I discussed on Wednesday
, it was announced by a BlackBerry spokesperson that three more mid-level executives were leaving the company due to slumping sales. The departing executives, identified as vice presidents Doug Kozak, Carmine Arabia and Graeme Whittington, were first reported leaving by the
Canadian Broadcasting Corp.
What this means is the company still does not know its direction. Wasn't Phase 1 supposed to be the "restructuring process?" Heins said just last month that the company is in "Phase 2", which (to me) suggests the firings and the streamlining was over.
Investors need to ask a very important question: What is there that is left in BlackBerry to hang on to? This organization continues to look unorganized. I don't believe that removing itself from the public's view will ever matter. BlackBerry is done and finished.
I trust that BlackBerry longs will disagree. But just so I understand -- with declining performance standards coinciding with management's "new stance" on disclosure and transparency, how will privatization make this company be any better? BlackBerry wants to take its ball and go home. But it won't matter.
In fact, the only good that might come out this is Wall Street should now become more realistic about this company's recovery potential. It's not going to happen.
At the time of publication, the author was long AAPL
This article was written by an independent contributor, separate from TheStreet's regular news coverage.