There is more bad news for RIM today. Following the company's finacial disclosure yesterday, their sixth-largest investor is apparently pulling out. Bloomberg reports that Jarislowsky Fraser Ltd., has sold half of its stake in the BlackBerry maker, and is on the way to selling the rest.
“We are on the way out. The stake has been reduced by more than 50% or even more,” Stephen Jarislowsky, chairman of Jarislowsky Fraser Ltd., said today in an interview. The Montreal-based investment firm held 10.2 million shares of RIM at the end of the first quarter, worth about $361 million, according to RIM’s closing share price yesterday.
“They are resting on their laurels,” Jarislowsky said. "Steve Jobs is a much better marketer than RIM,’’ he said, referring to Apple’s chief executive officer.
RIM still has time to stay in the game, but they'd better make some massive changes. We love the tactile keyboard on BlackBerry devices, but the OS has got to be changed. It's simply too slow and way behind iOS and Android in the "coolness" factor.
“We are on the way out. The stake has been reduced by more than 50% or even more,” Stephen Jarislowsky, chairman of Jarislowsky Fraser Ltd., said today in an interview. The Montreal-based investment firm held 10.2 million shares of RIM at the end of the first quarter, worth about $361 million, according to RIM’s closing share price yesterday.
“They are resting on their laurels,” Jarislowsky said. "Steve Jobs is a much better marketer than RIM,’’ he said, referring to Apple’s chief executive officer.
RIM still has time to stay in the game, but they'd better make some massive changes. We love the tactile keyboard on BlackBerry devices, but the OS has got to be changed. It's simply too slow and way behind iOS and Android in the "coolness" factor.
