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Comments on: Palm Reportedly Officially Seeking Buyer

palm for sale Bloomberg is out with a widely referenced report this morning that states that Palm is seeking bids for the company as early as this week. The report claims that Palm has hired Goldman Sachs Group Inc. and Frank Quattrone's Qatalyst Partners to find a buyer according to the source. Last week's rumored suitors Taiwan's HTC and China based Lenovo have reportedly already looked and are potentially interested. Texas based Dell Inc is said to have already looked at Palm, but passed on a deal.

Naturally Palm, HTC and Lenovo have denied commenting on the latest developments so far. The article goes on to mention that other large Chinese phone companies, Huawei Technologies Co. and ZTE Corp., might also be potential suitors. Clearly something is in the air given the intensity of recent stock swings and the perpetual M&A rumors. Just last week CEO Jon Rubinstein was out giving interviews talking up the Palm turnaround narrative, while continuing to defend Palm's performance under the current challenges.

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End Game is Here!

surfmaniac @ 4/12/2010 8:44:09 AM # Q
Back up the dump truck at 5-6... but sell as soon as a deal is announced. Thank God I loaded up at 4. God Bless America and the pump and dumpers!
RE: End Game is Here!
SeldomVisitor @ 4/12/2010 9:51:08 AM # Q
Pump and dump...yes, I can believe that.

Though Palm easily could have decided to sell themselves, I don't see the reasoning behind anyone buying them at more than a couple bucks and believe THAT part of the latest rumor is just made-up crap to pump the price.

Note that Palm's BoD decided back in late 2006 that the best future for Palm was for it to be sold, so that same decision now isn't a surprise except to those who don't follow Palm.

RE: End Game is Here!
surfmaniac @ 4/12/2010 12:32:20 PM # Q
Not true, the stock never cracked much below four and that was with the shorts pounding the absolute hell out of it. Look for a deal at 7-8 and possibly higher since it looks like at least one of the Chinese companies is going to jump in (I would think HTC, since it makes the most sense) and at least one other company,resulting in a short-lived bidding war. And trust me, Rubenstein et al have been cooking this up for at least two months since the entire plan (from Elevation) was originally to prime these guys (get them profitable) and then to sell out... that's what private equity shops do, folks. Get used to it.
RE: End Game is Here!
surfmaniac @ 4/12/2010 12:36:34 PM # Q
Oh yeah, and check out the volume here. This isn't just shorts covering (although they are, big-time) but it's the hedge funds getting in to make a quick pop. And it's not a bad rule to always follow the hedge funds since they ALWAYS know what is going on before anyone else. Just my dos centavos...
RE: End Game is Here!
nastebu @ 4/12/2010 10:43:18 PM # Q
Sorry, but my inner pedant can't help but add two cents--HTC is Taiwan based, not mainland China based.
RE: End Game is Here!
surfmaniac @ 4/15/2010 8:26:32 AM # Q
Not according to the Chinese... but I take your point. Taiwan based, it is. Btw, check out the Harbinger filing. This could get very interesting.
RE: End Game is Here!
SeldomVisitor @ 4/15/2010 8:58:28 AM # Q
Better yet, check out Harbinger's historical performance.

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1b market cap

mabsut @ 4/12/2010 9:01:41 AM # Q
A billion current market cap? Is Palm really that much worth? A billion?
RE: 1b market cap
e_tellurian @ 4/12/2010 9:13:31 AM # Q
It's worth more than that.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: 1b market cap
hkklife @ 4/12/2010 9:40:04 AM # Q
Well, ET is sorta right--a lot depends through whose eyes you are viewing Palm and making the valuation. For someone like HTC or Google, the looming legal war might make Palm's mythical patent portfolio valuable at nearly any price. Or perhaps someone has become spooked and suitors for Palm are coming out of the woodwork. Or perhaps this is all speculation & manipulation. For someone like Apple, it'd be good enough to buy up Palm for any interesting IP, remove a distant competitor out of the market and give Jobs the pleasure of shitcanning Ruby and the ex-Apple staff all over again.

I personally think Palm's going to remain independent for the immediate future (ie between now and the next 3-4 months). The suitors are going to wait for the price to drop a bit more. I'm most curious to see what (if any) new hardware Palm has waiting in the wings. In my opinion, Palm management already EXPECTED to be bought out sometime in the past year and they have nothing tangible on deck to replace the Pre & Pixi (the c40 rumors have so far been fruitless) other than perhaps 16/32gb models once (if?) the current inventory glut is resolved. It's possible the AT&T-branded devices may be the final new releases of any sort to ever come out of Palm.

And I'm starting to doubt that there's a long-term WebOS 2.0 strategy as well. I think they have another 6 months' worth of minor improvements to WebOS 1.x and then that's it. In short, Palm management has quietly been looking for a good deal for Elevation to get a nice ROI ever since CES '09. So if someone buys Palm now, they could kinda/sorta keep things status quo...no more new WebOS handhelds, sell off the existing stock, crank out 1.x updates for the next 6-12 months, then EOL WebOS as a standalone OS and gradually migrate everyone over to Android-based devices (with a WebOS-flavored, Sense-style UI overlay of course). Lenovo would likely keep the Palm branding around for a while like they did a gradual rebranding and assimilated the old IBM lines: "IBM" Thinkpads were around for a couple years until gradually replaced by "Lenovo" Thinkpads, for example. Or the "new" Palm ownership could sell off the remnants of WebOS to Access for pennies on the dollar. Wouldn't that be grand?!?
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RE: 1b market cap
SeldomVisitor @ 4/12/2010 9:48:45 AM # Q
There are 240,000,000 shares after the Preferred are converted to common. round now Palm has about $400,000,000 in debt AND about $400,000,000 in cash IF they have been spending cash like they said they would be.

At the current $6/share, then, Palm's no-premium "buyout price" would be about $1.4 billion, plus or minus.

Palm itself values webOS at $22/device (see their latest 10Q) and their "patent portfolio" has no known value (no one appears to be licensing it, no one appears to be getting sued by Palm for using the patents without licenses, and Palm just joined RPX (HTC already a member).

Hmmm...


RE: 1b market cap
e_tellurian @ 4/12/2010 10:02:12 AM # Q
At what price must Palm stay at to stay a North American enterprise and build a Palm Classic?

Like they say if you can't afford the car don't kick the tires. It is one strategy to make Palm appear valueless and scare off investors so the price comes down. The way i see it is if you can afford Palm then you want to buy its true value. Though some always want to buy low to sell high. So why not keep Palms value at it's true price and if it cost too much then build ones own product to compete with Palm.

China is no longer a developing nation though that has been their status. It is misleading to call a developing nation a country in need of capital when they are out purchasing advanced technology building up their military and not investing in their infrastructure as agreed.

It seems odd that a democracy would help a totalitarian capitalist dictatorship with a history of human rights violations buy our intellectual content below it's value.

Just some thoughts.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

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Money talks?

e_tellurian @ 4/12/2010 9:05:11 AM # Q
What happened to those that never say die or quite?

Perhaps this has not been about keeping a North American brand but to sell and make a profit.

It is sad that North America can no longer afford a pioneer such as Palm. Not only does the brand leave North America so too does all the North American intellectual content

If this is true i hope all make money while the rest look for another job. Personally i do not know anything about China so my bounds are with in North America. Let's hope their is work for those that live in North America too. Though the war in the desert has really sucked up our cash flow. Good to know that will end in 2011.

China seems to continue to grow on the back bone of democracy. Odd seeing as China has nothing in common with a democracy as it is a totalitarian capitalist dictatorship.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: Money talks?
EdH @ 4/12/2010 3:04:02 PM # Q
e_tellurian What happened to those that never say die or quite?
I have never heard anyone say "never say die or quite."

Perhaps this has not been about keeping a North American brand but to sell and make a profit.
Right. Unless it is a charity, it is about making a profit.

It is sad that North America can no longer afford a pioneer such as Palm. Not only does the brand leave North America so too does all the North American intellectual content
Huh? Who said it would leave North America? A lot of companies in NA are owned by foreign entities. Even if Palm did leave, so what? We still have Apple, Microsoft, Boeing, Lockheed Martin, Facebook, RIM, Evernote, Twitter, Google, et. al. I'd say everyone I just mentioned has FAR more innovation in their pinky than Palm does and those are all North American companies.

If this is true i hope all make money while the rest look for another job. Personally i do not know anything about China so my bounds are with in North America. Let's hope their is work for those that live in North America too. Though the war in the desert has really sucked up our cash flow. Good to know that will end in 2011.
I don't even know where to begin on this one. It is so far out of bounds I am not sure it even qualifies as a non sequitur. There is a fine line between non sequitur and totally irrelevant. I am pretty sure you crossed it at about 100mph.

RE: Money talks, people's thoughts create the value
e_tellurian @ 4/12/2010 6:13:37 PM # Q
The bit about the war was my fault. You see before the war 1999/2000 a bunch of us where sharing thoughts about building virtual wallet now called we-com virtual wallet. Then 9/11 happened and i stopped hearing from some of my crew. The logic is that some of those people were compromised by the old Saddam regime that could have chosen solar technology to solve their energy problem unfortunately chose war. Some of the people that went off to help win and sustain the peace in the desert may have shared their thoughts.

Before there is any tangible product one must start to think. It is the thoughts too that offer content value, the intellectual component. If Palm leaves North America regardless of emotion the reality is the intellectual content from Palm will leave North America. Sure we have other North American companies, however, if we can not afford them they will end up like IBM. Now Palm is in the same situation.

Perhaps Palm is the line in the sand where people stand up and understand that we will lose our choices if we can not afford them. People have lost their homes, jobs and choices as a consequence of a compromised economy. We can not compete with a totalitarian capitalistic dictatorship they have no middle class ( no innovative component of their economy) that is why they are shopping in North America and around the world. China does not seem to be an emerging economy is is an economy. Our prices have been driven down so low that we are now being purchased by China. At some point we need to understand that China is not an emerging economy they are now competing with us for jobs and capital.

The reality is now China seems to be in a position to buy Palm and North America does not appear to be able to counter the offer.

Palm needs to offer more to show they are still the enterprise that has earned them the title of pioneer and the brand Palm. Perhaps a Palm Classic can offer such a choice.

Just some thoughts to kick around.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

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Elevation Preferred Shares Value

2klbs @ 4/12/2010 2:27:45 PM # Q
Hey SV,

Didn't you share some insight into potential payout and redemption of EP shares in event of a buyout?

I've been digging here and the Yahoo Finance Forums but can't locate what I thought I saw..


Not "Pre-verted"- Android Assimilation?

RE: Elevation Preferred Shares Value
SeldomVisitor @ 4/12/2010 3:13:32 PM # Q
I've never deeply thought about it - just shallowly - EP has about $470 million in Palm, about $375 of that is in Preferred shares that get theirs before common shares get there. Somewhere around here I enumerated almost their entire stake but didn't get the "warrants" right, I think... Let me find the Yahoo post...one moment!...found it:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_P/threadview?m=tm&bn=13738&tid=387544&mid=387558&tof=-1&rt=1&frt=2&off=1

What it all means is EP can accept a lower price than most common shareholders.

However...this is now moot since Palm JUST said their patents are worth $9/share!

Lol!

Of course, you have to BELIEVE that number....ha ha ha!

RE: Elevation Preferred Shares Value
SeldomVisitor @ 4/12/2010 3:19:22 PM # Q
My very bad - Palm did not place that silly $9 value on its patents, Patentvest did.

That it, the valuation is as useless as it is silly.

RE: Elevation Preferred Shares Value
2klbs @ 4/12/2010 5:16:01 PM # Q
I'm not well enough informed on Patentvest to make an opinion on how sage the valuations are, but I seem to recall they were contributing heavily at various points to the great Palm Buyout Thought Experiment (AKA Palm Pump Feeding Frenzy) that may be turning to reality- but one of their "metrics" was/is how often a company's patents are cited in new patent filings, and the CEO intuited in a number of references that Samsung should be a suitor by following his logic.

Who knows, it may be a self-fulfilling prophecy considering their valuation is talking into account share value run-up on all the speculation of acquisition, but they seem to make a lot of news buzz on similar prognostications of Callaway Golf and Verizon, among others. Parent Company MDB Capital's angle should likely been taken into account too.

Interesting that Palm doesn't even break the top 20 on IEEE Spectrum's Patent Scorecard
Not "Pre-verted"- Android Assimilation?

RE: Elevation Preferred Shares Value
SeldomVisitor @ 4/12/2010 5:49:12 PM # Q
I'll reserve further comment on Patentvest's valuation quality.

However, the original words by PatentVest included ones along the line of (paraphrase):

== "...Patents are valued by number of licenses but Palm doesn't have any
== of those so we'll just go with patents cited by others patents instead this
== time..."


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Bueller? Gekko?

mikecane @ 4/12/2010 5:55:26 PM # Q
What a time for Gekko to get his hormones in a twist and go on a "vacation" to Thailand.

Put on your pants and get back here, Gekko.

All the kids are yapping and we need your, ahem, expertise.

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MS KIN?

mikecane @ 4/12/2010 6:01:55 PM # Q
I have paid ZERO attention to Microsoft's latest announcement other than to be forcibly told it's called KIN (we'll see how long Amazon with its KINdle trademark lets that go on).

Anyway, anyone see anything there that would affect this Palm sale? Make its value go either up or down?

RE: MS KIN?
hkklife @ 4/12/2010 6:16:41 PM # Q
No this is going to be a flop for M$ on the level not seen since Bob & Win ME. I am absolutely certain now that they have basically thrown in the towel and are content with coasting along ad infinitum by owning the desktop PC market (Wintel), the Office monopoly, and maintaining a solid 2nd place status with Xbox. These guys have NO clue about the mobile sector. They didn't have a clue with the first PocketPC & WinCE releases and they still don't have a clue! Project Pink/Kin ain't going to do anything. And what's a device like that doing on VZW??? That's a machine with T-Mobile or Sprint written all over it (or Boost or TracFone or MetroPCS etc)! VZW needs to step up their hardware game ASAP, as they have had nothing worth writing home about since the Droid last year.


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RE: MS KIN?
mikecane @ 4/13/2010 6:56:11 AM # Q
So I can go on blissfully ignorant of it? That's a relief.
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If only you knew how funny this all is. Where's the BEEF? Ruby?

Fake Jeff Hawkins @ 4/13/2010 2:30:28 AM # Q
The people running Palm should be in jail. Really.

Potential buyers only have to wait a couple more months and Palm will be at penny stock levels. Palm's income this quarter is nonexistent and they have been abandoned by their few remaining carriers. iPhone 4 is coming; iPhone on Verizon, etc is coming; a dozen Android phones are coming; and Palm is holding an empty bag.

Ironically, Palm's carefully orchestrated Smoke & Mirrors demo of the alpha version of WebOS at the 2009 CES was a bit TOO successful. (hkklife: guess why they never let anyone actually try out those phones on their own? And what was the clockspeed of those demo units?) Palm hoodwinked a lot of naive people who failed to bother looking "behind the curtain", resulting in the stock getting pumped higher than was desired for a quick sellout. Palm then was put in the uncomfortable position of actually having to deliver and support devices instead of being able to cash out with a quick PalmSource-style profit and ride off into the sunset.

Nokia, HTC, Dell, Microsoft, Apple, Lenovo, Samsung, Motorola... these companies are all smart enough to do due diligence. Clueless sugar daddies like the rapidly imploding ACCESS (a dead company walking) don't exactly grow on trees.

Palm is possibly the most manipulated stock EVER in the history of the stock market. Business schools should offer a course on the history and mechanisms of these manipulations... If you can find it, rent a copy of the movie, Startup.com. That movie has become Palm's nightmare come true. Elevation Partners will make or break its future based on how well they end up bluffing the fact that Palm is holding NOTHING. Grab some popcorn, sit back and watch the drama unfold.

RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
SeldomVisitor @ 4/13/2010 4:00:18 AM # Q
And the OTHER kicker is, of course, now that a story has been released saying Palm wants to sell itself, only insane carriers who couldn't care less about the future support or availability of their products will buy their devices.
RE: If only you knew how funny this all is. Where's the BEEF? Rub
nastebu @ 4/13/2010 5:38:03 AM # Q
On this topic, what is the advantage for Palm of putting itself up for sale? I'm ignorant of these kinds of things and have never heard of this before. Didn't Palm just essentially announce that it can't imagine going on as an independent company?

I would *guess* that the advantage would be to the stock holders?

RE: If only you knew how funny this all is. Where's the BEEF? Rub
mikecane @ 4/13/2010 6:55:10 AM # Q
Oh, China has a lot of companies who will Believe just as ACCESS Believed.
RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
SeldomVisitor @ 4/13/2010 7:10:25 AM # Q
In the latest Bloomberg interview, Peter Misek touches on exactly the thought that, now that it has been outted that Palm has been trying to sell itself for months, not only will CARRIERS start getting antsy about Palm, but so will suppliers. See the videos at the bottom of this article:

http://tinyurl.com/miseksays

RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
SeldomVisitor @ 4/13/2010 7:12:35 AM # Q
The idea behind selling oneself is to return value to shareholders - they COULD simply burn up all value and go out of business, but then their shareholders get stuck with zero ROI. By selling themselves earlier in the game they return something to their shareholders.

BoDs are REQUIRED to think about shareholders.

And apparently they've been on the block for months already.

RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
2klbs @ 4/13/2010 7:54:16 AM # Q
SeldomVisitor wrote:
And the OTHER kicker is, of course, now that a story has been released saying Palm wants to sell itself, only insane carriers who couldn't care less about the future support or availability of their products will buy their devices.

Get ready for a C&D to be served given you have just disclosed Motorola's business plan.
Not "Pre-verted"- Android Assimilation?

RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
hkklife @ 4/13/2010 9:32:01 AM # Q
FJH;
Funny you mention that. After the Pre's retail release last year, when I was SO underwhelmed with its performance, I went back and dug through all of the footage I took at CES as well as some other videos floating around online. There's simply no comparison between the snappy performance between those Alpha/Beta Pre shows an CES '09 and what is was on an actual shipping Pre. Palm must've juiced those suckers up to at least 700Mhz and, presumably, had no telephony stack in place to slow down system processes.

I haven't played with a WebOS device since prior to the 1.4 update but I cannot imagine it makes THAT much of a difference speed wise. Watching the videos online of some of those overclocked Pre shows that is what it takes to approximate the peformance we saw at CES (albeit at the expense of the already miserable battery life!)

Just because they said the demo units at CES were clocked at 600Mhz doesn't mean at all that's what they were actually running at. And if they were stock clocks, then a lot of other "stuff" must've been stripped out to ensure that they had blazing-fast performance.
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RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
SeldomVisitor @ 4/13/2010 10:09:51 AM # Q
> ...Palm must've juiced those suckers up to at least 700Mhz and,
> presumably, had no telephony stack in place to slow down system
> processes. ..

If true, perhaps this is why the way-apparently-honest CFO left the day before.

RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
Fake Jeff Hawkins @ 4/15/2010 2:02:27 AM # Q
"And the OTHER kicker is, of course, now that a story has been released saying Palm wants to sell itself, only insane carriers who couldn't care less about the future support or availability of their products will buy their devices."

Newsflash: Palm has been trying to sell itself for YEARS. They haven't been able to find any takers because the Board priced the company at over 2 billion. So far Palm has opened the kimono to at least 4 major players who have then walked away. Palm would have been sold in 2007, 2008 or 2009 were it not for the manipulations and unfettered greed that have defined its existence.

"Oh, China has a lot of companies who will Believe just as ACCESS Believed."

The Chinese aren't fools. They didn't take over half of the West's economy by being patsies. Unfortunately, the trailer trash buying cartloads of "Made in China" junk with their welfare checks are just too dimwitted to realize that China's government-sponsored forays into the "free" market are the reason why Bubba-Joe and Becky-Sue no longer have jobs.

"FJH;
Funny you mention that. After the Pre's retail release last year, when I was SO underwhelmed with its performance, I went back and dug through all of the footage I took at CES as well as some other videos floating around online. There's simply no comparison between the snappy performance between those Alpha/Beta Pre shows an CES '09 and what is was on an actual shipping Pre. Palm must've juiced those suckers up to at least 700Mhz and, presumably, had no telephony stack in place to slow down system processes.

I haven't played with a WebOS device since prior to the 1.4 update but I cannot imagine it makes THAT much of a difference speed wise. Watching the videos online of some of those overclocked Pre shows that is what it takes to approximate the peformance we saw at CES (albeit at the expense of the already miserable battery life!)

Just because they said the demo units at CES were clocked at 600Mhz doesn't mean at all that's what they were actually running at. And if they were stock clocks, then a lot of other "stuff" must've been stripped out to ensure that they had blazing-fast performance."

No offense, hkklife, but you got "played" by Palm at the Pre intro. Look back at the event and you'll see how you got caught up in the carefully-contrived "excitement" that the Palm ringmasters had created for the "Greatest Vaporware Demo on Earth". Not a single person in attendance at the demos did a little investigative journalism to see the truth behind the curtain. Do you remember how someone hacked into a Foleo during Palm's demo in San Francisco a few years ago and exposed its feeble processor speed, etc? Surely at least ONE person at the Pre demo could have rooted the phone or run a few Linux commands on it. Give a pro a Pre for 60 seconds and get a real "review" instead of the dozens of gushing stock price pumping fanboi/fluffer pom-pom "reviews" that we saw after the Pre demo. Skillman's lucky none of my power user buddies in SF were invited to the demo - they would have stopped his ultra-rehearsed, over-scripted demo, exposed the alpha nature of Web OS and made him piss his pants. Seriously.

FJH

Media Manipulation 101
Fake Jeff Hawkins @ 4/15/2010 2:11:35 AM # Q
hkklife: Watch one of Peter Skillman's Pre demos and tell me he wasn't a snake oil salesman in a previous life...
RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
hkklife @ 4/21/2010 2:36:45 PM # Q
I highly doubt anyone would have gotten a chance to root or otherwise delve into a Pre at CES seeing as how there were just a handful of units on display and they were all held in the very tight clutches of Palm staff behind invite-only doors. They wouldn't even pull up a website unless they knew it would render properly or was bookmarked. We could fondle the Touchstone all day long but at best were allowed to touch a fingertip to the Touchstone-compatible back of a Pre.

Aside from the space wasted by the gesture area, the missing microSDHC slot, and the wacky build quality (all easily fixable), I don't think the Pre's a bad formfactor at all for a mid-tier smartphone with a physical keyboard. And the Pixi is also a solid design that just sorely needs a few similar upgrades.

It's just that Palm's combination of a poor marketing moves + a buggy, half-baked OS + major cost-cutting on the hardware undermined what would otherwise be two solid devices. If Palm could continue to flesh out the Pre & formfactors (as they did in the T|T & T|E series) both could eventually become very nice low & midrange devices by the 3rd generation. It's a shame Palm cannot fund a three-model lineup with an Evo or Droid-style flagship handset.
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RE: If only you knew how funny this all is. Where's the BEEF? Ruby?
SeldomVisitor @ 4/24/2010 5:48:33 AM # Q
hkklife wrote:
Palm must've juiced those suckers up to at least 700Mhz and, presumably, had no telephony stack in place to slow down system processes.

I just searched for my Yahoo posts around the time of the CES 2009. Found one:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_P/threadview?bn=13738&tid=315401&mid=315401

Giggle.

Reply to this comment

It's Dead, Jim

mikecane @ 4/14/2010 3:39:40 PM # Q
Once again Mike Cane finds an excuse not to buy. SHOCKER! Not.
Fake Jeff Hawkins @ 4/15/2010 4:42:50 AM # Q
Every 6 months for the past 10 years we've seen the same pattern:

1) Product A gets announced.
2) Mike Cane is everywhere on the Internet posting a flurry of manic messages 24/7 on every website dealing with Product A.
3) For months he continues to obsess about the upcoming next-generation device, even though he continues to use a 5 or 10 year old PDA picked up for $20 on eBay as his primary device.
4) He creates a blog about the new device and posts hundreds of links to his blog at Palminfocenter and other sites, begging for attention, hoping someone actually gives a damn what he's ranting about.
5) As the device's release date nears, Mike Cane's mania kicks into overdrive and he posts roud the clock screed to dozens of websites. He stops taking his lithium and the manic phase reaches its crescendo the day before the device is released.
6) On the day the device is released he rushes down to the local sellers and spends 1 hour playing with (or "fondling" as he bizarrely terms it) the device as salespeople glare at him knowing all too well that he has no intention of buying the device.
7) Mike Cane then rushes back to his dingy hovel of a basement apartment in The Village and sends off a barrage of posts ranting about how much he hates the device, how "wrong" the design is, how many features it is missing and why he won't be getting the new device.
8) One week later, he picks a new device (Product B) and starts the whole process all over again.

How... odd.

And tiresome.

If he actually BOUGHT anything, his behavior may seem slightly less psychotic. Instead, it just come across as disturbed, serial obsessional ranting.

iPad
Palm Pre
Nokia Internet tablet
Archos media Player
iPhone
iPod Touch
Netbooks
LifeDrive (oh wait - didn't he eventually buy a broken one from eBay only to complain about it for the next 2 years?)
eBook readers
etc., etc.

Year after year.

Do us all a favor, Mike: don't post anything else here unless it's about a device that you actually OWN. And get back on your lithium, Sweetie.

Love,
Mom

RE: short selling
e_tellurian @ 4/21/2010 1:14:07 PM # Q
Are some here short selling Palm? Seems some are trying to profit by driving down the price of Palm. Innovation is a better way to enhance value ... though people will try to short sell new innovation if they can. Is this type of trade helpful to North America?

http://en.wikipedia.org/wiki/Short_(finance)

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: It's Dead, Jim
mikecane @ 4/21/2010 5:22:54 PM # Q
>>>He creates a blog about the new device

Update your stalker files, Skippy. Until the iPad, the Pre site was the only one I've ever done for a product.

And hey, when PIC goes away, so will your lunatic ramblings. Which is what you've always counted on, coward.

Michael Cane device history
Fake Jeff Hawkins @ 4/25/2010 10:44:10 AM # Q
CLIE S320 initially leant to him and subsequently stolen?

LifeDrive - purchased broken from eBay?

Nokia N770 - given to him free by some idiot at Nokia who thought he could get free publicity out of Mikey?

Michael talks big but fails again and again to put his money where his mouth is. Time and time again he finds excuses to not buy any new devices.

Do yourself a favor, Michaael: buy a new Sprint Centro 2 (128 MB) for $100 - $150 from eBay if there are still any left. Use it without activation or use a corporate discount to get a Sprint plan for around $20/month (my 500 minute Sprint plan costs me $12/month after all discounts). Join the rest of us in the modern age of Fall 2007. Don't be afraid, Little One.

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Helpful or not?

e_tellurian @ 4/21/2010 1:26:46 PM # Q
Do people that short sell also try to discredit intellectual content? Is it the same mind set? Essentially they make money when something fails ... strange concept. What happens when you have more people making money from failure? What eventually happens to an economy when everything starts to fail as a consequence of more people wanting failure than success. Thinking globally how does short selling help North America?

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: Helpful or not? False Boogieman
SeldomVisitor @ 4/21/2010 2:16:12 PM # Q
The short interest fro Palm has been astronomical for (much) more than a year and, as a percent of total outstanding shares, really hasn't changed that much.

That is to say, blaming shorts who are IN position with Palm for the decline in Palm's stock price is silly - it is selling that takes a price down. If the short interest, relatively speaking, isn't changing then some OTHER type of selling must be driving the price down (or...you know, greater supply...ECON 101).

Some other type of selling!? What could THAT be!?

Oh...yeah...people getting out of the stock because they think Palm is failing.

How surprising.

Same reason the shorts got into position a long time ago.


RE: Helpful or not?
e_tellurian @ 4/21/2010 4:58:45 PM # Q
Does short selling hope/bet an enterprise/stock will fail? Perhaps our North American market has gotten too used to selling short that we no longer encourage long term successful investment.

Do the short sellers want to hear a stock is failing? If enough people want failure is that what one gets? Do we need more positive thinking investment to over come the demand for failure?

Does innovation help balance those that that want failure by encouraging a more positive out look? Does a more positive out look encourage long term investment?

Does an enterprise that incorporates high tech metals and precious metal into their product enhance the value of their product thus encouraging long term investment in quality and value?

Thanks for your thoughts.

E-T


e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: Helpful or not?
e_tellurian @ 4/21/2010 5:14:20 PM # Q
What is worth more titanium or plastic? What is worth more gold, silver, platinum or titanium? Building value into ones products can unlock hidden value my increasing the actual quality vs. perceived quality.

Is it more expensive to bring up the quality? Will people pay more for a titanium Palm then a plastic Palm? Will people pay more for a gold, silver or platnium Palm then a plastic or titanium Palm.

The metal must be real not plated unless that is what the customer wants. One can alway pay to re plate and some want it to be real. Different market for different wants differentiate not just plate.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: Helpful or not?
e_tellurian @ 4/21/2010 5:26:09 PM # Q
One could call the high end of Palm a signature series by having the founders of Palm engrave their signature on the back or on the inside of the units. To put their signature on each unit is like a stamp of approval. If its good enough for the founders to sign off on it must be another great Palm offering.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

RE: Helpful or not?
hkklife @ 4/21/2010 6:51:35 PM # Q
http://en.wikipedia.org/wiki/File:JayMiner_Mitch.jpg

http://en.wikipedia.org/wiki/Amiga_1000

The problem with that idea, E_T, is that NONE of the original Palm founders remain connected in any way,shape, or form with the company. The Palm Inc of 2009/2010+ in no way resembles the Palm Computing of the early to mid '90s. They all took their $ and ran for the hills (or, in some cases, were perhaps quietly sent packing via the back door during the various "transitions").
Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p->Verizon Moto Droid + Verizon Palm Centro

RE: Helpful or not?
e_tellurian @ 4/21/2010 11:10:31 PM # Q
Well that is a bit of a problem if we want to have the founders signature on the signature series.

i wonder if they would be open to allowing their signature to be used on the signature series? Or perhaps they would come back and help build the signature series seeing as it would have their signature upon it. A reunion of the best of Palm past, present, and future.

Just some thoughts to kick around.

E-T
e-tellurian

Completing the e-com circle with a people driven we-com solution
WiFi & BT? No strings attached
we_tellurian@canada.com

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