerry is under a microscope that people are viewing with an already negative attitude. PlayBook owners are vehement about being abandoned but the fact is that you would have been just as angry if they had released BB10 on PlayBook and it ran horribly or caused your tablet performance to suffer.

Please don't say that to Kevin and co. The guy just bought an iPhone for $1500. I didn't expect that from some running a Blackberry fan site.

Didn't you watch the podcast where Kevin states that he has to know everything about everything? And in doing so do you blame him for getting the particular one he wanted? Kevin plays part in Android, Apple, and BlackBerry. He just favors BlackBerry!

Posted From My Amazing Z10 via CB10 Z10STL100-4/10.2.0.1323

If I could afford it, I would have all the latest devices as well so that I could completely judge all. I cannot so I stick with my BlackBerry which is my preference.

Posted From My Amazing Z10 via CB10 Z10STL100-4/10.2.0.1323

Ok, so for that he needs to buy iPhone on the day it's released from a place where there is huge lineup. We all know that these things come down quite fast. In my opinion, someone who really likes iPhone would do that. In fact I don't know why anyone would over pay that much, let alone someone who is running Blackberry fan site.

This seems to happen every time you guys podcast. You share some news and then something even BIGGER happens shortly after! Lol

BlackBerry will go on, no matter who owns it. You know, like the monarchy. It always continues, no matter who is the king (or queen).

Had to help a Co worker with his iPhone the other day after his ios 7 update and as nice as it is to see so many apps using it for 5 minutes made me love my Z10 even more

Posted via CB10

Men like this don't invest 4.3 billion unless they know for sure they will get all of there money back and more. This is good for BB as long as he has the dream of turning the company around. I don't know his history. Sometimes they make the investment knowing they can chop it up and sell it off for quick bucks. I hope that's not the case. I see BB is doing everything right the down fall is 3 years or bad moves and bad press. that's why the sales aren't as strong as they hoped. They really just need to toe the line. It will turn around. I'm not sure abandoning the direction now is the best move. I'm a little pissed. I have shares and paid a little more then $9 for them and when it does turn around I wont reap the benefits.

What are the chances that Fairfax could buy for 4.7 BBRY and then invest another 4BN into BBRY? I mean, if they bring more cash to the table, they can buy more time and make a difference.

Not sure what happened think of this. The whole situation appears to be successful stock manipulation by the BOD and Prem.

My gut tells me that this is the best the company and the board feels they can do to maximize shareholder value.

Posted via CB10

Google should buy BlackBerry. This would be best for all of us. BlackBerry nexus 5 hahaha

Posted via CB10

now, maybe the new owner will say either we're BB are not. No more sideloading get on board or get out of our way

What happened to all of those companies who, supposedly, wanted to buy BlackBerry Amazon, Lenovo, Microsoft come to mind....

Isn't $4.7 billion a complete "insult" of an offer and shouldn't some of these other "bidders" be salivating today?

Umi... Anyone???

Other companies can still jump in. Fairfax set a bottom price. If no one else bids higher, Fairfax will buy at this price.

They just established the opening bid. Let's watch over the coming weeks to see if any other offers materialize.

Posted via CB10

Damn good. But BlackBerry has to figure out something serious for a market share takeback to take place.

Me?! I keep movin'!

Nokia is sold. BlackBerry will be sold soon. I hope after that we will see an decent handsets from both companies. Fingers crossed.

Pay the shareholders who have supported Blackberry by going long and not shorting this stock the past year or so what is a fair market value. The antics of Friday and the weekend only conspired to make the sale price a joke. Even my stock brokerage agrees Prema has driven the stock down and conspired to take full advantage of timing with a low ball offer. The fact the corporate fail-ship at Blackberry took the easy quick sell and have made it impossible for any of the true stock holders to make a return let alone the losses we are all likely to see is a sham. I am all aboard for a class action lawsuit!!!!!!!!!!!!!!!!

Good important no Chinese took it and I believe this will help and I hope new border will come who can manage it better

Posted via CB10

Chris Umiastowski., question for you: When exactly did the Board meet to accept Watsa's offer? How long did they deliberate? The share price was in the $10 range on Friday, before the earnings pre-announcement. There's no way they would have agreed to the $9 offer at that point. So, did they actually meet this weekend? If so, that's a pretty fast decision, at very little premium. Or did they have an agreement in place that if the share price dipped below $9, they would accept Watsa's offer? It's almost like they had a stop-loss order in place for the company.

I'm really peeved they didn't wait until the launch of xBBM. It makes little sense, from a shareholder POV. You already took the hit from the bad earnings news, wait until a) the BES contracts are announced on Tuesday, b) xBBM is launched, and c) the chance for better market penetration from cheaper Z10s. Gah

I don't really know which foot are we standing on, what to expect, what to think. The saddest part of all this drama is this is making the appearance of top apps get difficult to arrive

Posted via CB10

I am a bit confused on the enterprise focus. I work for a small business, I use the Z10 primarily for work - ie to get stuff gone. So am I enterprise? or a Prosumer? I would still think BlackBerry would target me versus some kid...

I have not ever posted on this site. I do not understand how people have determined that the roll out of bbm10 is a failure. I was away this weekend with friends and one of the individuals in our party is at an executive level with one of the large American airlines and he is looking forward to getting his hands on the Z10. He will be testing it for that airline to see if it works. If this is one of many American companies in the timeline of adopting bbm technology perhaps the rest of us are a little quick on the trigger

Its amazing how you people sit here and complain about what's going on, when BB does good you all cheer, but when something happens (that we all knew would happen one day soon) some of you are ready to jump ship. I'm glad this is America and we can all have our say, but damn folks....relax and take a breath, and lets see what's next.............Long Live Blackberry !!!!!

Here, here! Let's see, it could the magnificent step that could SAVE BlackBerry for us all, instead of Google or Apple, or anyone else for that matter, buying BlackBerry just to dissolve it into nothing.

Posted via CB10 from my seksi Z10 (STL100-3 | OS 10.2.0.1743)

Interesting story to share:

At a family function over the weekend and at various times we had our devices out which I noticed the room was filled (of course) with Android & iOS with myself sporting the sole Blackberry device.

I brought up the release of BBM and it became "thee" conversation, until we realized there was some king of a problem.

To make a long story, the experience was a little dejecting; I've had the chance to read what had happened and I do except the explanation as a user but needless to say this news is happy news, and in no small part I feel relieved that I will no longer feel the need to "defend" my choice in smartphone.

Let's see where being out of the limelight takes us.

Sent from my BlackBerry Z10

Hopefully this a play to turn the company around. In the past I wouldn't have said this but with the new 10 platform I think they are are as good as anything out there.

That being said they need to get better and be better than anything out there.

Hope this works out

Good luck BlackBerry

Posted via CB10

Folks, open your eyes. Friday was options expiration day which is the trading day every month with the highest volatility. They announced DURING market for a reason. They not only took a massive write down (1b is a $250 write down on 4 million. Z10s...how many are in inventory and what is they're actual cost base? Also they changed the way they report revenues which creates a one time hit on the books just in time before going private.

Posted via CB10

Kevin commented "now they can execute their strategy the way they want".

What is the strategy, because as of right now there was only one strategy at play.

Present a seemingly plausible picture of effort to recover to the shareholders and public at large while ensuring that the company does not experience any sort of actual recovery or growth. Instead the focus was on subversion and reduction of value until the price became palatable to a specific buyer. The consumers appeal was a ruse, and this is confirmed with the desire to solely focus on enterprise.

In other words there was no desire to have BlackBerry appeal to the consumer or to really make BlackBerry 10 the mainstay or really any kind of competitive player in that segment.

$1 billion could have been spent upfront to ensure that every single top 100 app, or more than that is available at launch. Instead, we spent a billion to write down devices that would have been sold had the said apps been available on the platform since the launch of immediately after.

What's the comment on that?

Posted via CB10

What ever happens just want blackberry to survive my Z10 is great I want a new BlackBerry next year & the year after & so on.. come on blackberry..

Posted via CB10

It means shit to the rest of us. If there was anyway left to screw over customers, employees and shareholders this was it!

Now Pringle Watsahisname, Fairfuck Capital, Thorsten Heins Ketchup and all the other neanderthals who comprise the upper management can smile their shit eating grins and announce the good news to all the dunces who'll gobble up all this nonsense about the company getting a new lease on life and that this was a necessary step in the ongoing and terribly mysterious "Plan".

I call bullshit on this one! If the deal goes through watch the rest of the employees get the boot and the company be dismantled like Lego and sold for good!

I really don't even know what was the point of announcing the launch of the Z30 ?! It has already become an afterthought...about a company that once used to rule and then through its own hubris, arrogance and incompetence has reduced itself to the brink of irrelevance!

Meanwhile, Apple and Samsung can continue to peddle their pathetic garbage unencumbered!

PS Thanks to upper management for the big middle finger to all of us, when in July they went out and bought a new corporate jet, while the rest of the employees, customers and shareholders were getting royally screwed!

Typed on my now increasingly irrelevant Z10 on its way to the local landfill!

Posted via CB10

I thought I did, but just in case you are not satisfied I can answer in a much more direct and personalised way!

Posted via CB10

Total scam!! I hope securities commissions from both US and CANADA look into this shady corporate dealings.
Watsa knew what was coming from the earnings and made a move any greedy capitalist would. BB upper management helped him on the way and gave him a gold plated thank you! Down the road parts of it will be sold off. I feel for companies like QNX and TAT that were bought out, they could have done so much better on their own. A very saddened and dejected fan

This was done to put Blackberry in play with the hope of soliciting a higher bid.....no doubt that some Canadian pension funds are participating

If BB re focussing on enterprise, X platform BBM likely to be released first as an enterprise download for unified messaging under BES10, and maybe later for consumers.....

Somehow I doubt Fairfax will proceed with the offer if no other higher bid emerges. I won't be surprised to see an extension to the Fairfax offer as a tactic to get Blackberry through the third quarter with a stabilized share price.....

Google+ Watermark on a Blackberry podcast whining about Blackberry being sold and doing worse then they thought. Priceless.

If they focus on BES/Enterprise, kiss the 'normal' consumer goodbye. It's also possible they bought BB for the patents/technology and will dismantle like Kodak. It could also mean that BB devices running Android, but with a proprietary version similar to what Compaq did with Windows (a disaster for those that remember). All in all, it won't be good and I have already considered moving on. I'm sure I'm not alone that with an upgrade due in a month or two, I will be seriously thinking about switching away from BB. What guarantees will we have that BB will even exist in a year or so. And with the BBM4ALL release debacle, they probably blew ANY chance of gaining support from the iboys and Samsungniacs.

This seems unreal. It's a shame BlackBerry waited this long to overhaul...if they would have taken advantage of their market share and ingenuity 3 yrs ago...

Posted via CB10

Thanks for these insane hangouts. Keep the spirit going. Personally I hope BlackBerry stays alive and committed first to innovation in communication.

Posted via CB10

So then does everyone think it's been blackberry all along f'ing around with stock pricing. I mean really, all of it seems a bit much. But I don't care as long as blackberry continues. If it helps them make a comeback so be it. And no I don't have any financial interest other than the BlackBerry products I own.

Posted via CB10

Prem Watsa is the biggest shareholder and owns 10% of BlackBerry. He will also only be getting $9 per share. Is he loosing a lot on that end?

Posted via CB10

Prem Watsa is already on record as saying he wants to make BlackBerry back into a leading brand.

From the perspective of customers (both enterprise and consumer) and developers, nothing much is going to change. For a significant number of employees it's the end of the road, and for shareholders (like myself) for the most part it's goodbye to a chunk of cash.

BlackBerry is well set up to turnaround. The start of this year was lousy for launching the new platform. US carriers were carrying huge inventory from iPhones they couldn't sell (and despite the launch of 5S my guess is Apple will continue to decline) and so more or less refused to sell BlackBerry.

Once those iPhone 5 contracts expired, carriers may well start to push BlackBerry devices again. The last thing they need are more minimum sales contracts with Apple.

Carriers will have hundreds of thousands of cheap Z10's to sell (and will therefore make a fortune) and maybe they'll even push the Z30.

In the end the smartphone market is about carriers. Apple has tried to avoid reliance on carriers by selling from their own stores. But for most people - who are pretty dumb when it comes to smartphones - it's the carrier store that dictates their next phone.

If BlackBerry goes private, the chief stumbling block for enterprise will be removed. I have clients who believed BlackBerry was already out of business when I recommended BES10 and therefore refused to commit (despite the fact the competition is horrible to set up and run).

BlackBerrys end to end solution really is the best on the market for enterprise. But persuading an IT Manager to put his job on the line and buy BES10 with all the negative PR is impossible.

Not so sure where you are getting the "iPhone is continuing to decline" from. The numbers of phones they sell is increasing every quarter. They are not selling less phones. Their marketshare might shrink because the Android shipments are growing faster, but the numbers of iPhones sold is not shrinking year on year.

I remember when I bot BlackBerry pearl..n I showed it to my frnds..they were like wow....then I bot BlackBerry javelin..then bold series. curve series..torch1&2. Till torch series everything was going fine. BlackBerry used to b a class n apple.n samsung tried n compete wid BlackBerry..bb has never compare itself wid its competotors ever...I hav seen BlackBerry rising from the trough to 7th cloud n m feeling so low after seeing its down fall, blackberry is like a family member to me n I cant think of changing to apple or samsung. BlackBerry was a star, is a star n will be a star.

Posted via CB10

The Camera on the Z1...amazing. Tried a friend's z1 and the camera is definitely a replacement for your point and shoots.

Would have bought it if I didn't shell out on my Q10 which has an uncertain future now..

Posted via CB10

What difference does it make at this point. Having one way conversations about the company which don't seem to give any regard regarding it's future. It's getting to the point when reasons are forgotten.

You guys (Crackberry staff) are... delusional. The reason you can't think of any "synergy" between BBRY and Fairfax is... there isn't any! Never was never will be. This 'bid' from Fairfax is a breakup number. This number is about 2-3 billion less than they will get to break it up and sell it off.

Nothing more... nothing less...

Here's the long long long version.

-BlackBerry is like your first car or your first girlfriend, you never lose that attachment, that affection for it.
-crackberry is full of guys that are smart, they're business guys, they know how businesses work, from entry level positions to the top.
We have watched BlackBerry , time and again, fall short. Make empty promises, miss launch dates, miss out and get passed by the competition, etc
The playbook could have been and should have been, but again, the promises fell short. And rather than follow through and make it what it still can be, they walked away and made some bs excuses then wrote it off. From a hardware stand point, its still capable, just fucking finish it, like everything else.
BB10, the launch, the falling short, the excuses. BBM for everyone, the launch, the delay, the excuses. WASH, RINSE, REPEAT.
For years people have held out, have fought the good fight and now this, the last straw. Remember the beginning, this place is full of smart business people. They can read through the crap. Everything that has been written is true, the did a write down to lower the stock price on purpose, there was without a doubt some back door conversations about how to do it, and the stock holders are getting shit on because of it. BlackBerry is selling for less than Nokia, almost HALF what Nokia is selling for. A generic half ass hardware company sold for more than a multifaceted hardware /software company that offers the most secure messaging and data transfer in the world.
and for Heinz to get 55 mil if he does this is icing on the cake to shareholders. Crackberry loyalists, enthusiasts even. All for $9 share.

I will stay with this OS & device. Period. Cant comment on the financial end of things, but even to the most blind of us...this series of events does invite suspicion.

So they go private. I guess we will all see what transpires. All I would like now is 10.2 and a Z30 and to be able to continue using said devices.

Saddened but still hopefull.

Written with the superlative Q10..Z30 a coming!

I love you. I don't even know you. But, that exactly how I feel.

BlackBerry till death! Or until I have NO other option, and if the day comes that I have no other option, I may just not have a phone, unless my job (which I don't have right now) gives me one.

Posted via CB10 from my seksi Z10 (STL100-3 | OS 10.2.0.1743)

Dirty blackberry management drove the share price down and sell to Fairfax at cheap $9 a share.

Posted via CB10 with Q10.

I love how the Korean sky behind Kevin turns from black to blue to purple as the sun is rising during this podcast.

Posted via CB10

What happens to my Z30, I still want that device badly... Is it going to come to market , will the carriers like AT&T still bring the Z30 to market. I still love the way my Z10 and the Z30 works..?????????????

I don't see where this changes the way the public views them unless they bring in new blood in management and marketing.

Posted via CB10

BlackBerry management has Fairfax are playing dirty tricks under the table here.

The $9 target was set long time ago when the stock was trading at above $10 a share. Imagine when the stock price is $10, how can BBRY release buyout deal saying $9 a share?

So, the dirty tricks made this happen. The management leaked the rumor of layoff and inventory issue a week ago, then TH confirms it on Friday to drove the share price down. But it was just down to $8.50 which is not low enough for him to say selling the company at $9. So last weekend, BBRY purposely delays the BBM release saying a leaked version caused issue. This helps to drove share price further down on Monday.

Then in Monday afternoon, TH release $9 buyout LOI, saying Fairfax paying premium for this.

The whole thing is a dirty setup and conspiracy.

Posted via CB10 with Q10.

Hi Kevin

I would like to know what does it mean to consumers like us? Will developers stop churning Apps? Will the existing apps have no updates? Sad ending to a thriller of a movie?

Posted via CB10

Not trying to be too cynical he we, but in suggest you take a look at the PlayBook app store.

Posted via CB10

They won't go to jail because they make sure there are no laws that can be use against them..

Plus everyone is in on it, unless there is somebody in on the deal that blow the whistle they will got off scott free for stealing from people who hold their shares..

Think about it. If you stole $1 item from a store you will be sent to prison.. these guys stole MILLIONS if not BILLIONS but nobody can do nothing about them..

Keep your money to solid assets i say.. get off the stockmarket..

Posted via CB10

To bad ... They don't calm BB user on here. Instead they help by making it sound worse then it is. That only makes more people NOT buy and that is the worse thing that could happen right now. Just saying...

That's my point... The media has caused lots of the problems for BB and Crackberry is doing the same now. Going private is the best option for them.... It does not mean they are going out of business. Sometime a company has to go down... before they and start to recover, we don't need anymore bed media then BB already has.

GOOD. Finally they should be able to overhaul the completely incompetent management team and make a decent handset/os.

Posted via CB10

Maybe the management team deliberately want to be incompetent. They have at least 55.000.000 reasons tapi do so

Posted via CB10

The other positive things is, THOR wont be the CEO anymore. The BBRY should acquire crackberry as their main marketing blog site.

The US media have been instrumental in basically runninh down blackberry to the ground with all its negative reporting for a long while. Going private is the only way to overcome this. Regardless the circumstances surrounding Fairfax bid there is now a floor price. Even with this bid the media are now questioning the ability of Prem Watsa to get the financing of mere 2 billion after taking account of BlackBerry cash flow of 2.6 million to finalise the deal if there are no other bidders. No news is good news when it about BlackBerry from the US media.
The price of 9 dollars may be upsetting , the timing of last Friday profit guidance and delay in BBM launch will certainly put TH and the Board into a very bad light. I am sure TH and the board would have expected this reaction and the legal risk involved. However if they succeed to find a better buyer at much higher price, all these will likely be forgiven.
Another thing to look out for is how are the shorts going to react. As we now have a bid of 9 dollars and if most of the investors hold on to their shares hoping for better bids as there is a floor price now , the shorts may have to bid up above this level to cover their positions or keep spinning more news negatively .
I am glad there is my BlackBerry Z10 and Q10 to keep me company for a while and a believer that those who lie constantly shall reap what they sow eventually.

Posted via CB10

Lol bought the phone thinking twas great..its still a great phone mind you. I guess it means soon everything will go offline? BBM, bbworld, hub?

Means ill have a super basic phone with a nice keyboard!

Posted via CB10

Whoooah,just read every post and I must say you guys are the best!!!! Now I admit I don't know much about the business world, but I know when something ain't right...and this deal smells fishy. With that said I would like the CrackBerry Nation to take a chill pill. Let's stop the speculation. Breathe and relax, because it is what it is and theirs not much we can do about it period. Let's wait for the dust to settle and see if BlackBerry can get back to the business of being....A GREAT BUSINESS that we know it can be and was,because if we accept the position that the industry thinks we're in (at the bottom ) theirs only one way we can go....yall be good keep posting and I'LL SEE YOU AT THE TOP!!!! GO BLACKBERRY GO...PEACE.

Posted via my fabulous z10

Dude, you need a reality check.

BlackBerry is done. Finished as we know it. The sociopathic cretins and thieves that ran the company into the ground gave us all the big finger.

Most BullShit & Lame excuse from Blackberry. Long story short they were incompetent and despite having a hell lot of time to launch BBM by end of summer they failed miserably to atleast give one good impression of a timely and a good launch. Blackberry deserves to die thanks to the most inefficient management which loves to screw everything. Wasted resources on Playbook, wasted resources on using an lackluster app ecosystem lacking BB10 OS. Instead they should have used Android and made it Malware proof only for Blackberry users that would have not made Blackberry writeoff such a hell lot of inventory and burn cash. With the success via Android they could have targeted all types of consumers and even worked on monetizing BBM and Channels along with MDM service revenues. They killed this amazing brand! B@$tards! A very unhappy Blackberry Fan and Shareholder!

Correct me if Im wrong, or simply stupid...

Im about to import a brand new Z30 from UK for 1150$ just because i cant wait to have one.

If Fairfax acquire BlackBerry just to torn it apart and sell it in pieces, is it reasonable to fear one day, someone will shut off Waterloo server ? Is there any future or support for a BlackBerry end user like me ?

Posted via a Bermudian Z10

BBM will survive.. but if i were you, paying that hefty price does not make any sense anymore, with that money you can buy galaxy s4 (700 usd) and lenovo k900 (490 usd), both great smartphones, their hardware specifications are far more superior to z30. And they will also have bbm soon.. just a thought..

Posted via CB10

This will be good. Private companies don't release their financial statements. They can do what they want and money hungry stock owners won't be complaining all the time.

BlackBerry is a great company in that they don't carry debt and actually have cash on hand.

Something that has always bothered me is that Apple products have a long list of issues, are over priced and haven't been innovative in years. Yet you'll never see the press say anything bad about apple.

I listened to a radio review on the new models and the guy is saying how the new processor is so fast YouTube won't stutter. Lmao ya because the CPU controls network speed and quality.

It's too bad everyone only reporting bad news on BlackBerry for so long.

Posted via CB10

Really haha. I don't want an iPhone and even less do I want an Android. But I will always buy fruits, you know it's better. Know what I'm going to order a BlackBerry Z10 I'll just suck it up.

Check this out about apple

Apple layoffs: Painful but necessary
Zachary Coile, OF THE EXAMINER STAFF
Published 4:00 am, Saturday, March 15, 1997

Apple Computer Inc. Chairman Gil Amelio swallowed hard as he laid out his plan to save the beleaguered computer giant - a plan featuring fewer products and a considerably smaller work force.

The much-anticipated announcement Friday from Amelio and other top Apple officials began with the news of a 31 percent cut in the company's work force: 4,100 workers - 2,700 full-time employees and 1,400 contract workers - will lose their jobs.

"It's very painful for us to be laying off people who have been working very hard to bring Apple back to health," Amelio told reporters and analysts in a telephone conference.

But, he said, the only way to return the company to profitability was to slim it down from its present 13,400 employees and to cut its line of software and computer models.

"I am optimistic about the future," Amelio said.

"These actions put us back on the road to health."

Apple executives would not say how many Bay Area jobs would be cut, though marketing chief Guerrino DeLuca said the company's Sacramento manufacturing plant would be spared.

About 55 percent of the work force cuts will be U.S. workers; the remainder will be foreign workers, officials said. The layoffs will be completed by the end of the year.

Once notified, laid-off workers can stay on the job for 60 days, as is stipulated by law. Severance packages will vary by position and seniority, officials said.

Sales slump
Apple has lost almost $1 billion over the last five quarters amid slumping sales and consumer concerns about the company's new operating system. Apple's share of the PC market dropped to 5.2 percent last year from 7.9 percent in 1995.

The restructuring plan - Amelio's second attempt to jump-start profits since taking over 13 months ago - will cost Apple $155 million this quarter, but is expected to cut annual expenses by $500 million, officials said.

Chief Financial Officer Fred Anderson would not predict what the losses for the current quarter could be, but analysts expect the company to lose as much as $175 million. Officials hope to show a profit in the fourth quarter.

Employees at Apple's Cupertino headquarters were remarkably calm as news of the layoffs spread.

Strong job market
Glenn Webb, a contract employee who started eight months ago and does automated performance testing, said the layoffs come at a time when the job market for high-tech workers is strong.

"At least they can just get it over with and let the cut people get back to work and move on," said Webb, as he and Chris McNary, another contract employee, took a break outside the headquarters office.

"The cuts are happening globally, not just here," said McNary, who works with networking applications.

"I'm still a big Apple fan," Webb said, adding he would continue to support the company even it he got laid off. He said he thinks the company was honing in on "what sells and what doesn't sell." Apple officials announced they would cut funding for the company's Open Doc component software technology as well as Cyberdog, Open Transport, Game Sprockets, and Mac OS development tools. The company also plans to drop its video conferencing program and AIX server software.

The company said it would reduce the number of models of Macintosh computers and PowerBook laptops it produces.

Anderson said the company would also trim research and development spending to 5 percent of the company's budget and will try to integrate technologies developed by other companies rather than developing them all in-house.

Apple still plans to ship its next-generation operating system, code-named Rhapsody, next year. But the company will reduce the number of new releases of the program beginning next year from two to one per year.

Apple officials rejected speculation that they would sell the division that produces Newton, a hand-held computer, which has been losing money but enjoys a cult-like following.

"One of the very few parts of the company that is not touched by the layoffs is Newton," DeLuca said.

Despite the array of cuts, the plan disappointed some analysts, who said it still isn't aggressive enough and doesn't address the questions of how the company will boost sales.

"They're still in the same dilemma," said analyst Eugene Glazer of Dean Witter Reynolds. "It's a niche company with declining market share."

Others said Apple was finally focusing on areas of the business where they can still be profitable.

"It's very clear that they realized this is a very difficult time and that the only way they are going to get back to profitability is to cut costs and focus on core competencies," said Tim Bajarin, president of Creative Strategies Research International.<.

So don't worry about BlackBerry they will be just fine...

Posted via CB10

This is all irrelevant to BlackBerry's current predicament. For one thing, Jobs returned in 1997 and transformed Apple from a computer company into an appliance company. The rest is history.

BlackBerry is staring down the barrel of being broken into pieces despite what that creep Watscam promises. His credibility is worse than that of Herr Heins.