RIMM CEO Prefers Very Challenged to Death Spirl

Jul 3, 2012
J. Webster
Comments Off on RIMM CEO Prefers Very Challenged to Death Spirl

You know when CEOs of companies come on CNBC or Bloomberg and say they don’t need to raise more capital or say their company is fine and they will survive? What usually happens?

They try to raise more capital or they end up going bankrupt. The stock only goes lower and lower. There’s just really no way for a CEO to say anything to turn the tide if it’s negative. The only thing you can do is take steps to turn your company around. Put your head down and go to work. Develop partnerships. Sell your company before it’s too late. Action speaks louder than words, you know. Well, there’s always the call to Warren Buffett?

“This company is not ignoring the world out there, nor is it in a death spiral,” Heins told the CBC.

“Yes, it is very, very challenged at the moment — specifically in the U.S. market. The way I would describe it: we’re in the middle of a transition,” he said. “All that is in the making, it’s in the works. This company is in the middle of it and I’m positive we will emerge successfully from that transition.” (Reuters)

Research In Motion CEO Thorsten Heins also likes to refer to his company’s collapse as the spiral staircase of joy, the spiral down the apple tree, the spiral of blackberries, the spiral anew, the spiral of hope….and so on. We’re just in a transitional period!

Also notice how in the article Heins smartly mentions how he just took over the company six months ago.

RIMM was trading for nearly $150 a share about four years ago. Now it’s trading for under $8 a share. Yes, that’s what you can a death spiral. There’s no way to spin that.

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