BlackBerry Forums Support Community
              

Closed Thread
 
Thread Tools
Old 11-04-2013, 08:53 AM   #1
NJBlackBerry
Grumpy Moderator
 
NJBlackBerry's Avatar
 
Join Date: Aug 2004
Location: Somewhere in the swamps of Jersey
Model: SGS7
Carrier: Verizon
Posts: 27,948
Default Heins out; Fairfax to invent $1bn.

Please Login to Remove!

From today's Wall St. Journal

BlackBerry Ltd. has abandoned its plan to sell itself and instead will sell $1 billion of convertible debt to its major shareholder, Fairfax Financial Holdings Ltd. and other institutional investors, the company said Monday.

The company also said it will replace its chief executive, Thorsten Heins. It said John Chen will act as interim CEO.

Struggling to compete with bigger rivals, the Canadian smartphone market had agreed to a tentative deal in September to sell itself to Fairfax for $4.7 billion, but the Canadian company struggled to raise financing for the deal.

BlackBerry was recently down about 18% in in pre-market trading in New York.
Offline  
Old 11-04-2013, 10:02 AM   #2
ZombieBerry
BlackBerry Extraordinaire
 
ZombieBerry's Avatar
 
Join Date: Sep 2010
Location: Toronto
Model: Priv
OS: 5.1.1
PIN: 2AB9C463
Carrier: WIND
Posts: 2,362
Default Re: Heins out; Fairfax to invent $1bn.

Guess Watsa couldn't secure the funding for an outright purchase. Unless they go back to a private model and buy all their shares back, I'm not really interested in what BlackBerry does anymore. Clusterf*#$, after clusterf*#$.

Heins should get SFA.
__________________
fere libenter homines id quod volunt credunt
Offline  
Old 11-04-2013, 12:59 PM   #3
NJBlackBerry
Grumpy Moderator
 
NJBlackBerry's Avatar
 
Join Date: Aug 2004
Location: Somewhere in the swamps of Jersey
Model: SGS7
Carrier: Verizon
Posts: 27,948
Default Re: Heins out; Fairfax to invent $1bn.

I am sure this can be spun that he could of course get funding, but not on acceptable terms. Which means he couldn't get funding. So instead he tosses in $250mm (not $1bn - the rest comes from others) and effectively puts his team in charge.

SFA? In any event, Mr. Chen can't do worse than Heins & Co. At least he was able to take another tech company and sell it off.

An excellent article in today's NY Times; Watsa jumps to the front of the line if there is a bankruptcy, has a 6% load deal with BlackBerry and makes a fortune if (and nothing is a bigger if) BBRY stock goes over $10.

Win/Win.

For ordinary shareholders? Not so much.
Offline  
Old 11-04-2013, 01:11 PM   #4
ZombieBerry
BlackBerry Extraordinaire
 
ZombieBerry's Avatar
 
Join Date: Sep 2010
Location: Toronto
Model: Priv
OS: 5.1.1
PIN: 2AB9C463
Carrier: WIND
Posts: 2,362
Default Re: Heins out; Fairfax to invent $1bn.

Quote:
Originally Posted by NJBlackBerry View Post
I am sure this can be spun that he could of course get funding, but not on acceptable terms. Which means he couldn't get funding. So instead he tosses in $250mm (not $1bn - the rest comes from others) and effectively puts his team in charge.

SFA? In any event, Mr. Chen can't do worse than Heins & Co. At least he was able to take another tech company and sell it off.

An excellent article in today's NY Times; Watsa jumps to the front of the line if there is a bankruptcy, has a 6% load deal with BlackBerry and makes a fortune if (and nothing is a bigger if) BBRY stock goes over $10.

Win/Win.

For ordinary shareholders? Not so much.
SFA = Sweet F&^% All
__________________
fere libenter homines id quod volunt credunt
Offline  
Old 11-04-2013, 04:25 PM   #5
NJBlackBerry
Grumpy Moderator
 
NJBlackBerry's Avatar
 
Join Date: Aug 2004
Location: Somewhere in the swamps of Jersey
Model: SGS7
Carrier: Verizon
Posts: 27,948
Default Re: Heins out; Fairfax to invent $1bn.

OH THAT - yes.
I guess he tried his best. Was dealt a terrible hand, went all in and lost.
Offline  
Old 11-04-2013, 07:03 PM   #6
ZombieBerry
BlackBerry Extraordinaire
 
ZombieBerry's Avatar
 
Join Date: Sep 2010
Location: Toronto
Model: Priv
OS: 5.1.1
PIN: 2AB9C463
Carrier: WIND
Posts: 2,362
Default Re: Heins out; Fairfax to invent $1bn.

Can I be dealt a losing 22 million dollar hand?
__________________
fere libenter homines id quod volunt credunt
Offline  
Old 11-05-2013, 06:08 AM   #7
NJBlackBerry
Grumpy Moderator
 
NJBlackBerry's Avatar
 
Join Date: Aug 2004
Location: Somewhere in the swamps of Jersey
Model: SGS7
Carrier: Verizon
Posts: 27,948
Default Re: Heins out; Fairfax to invent $1bn.

That's the way the game is played. They keep falling forward.
Offline  
Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads for: Heins out; Fairfax to invent $1bn.
Thread Thread Starter Forum Replies Last Post
Fairfax makes a play for BlackBerry ZombieBerry BlackBerry In the News 8 09-26-2013 01:24 PM
RIM: Thorsten Heins wants to license BB10 software to other manufacturers Dubdub BlackBerry In the News 3 08-08-2012 08:06 AM


Robertshaw 41-229 Range Oven Igniter DG94-01012A for Samsung picture

Robertshaw 41-229 Range Oven Igniter DG94-01012A for Samsung

$19.60



For iPhone Android iOS PC 5.5MM WiFi Borescope Endoscope Snake Inspection Camera picture

For iPhone Android iOS PC 5.5MM WiFi Borescope Endoscope Snake Inspection Camera

$25.42



ERP DG62-00111A for Samsung Range Small Surface Burner Cap 1-5/8 inch Diameter picture

ERP DG62-00111A for Samsung Range Small Surface Burner Cap 1-5/8 inch Diameter

$16.25



Exact Replacement Part DG62-00070A for Samsung Range Surface Burner Medium Cap picture

Exact Replacement Part DG62-00070A for Samsung Range Surface Burner Medium Cap

$17.45



DG94-00520A for Samsung Range Oven Igniter Exact Replacement picture

DG94-00520A for Samsung Range Oven Igniter Exact Replacement

$22.85



Exact Replacement DG62-00067A for Samsung Range Surface Gas Burner Large Cap picture

Exact Replacement DG62-00067A for Samsung Range Surface Gas Burner Large Cap

$28.15







Copyright 2004-2016 BlackBerryForums.com.
The names RIM and BlackBerry are registered Trademarks of BlackBerry Inc.