More stark scenarios for RIM
“The status quo is not acceptable, the company cannot sit still,” Jaguar CEO Vic Alboini said in a letter to RIM’s board of directors. “It is time for transformational change. The directors need to seize the reins to maximize shareholder value before more market value is lost.”
And RIM’s lost plenty of that already. The company’s share price has plummeted more than 80 percent since June of 2008, when it hovered around $149. It has fallen nearly 50 percent this year alone, despite management’s “just you wait” assurances. So Alboini figures it’s about time RIM establish a committee of four or five independent directors to consider the company’s options if the big transition to the QNX operating system doesn’t rejuvenate the BlackBerry as hoped.