Feeds

Shareholder demands RIM sell itself or spin off patents

'Seize the whip reins', cries banker

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Analysts: Bright future for smartphones, tablets, wearables
There's plenty of good money to be made if you stay out of the PC market
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.