Canadians are too nice
From innovator to has-been: the BlackBerry problem
03 September 2012
“We’re being singled out because of our success.” Ironically, Research in Motion (RIM) founder Mike Lazaridis’ infamous objection during a BBC interview last year was not about RIM’s current problems. He was responding to questions about security concerns on the BlackBerry network. Yet that was a storm in a teacup. After hitting an all-time high in 2008, the BlackBerry maker’s stock had by then decreased by over 75 percent in value. Today, that devaluation sits closer to 95 percent. As one would imagine, stockholders are fuming over the freefalling value of the company and have repeatedly bumped heads with its management.
Leading the charge is the Jaguar Investment Corporation. This Canadian merchant bank has been actively rallying smaller stockholders to demand change, including a company split and selling off the handset division.
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