Feeds

Shareholder demands RIM sell itself or spin off patents

'Seize the whip reins', cries banker

The essential guide to IT transformation

A shareholder has told RIM it should consider selling itself or spinning off its patent portfolio.

The CEO of Jaguar Financial Group, who would not say how large Jaguar's RIM stake is, told the company it should act to shore up share prices. He said his proposal has the support of other shareholders who together hold less than 5 percent of RIM.

Vic Alboini, CEO of Jaguar – a Canadian Merchant bank – wrote in an open letter to all shareholders: “The status quo is not acceptable, the company cannot sit still. It is time for transformational change. The directors need to seize the reins to maximize shareholder value before more market value is lost.”

He goes on to slate RIM for failing to come up with features that "inspire consumer enthusiasm" and for taking too long to get new products to market. Alboini also cites a comScore report detailing Blackberry's recent slide from first to third place in the US smartphone market and its dipping market share from 39 per cent to 22 per cent in the 12 months ending 31 July 2011.

The letter is indicative of the financial pressures that the Canadian company is under.

It comes after confrontations at the RIM AGM in July, where CEOs faced complaints about poor share performance in comparison with Apple and Google. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?