Feeds

Shareholder demands RIM sell itself or spin off patents

'Seize the whip reins', cries banker

New hybrid storage solutions

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. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.