NEW YORK ( TheStreet) -- You remember Potash ( POT)? They're the Canadian company a whole bunch of foreigners, particularly some Aussies, wanted to buy. Long story, stated short -- the Canadian government squashed that noise. Wasn't going to happen.Don't talk to me about revenue or market cap or natural resources, it's all about perception, image and local economies, particularly in the Kitchener/Waterloo swath of Ontario (that's a Canadian province). BlackBerry ( BBRY) matters to Canada and Canadians. As such, it will not get sold, at least not to a foreign entity. In fact, despite the outrage it will undoubtedly trigger in many circles of society, it's more likely that Canadian regulators would approve some sort of deal where telecommunications and media giants, Rogers Communications ( RCI) and BCE, Inc. ( BCE) (formerly Bell Canada), get in on the action.
That's priority number one: Keeping BlackBerry Canadian. All of this talk about how valuable the artist formerly known as RIM would be to Microsoft ( MSFT), Amazon.com ( AMZN) or Facebook ( FB) -- it's crap. Hot air. Logical in theory, maybe, but absolutely not going to happen impossible. BlackBerry -- as a brand, as an assemblage of parts, as a company with a massive subscriber base -- has just as much to value to Rogers and Bell, joint owners of "everything" that lives and breathes in Canada, including the most valuable franchise in the National Hockey League, the Toronto Maple Leafs, as it does to MSFT, AMZN or FB.
Here's the disconnect (I despise corporate buzzwords like that, but whatever . . .): There's no respect for Canada in the U.S. And that stinks. These folks predicting a foreign buyout of BlackBerry never once consider the thoughts of Canadian society or the superior Canadian economy. YES, superior. They also underestimate Canada's strong position in the new media hyper-revolution and BBRY's opportunity in God's Country and beyond. Case in point, I was at the New York Rangers/Toronto Maple Leafs game Wednesday night at Madison Square Garden . . . . First, thanks to @CraigScott31 for the amazing seat and bringing me with. And, second, check out this freaking view!
That's a little tiny personal story that illustrates a larger point. We're a bunch of arrogant bastards in America, namely on Wall Street. And we throw around issues pertaining to Canada's national pride and wellbeing with an ease that assumes Canada has no say in the issue. They do. They proved it with Potash. And, if it comes down to it, they'll prove it with BlackBerry. That's good for Canada and, you better believe it, better for America than somebody like Microsoft taking RIM and driving it further into the ground. Follow @rocco_thestreet -- Written by Rocco Pendola in Santa Monica, Calif.