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Comments on: Palm's Q3 Loss Was Larger Than Reported

Palm today released its Form 10-Q Quarterly report documents. The filling reveals that Palm lost $57 million dollars in the previous quarter, up from the $31.5 million which was previously reported.

Palm took an additional $25 million write-down charge for its auction-rate securities that have since lost value with the current problems in the debt and credit market. The Wall Street Journal recently published a report on the current problems with auction-rate securities and the tech industry which mentioned Palm.

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Can't imagine why...

enry @ 4/7/2008 2:00:14 PM # Q
I've been using Palms for years (1999ish) and my 700p will probably be the last one I use. I'll go get a crackberry and be done with it. Here's my problems:

- battery life. It's been unplugged for just shy of two hours and the life is down to 80%.
- software. This is a side rant, but Palm should be providing a lot more functionality to their users. While there's software that's out there that's worth the money, paying $15 for a wikipedia reader is just outrageous. $3, maybe. which leads to
- java. WTF Palm? Everyone else has functional J2ME implementations. The one you have (err..had) was barely functional at best. It makes using gmail or opera that much more fun when I have to grant it access to the network Every. Time. I. Start. It.
- blazer. Worst Browser Ever, and I remember Mosaic.
- product life. Unlike (apparently) everyone else here, I actually had to pay for my Treo and I'm stuck with it for two years (with < 6 months left). Palm seems to have given up on any kinds of updates or enhancements. Their update from last year didn't have much of a change for me.
- developers developers developers. You scared them off. Thanks.

On the plus side, I think there's more chance for functional software than over a standard iPhone, though a jailbroken iPhone/iPod Touch has serious potential.

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I can imagine why!

hkklife @ 4/7/2008 4:15:07 PM # Q
I'll play the role of a Palm PR bot for a moment here:

1. Palm can claim that it's "our" fault for clamoring for smaller/thinner devices. Battery life has to be compromised when downsizing devices, you know. Oh yeah, by including a touchscreen on a thin device, weak battery life is a necessary compromise.

2. Palm will argue that they are providing much more functionality to users now than in years past, as far as the OOBE (out of box experience) goes. While that IS true in the case of the Centro, doesn't it strike you as odd that a company's entry-level product has by far the newest & best software bundle of any of its products? I for one was quite sour at having to pay considerably more for a Verizon 755p that came out after the Sprint Centro yet had ZERO enhancements and an older OS/software bundle in every aspect.

3 & 4. Palm will just politely point you to mobile.palm.com and say that a propertly-formatted mobile page shouldn't need Java to begin with

5. Palm can easily counter that they are offering a "stable, reliable OS environment" with long life cycles for their products. Besides, the Centro offers a variety of funky, fun new colors, smaller/lighter size & weight, an attractive <$100 pricepoint and new features such as an IM app and Pocket Tunes Deluxe. What more could you possibly ask for?

6. There are "thousands" of apps available for Palm OS, according to Palm. Never mind the fact that many of them haven't seen updates in years and may not work with high-resolution screens, NVFS, or the reshuffled hard button layouts on recent Palm OS devices.


Remember, "We've learned and struggled for a few years here figuring out how to make a decent phone," he said. "PC guys are not going to just figure this out. They're not going to just walk in.'"

also keep in mind, "We are well positioned whichever way the market goes".

Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->TX->Verizon Treo 700P->Verizon Treo 755p

RE: I can imagine why!
TooMuch @ 4/8/2008 12:26:35 AM # Q
R&D, R&D, R&D...equity is gone. R&D, R&D, R&D.

RE: I can imagine why!
MythicFox @ 4/8/2008 12:38:43 AM # Q
Well, when you buy a handheld and the company doesn't put out anything worth upgrading to for the next few years afterwards so you keep using your older devices, some would say that is technically a 'long life cycle.'

Palm Vx > m505 > T5
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Colligan: RESIGN!

mikecane @ 4/7/2008 9:28:31 PM # Q
$15.5M *more* in losses than first reported?

How much rope will Rubinstein grant Colligan? With all the rope he's giving him, you won't have to hang Ed - he'll just *smother* under it.

RE: Colligan: RESIGN!
Gekko @ 4/7/2008 9:48:58 PM # Q

i'm both fascinated yet deeply disturbed by this photo -

http://blog.palm.com/.shared/image.html?/photos/uncategorized/2007/10/01/img_00181.jpg



RE: Colligan: RESIGN!
Gekko @ 4/7/2008 9:57:46 PM # Q

not that there's anything wrong with it...

RE: Colligan: RESIGN!
mikecane @ 4/9/2008 2:26:01 PM # Q
Yeah, Gekko, you freaked me out when you posted the link on my blog.

Boy band or ... don't go there!

RE: Colligan: RESIGN!
Gekko @ 4/9/2008 3:03:44 PM # Q
RE: Colligan: RESIGN!
mikecane @ 4/9/2008 9:00:09 PM # Q
Don't go ... there.

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Wanted: secondary market for liquidating Auction Rate Securities

ESER.org @ 4/8/2008 1:11:56 AM # Q
As yet another unfortunate investor in these Auction Rate Securities, I've been befuddled that I can negotiate a price for durable goods on EBay any day-of-the-week, but I can't get my stock broker to find a buyer for my Auction Rate Securities - no matter what discount I'm willing to sell at.

So, we've created an electronic secondary market at ESER.org for investors to directly buy and sell Auction Rate Securities with one another - independent of the brokerage houses.

It's frustrating that none of the banks that have previously back-stopped the auctions of these securities are willing to step in and redeem the issues from their clients - clients such as Palm.

The decision of the Wall Street Banks to terminate back-stopping auctions of these securities has cut a swath right through the investment world - from mid-size investors such as ourselves to large corporations, such as Palm

We're running ESER.org (Electronic SEcurities Registry) at http://www.eser.org as a sort of public-service: sellers are free to list their Auction Rate Securities for sale; and buyers are free to browse the listings and negotiate pricing and settlement with the sellers.

Hopefully, a vibrant secondary market, such as ESER.org, will allow investors to cash-out of these illiquid Auction Rate Securities.

-ESER.org (Electronic SEcurities Registry)

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Surprised...?

hawkspy @ 4/8/2008 6:17:58 AM # Q
I have been waiting for a replacement for the 680 for 2 years...while replacements were issued in the US on Palm OS, only the (now aging) 750 was released in Australia. Palm Aust have recently been flogging a crimson version of the 680 - are they serious? Im really enjoying my blackberry though...I just dont understand why they arent aggressivley releasing all their products internationally - I mean what possible gain could there be in limiting products to the US when youre losing 60 million dollars... bizarre.

Where do We Go Nowwwwwww?!

- Sir Axl de Rose, 1986

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Good!

theog @ 4/8/2008 2:26:26 PM # Q
Maybe now they will go out of business.

Vote for John Kerry... best man for the job.
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