This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Were Previous BlackBerry 10 Comments Delusion -- or Lies?

NEW YORK ( TheStreet) -- Research in Motion (RIMM) is misshapen, compromised and malfunctioning, but outside of that, how do I like it?

Not so much.

Here's the deal: RIM has a serious problem with CEO Thorsten Heins. I realize he's a rookie and taking him to task appears a bit of a pile-on after the company reported first-quarter earnings that will go down in the annals of miserable quarters.

But there's more and it's important. RIM delayed its BlackBerry launch -- their last, best hope to compete against Apple (AAPL) and Google (GOOG) -- due to what they claimed were software code challenges. Problem is: until yesterday, Heins has given every recent indication that everything was fine with the new BlackBerry line. This means he is either delusional or lying.

Yet in an article called "RIM delays new BlackBerry launch; sales crumble," Reuters used the image of a puppy dying, but mentioned nothing about how management was apparently unaware of -- or, worse, unwilling to reveal -- trouble.

CNNMoney spoke about the earnings and BlackBerry delay, adding "the bad news isn't entirely surprising." The BlackBerry news was surprising, though. While Heins warned of an operating loss, he gave every indication it was full steam ahead for the BlackBerry.

The New York Times filled you in on that reality: "At several recent public events, Thorsten Heins, who became RIM's chief executive in January, said that the development of the new phones was on schedule and they would be available for the important holiday shopping season."

Now? Not so much. And that's a deal worth mentioning.
At the time of publication, Fuchs had no positions in any of the stocks mentioned in this column.

Marek Fuchs was a stockbroker for Shearson Lehman Brothers and a money manager before becoming a journalist who wrote The New York Times' "County Lines" column for six years. He also did back-up beat coverage of The New York Knicks for the paper's Sports section for two seasons and covered other professional and collegiate sports. He has contributed frequently to many of the Times' other sections, including National, Metro, Escapes, Style, Real Estate, Arts & Leisure, Travel, Money & Business, Circuits and the Op-Ed Page.

For his "Business Press Maven" column on how business and finance are covered by the media, Fuchs was named best business journalist critic in the nation by the Talking Biz website at The University of North Carolina School of Journalism and Mass Communication. Fuchs is a frequent speaker on the business media, in venues ranging from National Public Radio to the annual conference of the Society of American Business Editors and Writers.

Fuchs appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%
YHOO $36.67 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs