Former RIM Co-CEO Jim Balsillie Dumps His Remaining Stock

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News Posted: Thu, Feb 14 2013 11:31 PM
We've always heard that you can't take it to your grave, but one has to wonder why the former co-CEO of Research In Motion chose now to dump every last bit of remaining RIM stock. Jim Balsillie has liquidated his shares in RIM, leaving him zero shares, zero power to vote, and zero percent of class. He sold everything. A year ago, he still help 5.1% of the whole company, and now, he's powerless over it. In December of 2011, Balsillie had 26,840,490 shares of RIM stock. Even with RIM's amazingly low stock price of around $11, he's still coming out with nearly $300 million.


But the timing here makes you wonder: does the man that helped form the company have no faith left? You could assume that him holding onto his stock a bit longer would signal his faith that BlackBerry 10 would act as a savior to the company. By selling now, it sure seems that he feels things are only going to get worse. Of course, he may have just been tired of waiting, or needed a down payment on a new mansion. Whatever the case, he's free and clear of RIM now, while the company itself can't quite wash its hands just yet. There's a lot of work left to be done from the inside.
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sevags replied on Fri, Feb 15 2013 1:19 AM

Yups he clearly has no faith in BB turning its present condition around or at least not any time soon. I am trying to think of other possible reasons and the only one that would make any sense at all is if he was having internal problems within BB most likely personal or needed to break ties with the company in order to enter a contract with a conflicting company? But even then if you thought that the stock would rise in just the comming months possibly doubling your investment or more what contract or dispute would keep you from riding it out and cashing in? none... BlackBerry 10 might not have been the answer afterall...

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3vi1 replied on Sat, Feb 16 2013 9:29 PM

>> Even with RIM's amazingly low stock price of around $11, he's still coming out with nearly $300 million.

Good for him. He should totally get more than I've made in 30 years for whatever the hell it is that he did that tanked the *** out of blackberry. Also, why don't we offer them our wives?

What part of "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" don't you understand?

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