Tag: board of directors

Rumor: Balsillie Wanted to Offer BlackBerry Network to Carriers for Low Cost Instant Messaging and Social Media

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Rumor has it that before Balsillie left RIM, he tried to convince the board of a plan to offer the BlackBerry network’s services to carriers, so they could route data and offload costs associated with small bandwidth data from instant messaging and social media. This plan, without knowing the exact details of it, makes a lot of sense and it’s too bad the board vetoed it. Imagine all the smartphones the carriers could sell if they could offer it with a free data plan that only extends to IM and social media. We’ve heard of plans like this in India, and North America and Europe could really benefit.
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RIM announces common share repurchase program

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RIM’s Board of Directors have authorized a share repurchase program to purchase common shares having an aggregate purchase price of up to US$ 1.2 billion, or approximately 21 million common shares based on current trading prices (representing approximately 3.6% of the currently outstanding common shares of RIM).

The Board of Directors feel that this program is in the best interests of RIM and its shareholders. While their motives were not explicitly stated in the press release, a share repurchase program is generally about increasing ownership of the company by reducing the number of outstanding shares. Overall, this company is going to continue to grow and the more control and ownership RIM has, the better.