Comments on: Mystery Investor Loans Palm $50 Million
An unknown investor has loaned Palm Inc. $50 million, which it will use "to strengthen its balance sheet and to support wireless and enterprise initiatives." These are two of the company's most important current goals: getting out a new handheld with built-in wireless capabilities and increasing sales to large companies. Clearly the price war with its competitors and slowing economic conditions have cut into Palm's cash reserves, as shown by its recent round of lay-offs, and the company is in need of ready funds to accomplish these critical goals.
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