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(NBC News)   Blackberry bought a private jet in July, presumably to help fly in that load of pink slips that they needed a couple of weeks ago   (nbcnews.com) divider line 19
    More: Asinine, private jet, Nomura, companies of Canada, layoffs  
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940 clicks; posted to Business » on 23 Sep 2013 at 8:20 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



19 Comments   (+0 »)
   
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2013-09-23 09:21:07 AM  
Private jets are generally ordered years in advance. The contracts are such that you have to take delivery even if you can't afford it. On the up side they can resell it for what they paid (in boom times you can actually turn a profit).
 
2013-09-23 09:48:09 AM  

Dwight_Yeast: Private jets are generally ordered years in advance. The contracts are such that you have to take delivery even if you can't afford it. On the up side they can resell it for what they paid (in boom times you can actually turn a profit).


This.  They are selling it along with their two other aircraft.
 
2013-09-23 10:45:56 AM  
They could land it at Google
 
2013-09-23 10:53:01 AM  

Dwight_Yeast: Private jets are generally ordered years in advance. The contracts are such that you have to take delivery even if you can't afford it. On the up side they can resell it for what they paid (in boom times you can actually turn a profit).


To be fair, RIM has been deep in the shiatter for so long at this point that it's hard to imagine the purchase was long enough ago that it makes any sense.

Which in itself makes sense. It was probably ordered back when everybody EXCEPT Blackberry's executives were acknowledging the painfully obvious problems the company had and continues to have. Their willful ignorance of their own plight has been painful to watch.
 
2013-09-23 11:36:02 AM  
Blackberry's problem is the same that occurred in many other consumer electronics industries.  Basically, they lost the format war.  Every smartphone OS except Google/Android and Apple is going to fail.  This includes Microsoft and Blackberry.  This is no different than Beta video tapes, HD-DVD, or the Commodore Amiga and Atari ST.  The serious problem with Blackberry is that, unlike Microsoft, they have no other products, so they are headed towards bankruptcy.
 
2013-09-23 11:41:50 AM  
I can tell you that they definitely don't fly it. My office is about a hundred yards from their hangars. One of the Falcons still gets used occasionally, but the Global Express showed up and they might have done some training flights, but I have never seen it moving since then.
 
2013-09-23 12:00:41 PM  
Will someone please buy this company and put it out of it's misery? 4500 jobs dropped, billion dollar quarter losses, and announcing new models on iOS7 day.....it's just sad at this point.
 
2013-09-23 12:01:09 PM  
It's not like they flushed the money down the toilet. They can sell it pretty easily.
 
2013-09-23 12:06:33 PM  

jayhawk88: Will someone please buy this company and put it out of it's misery? 4500 jobs dropped, billion dollar quarter losses, and announcing new models on iOS7 day.....it's just sad at this point.


They have nothing of long term value, other than perhaps patents, which can be acquired cheaper in a bankruptcy auction when the inevitable happens, so there's absolutely zero reason for anybody to buy them out.
 
2013-09-23 12:24:05 PM  

Geotpf: which can be acquired cheaper in a bankruptcy auction when the inevitable happens


Given the current biatchiness between Samsung and Apple, with Google and Microsoft in the wings, that auction could net more than the company has been valued at since 2009.
 
2013-09-23 01:52:59 PM  

jayhawk88: Will someone please buy this company and put it out of it's misery? 4500 jobs dropped, billion dollar quarter losses, and announcing new models on iOS7 day.....it's just sad at this point.


According to CNN Money, someone just did.
 
2013-09-23 02:18:36 PM  
I wonder if the sale of the 3 planes is included in the $4.7B the Fairfax Consortium will be paying for BlackBerry.
 
2013-09-23 02:22:22 PM  

jayhawk88: Will someone please buy this company and put it out of it's misery? 4500 jobs dropped, billion dollar quarter losses, and announcing new models on iOS7 day.....it's just sad at this point.


About that...
http://dealbook.nytimes.com/2013/09/23/blackberry-reaches-4-7-billio n- takeover-deal/?_r=0
 
2013-09-23 02:32:42 PM  

MappingChick: jayhawk88: Will someone please buy this company and put it out of it's misery? 4500 jobs dropped, billion dollar quarter losses, and announcing new models on iOS7 day.....it's just sad at this point.

According to CNN Money, someone just did.


Who knew it would only take one request from a TotalFarker.  Now I'm considering a membership.
 
2013-09-23 03:01:47 PM  
filmdope.com
"How much is that in people?"
 
2013-09-23 03:08:14 PM  
Blackberry bought by an insurance company. How the mighty have fallen.
 
2013-09-23 03:25:50 PM  
What, subby, do you think they're going to stay on the island with all those angry villagers? Of course not! They're going to pull off a last-ditch, mcguyver-like escape and fly away to a nation that will both put up with them and ask few questions..
 
2013-09-24 12:25:48 AM  

kregh99: [filmdope.com image 320x240]
"How much is that in people?"


i.imgur.com

At $9/sh, $4.7B is a little over $1M/layoff, and $100K/person.
 
2013-09-24 01:24:47 AM  

skozlaw: Dwight_Yeast: Private jets are generally ordered years in advance. The contracts are such that you have to take delivery even if you can't afford it. On the up side they can resell it for what they paid (in boom times you can actually turn a profit).

To be fair, RIM has been deep in the shiatter for so long at this point that it's hard to imagine the purchase was long enough ago that it makes any sense.

Which in itself makes sense. It was probably ordered back when everybody EXCEPT Blackberry's executives were acknowledging the painfully obvious problems the company had and continues to have. Their willful ignorance of their own plight has been painful to watch.


Lead time on a Gulstream V was 5-7 years for a long time.  The wait list was so long, there was a second list, to buy ordered planes from companies that couldn't afford to take deliver, which is how companies have turned profits on private planes.

/This wasn't a Gulfstream, but something called a "Bombardier"
//that doesn't sound safe, does it?
 
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