Blackberry maker RIMM reported last night and the results weren't quite good enough if you're not a patient woman. The stock was at $35 and change at the March low. The stock hit $85 before the correction started last week.
If a stock goes up 140%, expectations for near-term performance usually go up dramatically as well.
On April 2, I wrote the following:
"I'm looking for a 1 - 3 quarter spurt of margin discipline and a pop in the stock followed by a resumption of the innovation-rules construct - if RIMM can't get back ahead of the pack, the stock is not going to work longer-term."
RIMM isn't doing a bad job, it just got caught by Apple and maybe Palm. It is going to struggle longer-term if it doesn't find a way to out-innovate again.
A bankruptcy judge took only 10 minutes to grant GM's request to cancel the leases on all 7 of its corporate jets. 7. Seven.
It would be very rare for all top 7 execs at one company to be flying somewhere different at the same time, or even the top 10. We can therefore infer that the 11th most important exec at a company that rarely made money was too cool and important to fly commercial.
""The leases are not necessary or valuable to [GM's] business activities," the automaker said in the filing."
Ummmm. That's a quote.