Hedge Funds: Small Firms Profit As Big Names Close In 2020
At the beginning of July, Lansdowne Partners, one of Europe's oldest and best-known hedge fund managers, announced that it was closing its flagship hedge fund after a run of poor performance. The closure is the latest in a string of high-profile hedge funds that have decided to shut up shop in recent years. Billionaire investor Read More
It’s reported via four people that Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) could hire a financial advisor in hopes they can salvage their company. They are hoping to reach a conclusion in the next few days.
Last month the company said that they would have to gauge changes and redefine their strategies after losing market shares to smart phone competitors Apple and Android. The company also lost two of their key executives within the past month- the vice president of Blackberry Messenger Service Alistair Mitchell left and senior vice president Alan Brenner.
The month before that, Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) lost former co-chief executive Jim Balsillie, chief technology officer David Yach, and global chief operations Jim Rowan. Apparently, many of their employees have lost faith in the product.
They currently looking into various options which may or may not include a software licensing agreement. Ideally, they would rather find a financial institution that would help them license a deal for Blackberry 10. The one thing Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) does not want to do is sell their company.
It is further speculated that if this company licenses their patents, Samsung and Microsoft would most definitely indicate their interest.
I really hate to say it but I think the future of Blackberry is bleak. And while I don’t blame them for not wanting to sell their company, it would probably be their best bet if another company was willing to take that risk and make an offer.
This isn’t to say that their current talks of potentially saving the company will go in vain, it’s admirable that they have continued to hold on for so long. Perhaps someone will take notice and offer RIM Research In Motion Limited (USA) (NASDAQ:RIMM) an opportunity.
In the meantime, Blackberry sales continue to lag and investors continue to lose faith. If RIM Research In Motion Limited (USA) (NASDAQ:RIMM) does not make a positive change in the near future, they will probably go out of business within six months.