Even a Person Who Took a Job at RIM Thinks It's a Joke
NEW YORK ( TheStreet) --Recently, I received an email from a reader. It unsettled, flattered and humbled me simultaneously.
Research in Motion (RIMM) offered a guy we'll call "Rex" a job at its Waterloo, Ontario, headquarters. Rex contacted me -- one of several writers who called the play-by-play of RIM's demise throughout 2011 and early 2012 -- asking if I thought RIM would be around in six months to a year and if the $2 billion in cash the Canadian company says it has is legit.
In short, he wanted my input to help answer a major work-life question: Should I quit a relatively steady and good-paying job, uproot myself to Waterloo, lease an apartment and go to work for a firm in disarray that might not even be around for the year or so I hope to stay there?
I was humbled and flattered because Rex thought of me, and unsettled because he was giving me the power to play some type of role in such an intimate decision.Of course, I provided a pretty non-committal, wishy-washy and frankly useless response:
I am not sure about the stability of the particular position, though I would guess they'll still be around in a year, but it might be a volatile situation. No doubt. Tough one, but, if they turn things around, you might be in a good spot.I guess I did not give Rex a completely hollow answer. RIM probably will be around in a year, in some shape or form. Things should continue to be volatile. And, if the company gets back on course, new hires and people who made it through the carnage will be part of the biggest corporate turnarounds of all time. In any event, I was certainly not going to tell the guy to "take the gig" or even to "run away." That's got to be his call. I didn't hear from Rex for several weeks so I emailed him, asking for an update. His reply offers insight for investors and folks who remain intrigued by what's happening at RIM. It also helps illustrate the delicate and pathetic position the company is in. RIM gets no respect because it doesn't deserve it. And it's definitely not fooling people who go through its interview process.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV