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Comments on: Palm Sells 25% Stake, Announces New Board Members

Palm Inc LogoPalm, Inc., today announced a strategic relationship with the private-equity firm Elevation Partners and a recapitalization plan that will position Palm to lead the next phase of the smartphone and mobile-computing markets. In short, approximately 1/4 of Palm is being sold to Elevation Partners, a private equity firm led by former Apple CFO Fred Anderson, Investment Executives and Bono lead singer of U2.

Elevation will invest $325 million in Palm as part a deal intended to reorganize and rejuvenate Palm. Palm plans to these proceeds along with existing cash and $400 million of new debt to finance the cash distribution.

Palm has also announced major changes to its Board of directors with long time Chairman Eric Benhamou stepping down. Jon Rubinstein, former senior vice president of hardware engineering and head of the iPod division at Apple, is joining Palm as executive chairman of the board.

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???

linds @ 6/4/2007 12:17:53 PM # Q
This sounds really great for the future of Palm, or is it just more smoke and mirrors?

RE: ???
SeldomVisitor @ 6/4/2007 12:21:49 PM # Q
If it goes through (has to be voted on by shareholders) then it means significant change for PALM.

RE: ???
Foo Fighter @ 6/4/2007 12:40:20 PM # Q
It means a significant management shakeup is in the works, possibly culminating in the departure of Colligan and Hawkins, which is badly needed. Palm desperately needs new leadership and new product strategy.


-------------------------------
http://www.pocketfactory.com
http://www.elitistsnob.com

RE: ???
rmhurdman @ 6/4/2007 1:18:14 PM # Q
Good news for investors, if they take the money and run. Take your $9.00 and sell your shares a.s.a.p., because Palm is doing what the American consumer is famous for: consuming on credit. Palm is raising a bundle of cash and NOT investing it in R&D or marketing or anything that would generate future returns. They're simply giving it away (to existing shareholders). That's very short-sighted move, unless it is just smoke and mirrors and Elevation or some other shareholders are looking to consolidate their position and buy more shares cheap when people think "I've got my $9, I'll sell these crappy shares at whatever I can get for them."

I don't think this bodes well for Palm's future. I think they're staked their entire existence on the success of the Foleo with an entire new customer base. They've shown they're uninterested in existing customers and they can't put out a smartphone that just works.

RE: ???
numlock @ 6/4/2007 2:28:14 PM # Q
the best news here is that Benhamou is finally getting the boot.
RE: ???
nybble @ 6/4/2007 3:54:56 PM # Q
I think this gives Palm a couple more years to get it right - which means at least one major development if they actually get up and do some work. And with the iPod guy, maybe they'll come up with something good - they'll bring him a new product and say, "look! It's just like the last one, but we made the rocker button easier to use, we're going to call it the treo 900!" Then he'll fire them and hire someone who will actually make a difference. Eh?

Or maybe they'll just release a red treo and pre-load all Bono's songs on it, courtesy Elevation Partners. :)

http://comments.deasil.com/2007/06/04/palm-in-an-apple-bono-threesome/

RE: ???
LiveFaith @ 6/4/2007 5:50:07 PM # Q
** they'll bring him a new product and say, "look! It's just like the last one, but we made the rocker button easier to use, we're going to call it the treo 900!" Then he'll fire them and hire someone who will actually make a difference. Eh? **

That is sadly hillarious!

Pat Horne

Will Palm pull the plug on the FOOLeo + cut its losses?
The_Voice_of_Reason @ 6/9/2007 9:25:00 PM # Q
Old Palm was afraid to be honest, admit the FOOLeo was a steaming pile of sh!t lacking the software needed to make it (barely) functional.

Old Palm decided it was too late to do the right (merciful) thing and pull the plug on the FOOLeo last year.

Old Palm was in denial.

Will New Palm be more willing to amputate this diseased, gangrenous limb (FOOLeo) before it ends up killing Palm? Will New Palm finally realize that the safest route to long(er) term survival for Palm is via a customised Windows Mobile + StyleTap Platform?

Stay tuned, Kiddies...





TVoR

RE: ???
hkklife @ 6/9/2007 10:36:04 PM # Q
I'd wager tha Fooleo is far, far too long along in its gestation cycle to kill it now. I bet they'll just quietly release it on to the marketplace and, as soon as the $100 "introductory" promo rebate lapses, they'll cut the MSRP down by $100.

The Fooleo'll launch to much hoopla but quickly garner about 75% negative/25% wildly positive reviews. It'll then eke out a feeble 2 year lifespan all while being pushed to the back of the Palm product line and seeing perioodic price drops. In short, the Fooleo's life will likely mirror what happened to the LIfeDrive between '05 and '07. Count on it.



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

The FOOLeo will wither on the vine, LifeDrive-style.
The_Voice_of_Reason @ 6/9/2007 11:21:17 PM # Q
The Fooleo'll launch to much hoopla but quickly garner about 75% negative/25% wildly positive reviews. It'll then eke out a feeble 2 year lifespan all while being pushed to the back of the Palm product line and seeing perioodic price drops. In short, the Fooleo's life will likely mirror what happened to the LIfeDrive between '05 and '07. Count on it.

Exactly. Except I'll bet 90% of (honest) reviews are negative. The rest will be "Beersy B.S."-style fluff "reviews" touting the POTENTIAL of the device, if only software (that will NEVER be written for it) existed.

The FOOLeo will be Palm's biggest embarassment ever and will make carriers leery of Palm in the future. As a wise man (George W. Bush) once said:

"There's an old saying in Tennessee -- I know it's in Texas, probably in Tennessee -- that says, FOOLeo me once, shame on -- shame on you. FOOLeo me -- you can't get FOOLeoed again."

Maybe Palm should hire Bush as a spokesFOOL for the FOOLeo. He's the demographic Palm appears to be targeting with the FOOLeo...

TVoR

Reply to this comment

hope the apple engineers can make new Palm look as good as ipod!

johnwong @ 6/4/2007 12:37:59 PM # Q
I need a new Palm with a bigger screen and with the Opera browser installed!

JW

RE: hope the apple engineers can make new Palm look as good as ip
ProfGreg @ 6/4/2007 1:14:29 PM # Q
The day FOLEO was announced - I bought a TX to replace a dying T3.
It came with a "Palm Companion" = free wireless keyboard.

"Large Screen" - near full size keyboard - all available from Palm for years.

... and they are pocket sized.

Sounds like a great product doesn't it? Hawkins' best ideas are going out of
production - perhaps he should take the hint and follow along.

apologies to Treo fans - I just haven't converged.


RE: hope the apple engineers can make new Palm look as good as ip
rpa @ 6/4/2007 1:52:56 PM # Q
ProfGreg: are you aware of any apps to get voice (or VoIP) over a T|X?

rpa
RE: hope the apple engineers can make new Palm look as good as ipod!
gmayhak @ 6/4/2007 2:37:01 PM # Q
Here are a couple voip apps they say work with the TX and our Bud-Mic...

VoYP...
http://www.palmgear.com/index.cfm?fuseaction=software.showsoftware&PartnerREF=&siteid=1&prodID=125678

Articulation...
http://www.palmgear.com/?xyz=124503

Gary
www.talestuff.com


Tech Center Labs

RE: hope the apple engineers can make new Palm look as good as ip
rpa @ 6/4/2007 2:55:31 PM # Q
Gary: Thx.

rpa
Reply to this comment

TVoR's suggestion to stockholders: Take the money and RUN!

The_Voice_of_Reason @ 6/4/2007 12:53:57 PM # Q
Sorry, kiddies, but Palm is dead in the water. After a year of shopping the company around they finally found someone clueless enough to bite (nibble, actually). So much for due diligence. Methinks Bono needs to to get some "edumacation". A fool and his money are soon parted.

A smarter Palm would have sold out (entirely) 6 months ago for a lower than what they were holding out for, but as usual, greed reigns supreme. Palm isn't holding any cards, but Benhamou et. al. are superb bluffers in this high stakes poker game.

With no products, no OS, and having wasted 3 years developing a useless pseudolaptop, smart investors avoided Palm like The Plague. To be honest, I did not believe that anyone would offer Palm such generous terms at this point in time...


High, higher than the sun
You shoot me from a gun
I need you to elevate me here

A corner of your lips
Is the orbit of your hips
Eclipse
You elevate my soul

I've got no self control
Been living like a mole now
Going down, excavation
Higher now, in the sky
You make me feel like I can fly
So high
Elevation

A star
Lit up like a cigar
Strung out like a guitar
Maybe you can educate my mind

Explain all these controls
Can't sing but I've got soul
The goal is elevation

A mole
Digging in a hole
Digging up my soul now
Going down, excavation

Higher now
In the sky
You make me feel like I can fly
So high
Elevation

Love
Lift me out of these blues
Won't you tell me something true
I believe in you

A mole
Digging in a hole
Digging up my soul now
Going down, excavation

Higher now
In the sky
You make me feel like I can fly
So high
Elevation

Elevation
Elevation
Elevation
Elevation

TVoR

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 2:29:08 PM # Q
The_Voice_of_Reason, huh?

Information coming from a name like really makes me value your opinion on corporate strategy in the technology sector. Generally speaking, people who give themselves names like this usually have very little actual knowledge, experience, or clout on the given topic, therefore they rely on clever names to advertise how they would like the world to perceive their opinions. Before you get upset, this is not a personal attack on you, just a canned response I have to the millions of geniuses the Internet has produced by giving the average-joe the ability to post information to the masses.

Rather then anonymous posting, why don't we share a little information about each other to provide a little weight to these seemingly anonymous comments. I'll start off to make sure everyone's comfortable with this:

Hello, my name is Jeff Howard (as my screen name implies). I'm a System's Engineer that works for a major software corporation, in fact, on of the largest. I work in the architecture and design of enterprise IT solutions. I don't have much experience in mobile product development, but hope to move my career in that direction in the coming years.

The company I work for has a very large stake in the mobile computing sector, so plenty of information flows through our company regarding big decisions such as the one Palm just make. Right now, *the buzz* is that it was a good decision, and if managed properly, could make them a very formidable competitor. Not surprisingly, some large equity firms seem to agree with this view, and while investors do make plenty of mistakes, statistically speaking, I trust them as "The Voice of Reason" long before an anonymous poster on an Internet forum.

But of course I would be more then happy to change my opinion if you would be so kind as to provide some additional details about your knowledge and experience to substantiate your claim as "The Voice of Reason".

- Jeff

Tungsten T --> Palm TX --> Foleo-mini??(like and LD-II??)

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 2:33:37 PM # Q
Apologize for the spelling and grammar errors... I'm at work, so I had to type that up in a hurry.

Tungsten T --> Palm TX --> Foleo-mini??(like and LD-II??)
RE: TVoR's suggestion to stockholders: Take the money and RUN!
SeldomVisitor @ 6/4/2007 2:35:17 PM # Q
You don't KNOW who TVoR is!?

Giggle.


RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 2:52:12 PM # Q
That was the entire point of the post... Please, tell us more about yourself. Doesn't it sound nice to actually know *who* you're talking too, and what information / knowledge they use to form their opinions?

Heck, if you can prove that you have a creditable background in mobile computing, I'll seriously consider your advice. But if you're a 35 yr-old teenager who drinking too much Mt. Dew, and trolls internet forums all day while working at a call center, then it's probably best to give your readers a little perspective.

I've done so, what prevents you from doing the same?

Tungsten T --> Palm TX --> Foleo-mini??(like an LD-II with a small attached keyboard??)

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 2:55:22 PM # Q
My apologies Seldom Visitor, I thought your response was from TVoR... I think all the wild opinions since the Foleo release have me a little fired up this morning.

Plus I drank a lot of coffee... :-)

- Jeff

Tungsten T --> Palm TX --> Foleo-mini??(like an LD-II with a small attached keyboard??)

RE: TVoR's suggestion to stockholders: Take the money and RUN!
hkklife @ 6/4/2007 3:01:48 PM # Q
Food for thought:


Are Dr. O and Jeff Howard one and the same?

Are TVoR and Jeff Howard one and the same?

Is Jeff Howard a pseudonym for Jeff Kirvin?

Are Seldom Visitor and TVoR one and the same?

Are Seldom Visitor, TVoR and Jeff Howard one and the same?

I do believe that this indeed calls for a GIGGLE!


P.S. For this record, I see the events of today (700p ROM update & the Elevation/board shakeup) as much more positive for the future of Palm than last week's ho-hum Foleo announcement.


P.P.S. Perhaps Bono will don Yankowski's gold-threaded suit at the next U2 gig and use the occasion to launch the next-generation Treo...featuring "almost 3g" The EDGE technology...(get it?)

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

RE: TVoR's suggestion to stockholders: Take the money and RUN!
SeldomVisitor @ 6/4/2007 3:07:16 PM # Q
I thought TVoR's last (giggle) "I'm never coming back" post outright said he was actually "they".

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/4/2007 3:38:24 PM # Q
I thought TVoR's last (giggle) "I'm never coming back" post outright said he was actually "they".

TVoR returned to warn the clueless about the tar pit now known as Palm. It would be a shame to see someone victimized by this nonsense. Don't say nobody warned you, Kiddies...


TVoR

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/4/2007 3:46:19 PM # Q
But of course I would be more then happy to change my opinion if you would be so kind as to provide some additional details about your knowledge and experience to substantiate your claim as "The Voice of Reason".

- Jeff

"Jeff"? How do I know who you really are? What company do you work for? All we know about you is that you CLAIM to be "Jeff Howard (as [your] screen name implies)... and are " a System's Engineer that works for a major software corporation, in fact, on of the largest." For all we know you could really be Jeff Kirvin. Or Jeff Hawkins. Or Dianne Hackborn. Or... well, you get the point. This is the Big, Bad Internet, Jeffy. You need to figure out who is telling The Ugly Truth and who is full of sh1t. If you don't trust what TVoR says, then simply ignore the posts made by TVoR


XOXOX
Carl Yankowski

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/4/2007 3:53:58 PM # Q
Food for thought:


Are Dr. O and Jeff Howard one and the same?

Are TVoR and Jeff Howard one and the same?

Is Jeff Howard a pseudonym for Jeff Kirvin?

Are Seldom Visitor and TVoR one and the same?

Are Seldom Visitor, TVoR and Jeff Howard one and the same?

I do believe that this indeed calls for a GIGGLE!<

Dianne Hackborn reportedly figured out who one of "The Voices of Reason" is and has threatened to out her. Bring it on, DK! Biotch! (Actually, she guessed wrong!)


P.P.S. Perhaps Bono will don Yankowski's gold-threaded suit at the next U2 gig and use the occasion to launch the next-generation Treo...featuring "almost 3g" The EDGE technology...(get it?)

I'll bet several Palm code monkeys are also smoking marijuana in their cages...

Maybe Palm should dig up some of the Vx they buried, paint them red + black and sell them as a special "U2 Edition" for $50 more.

TVoR

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 4:39:31 PM # Q
All your sarcastic replies only further my point:

Most people that make posts based solely off their opinions are trash. You are correct, I could simply overlook them, but I think it's good to call people out. If even one reader walks away wanting more credibility out of the myriad of anonymous posts, then it was worth my time. It seems much more constructive to have a spirited debate based on information from the well informed, but maybe that's just asking too much.

As far as me lying about my creds? I suppose I could be, but for what purpose? All I've posted was the opinions of other people who are much more informed than myself. You could be a janitor and I would still listen to you as long as you cited some creditable sources, and applied a good structural argument to your opinions.

My reply asked one simple question, of which you still have not answered:

All B.S. and sarcasm aside, why don't you *honestly* tells us what you do for a living to give everyone a better idea of who we're talking too? It seems like such a simple question, why are you so shy?

P.S. - I don't mention my companies name out of respect for them. These are my opinions and views, and I would rather not speak on their behalf. My only point in previously mentioning my company was that it's a pretty large group of well-informed people who spend a lot of time researching this sector. I would never assert their opinions as fact, but more just a pretty good sample of people who do their homework.

Tungsten T --> Palm TX --> Foleo-mini??(like an LD-II with a small attached keyboard??)

RE: TVoR's suggestion to stockholders: Take the money and RUN!
cervezas @ 6/4/2007 5:07:34 PM # Q
Jeff, as you can see, "The Voice of Reason" is just troll. The last thing in the world he'd want to do is let anyone know who he really is. On one point he is correct: it *is* the big bad Internet out here, and scarcely moderated forums like this one attract not just people with a sincere interest in Palm and mobile computing but narcissists and loons who like to use it as a platform to make themselves feel important. Bordering on that personality type myself, I can spot 'em every time. ;-)

I'm watching with interest the response from different sectors to the Foleo. It's difficult to assess in some respects because a lot of the people who *are* interested fall into categories that aren't necessarily big bloggers or content producers on the web: heads-down business road warriors and people interested in simpler, cheaper, smaller computers for dedicated uses like word processing or email. On the other hand, the vocal cadre of mobile power users seems on the whole to be pretty disgusted with the Foleo because any product that doesn't deliver better features and specs than the competition is almost by definition of little utility.

I consider the Palm Entrepreneurs Forum to be a pretty level-headed group: they've suffered enough from Palm's shenanigans over the years that they are way past being fanboys, they develop enough for competiting platforms in any case, and they have years of experience providing software and technical support to all kinds of Palm users--not just the kind who hang out here. The most common reactions from that group:

* There's a long thread with the subject "It's for the women" and widespread assent that the Foleo is passing the "wife test."
* There's a nostalgia for a time when computers were simpler and more fun to develop for. (Long thread with the subject "Foleo deja vu" referring to both the early days of Palm and older products like the popular Radio Shack Model 100)
* There is optimism expressed on a few fronts: the fact that this is pure solid state, the fact that Palm's development of this product doesn't involve the carriers, the idea that it is an extension of your phone that could eventually do more.
* There's a sense of opportunity surrounding the fact that this enables the creation of new kinds of applications (esp. that sync between Foleo and smartphone)
* There is concern expressed by some that Linux could actually make it problematic for commercial software developers (lots of free quick-n-dirty ports of Linux apps don't show off the platform well and make it harder to make a living)
* There's widespread opinion that this should be marketed as a mobile computer, not a "mobile companion"

There have been over 200 posts about Foleo on the PEF forum (as of this moment) by 32 different individuals (not counting posts by one Palm employee). I've also had some back-channel conversations with a few that I count as well. The participants break down roughly as follows, by my reckoning:

Favorably inclined toward Foleo: 72%
Neutral/Can't tell: 12%
Negatively inclined: 16%

Frankly, I am really surprised (and heartened) at that breakdown.


David Beers
Pikesoft Mobile Computing
www.pikesoft.com/blog

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 5:28:01 PM # Q
Thanks for the info. It's refreshing to see some data behind a post! I've seem that forum mentioned several times, I'll have to check it out. I agree that the Foleo is definitely a "wait and see" product. I think that's the nature of trying to create a new category of device though. I fear that the software running on the device could make or break it, and it sounds like Palm hasn't (yet) invested much on the software side of things. I suppose we'll see after the actual release.

Besides the Foleo, I have a feeling the new management structure will have an affect on Palm's existing products as well. But as mentioned in other posts, I think the remainder of '07 is going to be pretty quiet at Palm as they settle down with the new structure, and get the Foleo officially launched.

Regardless of whether they fail or succeed, I think there's some exciting times ahead for the company.

Tungsten T --> Palm TX --> Foleo-mini??(like an LD-II with a small attached keyboard??)

RE: TVoR's suggestion to stockholders: Take the money and RUN!
LiveFaith @ 6/4/2007 5:57:16 PM # Q
Jeff,

This is PIC, so don't put to many eggs in the serious basket. Thanks for the info and insight, along with the others. But, I do have a tiny reservations with the last comment that "exciting times" and failure can be one in the same. I can run Palm for 1/2 the price and fail. That aint exciting.

Pat Horne

RE: TVoR's suggestion to stockholders: Take the money and RUN!
cervezas @ 6/4/2007 6:02:07 PM # Q
Foleo is definitely a "wait and see" product.

Developers want to see, not wait. As is usually the case, there is a hunger for early release of an SDK, desire to assess the device's capabilities first hand, and disappointment that Palm didn't tap *them* to be in the early developer group.

I'm sure the reason Palm limits the number of developers they do early release to is not because they don't care about having lots of 3rd party apps developed as soon as possible, but because setting up a good developer program, clean docs and sample code, trouble-free tools, and support takes a lot of resources away from product development, which obviously is their first priority.

I fear that the software running on the device could make or break it, and it sounds like Palm hasn't (yet) invested much on the software side of things.

I totally agree. What we saw last week is not the final product. Both Palm and their 3rd party partners are still cranking on this.

David Beers
Pikesoft Mobile Computing
www.pikesoft.com/blog
RE: TVoR's suggestion to stockholders: Take the money and RUN!
LiveFaith @ 6/4/2007 6:03:13 PM # Q
... oh forgot. The real skepticism here may come from years and years and years of mismanagement and downright corporate raiding by those who have held the keys to the Palm jewel. Press releases and corporate restructuring does not sit well with those who have waded through Palm's insane corporate ride since the mid-90s. A 700p ROM update, Treos with a radical new technology called WiFi, and a decent clipboard limit will get a 1,000 times more excitement around here.

Advice IMHO ... don't sink your entire 401(k) in just yet.

Pat Horne

RE: TVoR's suggestion to stockholders: Take the money and RUN!
cervezas @ 6/4/2007 6:55:30 PM # Q
I really think Pat's put his finger on it. Even if Palm had announced a device that is more in-line with the expectations of die-hard Palm users (not to say we all had the same expectation) I think the announcement would have met a lot of skepticism just because Palm has stalled or flubbed its execution on so many fronts: no really new Treo designs, poor after-sale support for buggy products like the 700p, and abandonment of their PDA line, for example. Why should people think a new product line, even if it looked looked very sexy and interesting, wouldn't suffer from the same problems? With that as a backdrop, announcing a product that is an incomplete realization of a bold vision that is probably a few years ahead of its time... well, that's guaranteed to elicit the worst possible response from the Palm user community. So here we are.

As others have said, I'm hoping today's news shakes things up in a positive way for Palm. I think Foleo has a decent chance to evolve into the game-changing concept that Hawkins foresees, but it's saddled with a lot of baggage right now. On top of a disappointing recent history that it needs to shake off, Palm hasn't really satisfied me that it has a good idea of how to market the Foleo to the people who would like to buy one. I foresee a slow start, a prolonged early adopter phase, and more negative buzz around this product if something doesn't change pretty quickly.

That's not to say I'm not jazzed about working on some apps, because *I* know plenty of people that *I* can sell on using devices like the Foleo. Just that for Palm's own sake they had better start firing on all cylinders and come up with a marketing message and applications for Foleo that befit Palm's "future of personal computing is mobile computing" vision.

David Beers
Pikesoft Mobile Computing
www.pikesoft.com/blog

RE: TVoR's suggestion to stockholders: Take the money and RUN!
jeffhoward001 @ 6/4/2007 7:00:11 PM # Q
Agreed. The past few (or more then a few) years have been rocky for Palm, and there are numerous little issues that they seem to continuously overlook (good call on the clipboard limit, that is really irritating...). This is why I'm giving the Foleo, and Palm as a company the "wait and see" rating. Rather then looking at the recent restructuring as the answer to all their problems, I'm looking at it as the first opportunity to trudge the good ideas out of the swamp of little mistakes.

Tungsten T --> Palm TX --> Foleo-mini??(like an LD-II with a small attached keyboard??)
RE: TVoR's suggestion to stockholders: Take the money and RUN!
dukat @ 6/5/2007 5:49:32 AM # Q
Come on guys... This thread started so darn funny. So stop this nonsense, pseudo-serious talk. It is after all a started by TVoR, right?

TVoR, please take over - PLEASE!!!

jeffhoward++, just start another thread and we swear we'll be all SERIOUS all the time!



IIIe -> m505 -> T3 -> Treo650 -> Treo680

RE: TVoR's suggestion to stockholders: Take the money and RUN!
justauser @ 6/5/2007 8:10:29 AM # Q
Here's a conspiracy theory for you -

I've always speculated that Voice was Ryan (no offence Ryan). I figured Ryan may try to spice things up on the site by adding in some controversy - controversy sells. Also, I remember TVoR was acknowledged a year or so back as posting the millionth post (or something) and someone commented that this was ironic if you knew who TVoR really was. Just made me wonder.

I imagine running a site like this it would be difficult to avoid the temptation to post some contentious arguments under an anonymous profile or two. Again no offense Ryan. Just a wacky theory with absolutely no justification.

RE: TVoR's suggestion to stockholders: Take the money and RUN!
SeldomVisitor @ 6/5/2007 8:16:17 AM # Q
Whoever (whoevers?) TVoR is, their posts generate message traffic - win!

[of course, posters are NEVER important - just posts are - but we'll forget that factoid for the moment!]

RE: TVoR's suggestion to stockholders: Take the money and RUN!
LiveFaith @ 6/5/2007 8:16:27 AM # Q
** Just a wacky theory with absolutely no justification. **

Perfect. You can probably get tenured for that.

Pat Horne

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/5/2007 11:39:39 PM # Q
Here's a conspiracy theory for you -

I've always speculated that Voice was Ryan (no offence Ryan). I figured Ryan may try to spice things up on the site by adding in some controversy - controversy sells. Also, I remember TVoR was acknowledged a year or so back as posting the millionth post (or something) and someone commented that this was ironic if you knew who TVoR really was. Just made me wonder.

I imagine running a site like this it would be difficult to avoid the temptation to post some contentious arguments under an anonymous profile or two. Again no offense Ryan. Just a wacky theory with absolutely no justification.

How dare you imply that I would post to my own site just to "spice things up".

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/6/2007 12:32:30 AM # Q
All your sarcastic replies only further my point:

Most people that make posts based solely off their opinions are trash.

Really? Is that you're opinion? Guess that makes you... Beersy-like.

You are correct, I could simply overlook them, but I think it's good to call people out. If even one reader walks away wanting more credibility out of the myriad of anonymous posts, then it was worth my time. It seems much more constructive to have a spirited debate based on information from the well informed, but maybe that's just asking too much.

Go ahead and "call people out". Look back at the sleazy posts we've seen here over the years from self-interested Palm/PalmSource employees, apologists like Beersy who make their living selling PalmOS software (no conflict of interest there, right, Beersy?), etc. Then look back at the brutal honesty dripping from each lovingly written post from TVoR. Who you believe is your own business, but the test of time has shown that TVoR has been the one "call[ing] people out".

As far as me lying about my creds? I suppose I could be, but for what purpose?

You tell me. Are you familiar with the term "Astroturf"? Just ask Michael Mace for the definition.

All I've posted was the opinions of other people who are much more informed than myself.

Really? Can we please have the names of those "informed" elite? Furthermore, so-called "informed opinions" have resulted in products like the LifeDrive, Tungsten T5, i705 and now the Foleo being inflicted upon the Palm faithful. Someone once said opinions are like a**holes... your posts here have clearly illustrated that truism.

You could be a janitor and I would still listen to you as long as you cited some creditable sources, and applied a good structural argument to your opinions.

What's wrong with being a janitor?

My reply asked one simple question, of which you still have not answered:

All B.S. and sarcasm aside, why don't you *honestly* tells us what you do for a living to give everyone a better idea of who we're talking too? It seems like such a simple question, why are you so shy?

The identity of TVoR is irrelevant. What matters is the truth behind what is posted, not who posted it. If Jeff Hawkins comes here and tells everyone that he thinks the Foleo is the most significant product he has ever created - even more significant than both the original Palm Pilot and the Treo 600 - and then the anonymous TVoR comes here and says that the Foleo is a misguided, overpriced, poorly-conceived beta (work in progress) product that does not have a realistic market, who are you going to believe? Again, that is your choice. Unfortunately for Palm, the LifeDrive proved that there is a limit to how far gullible Palm devotees can be pushed before even they tell Hawkins, Colligan, et al to go f themselves.

P.S. - I don't mention my companies name out of respect for them. These are my opinions and views, and I would rather not speak on their behalf. My only point in previously mentioning my company was that it's a pretty large group of well-informed people who spend a lot of time researching this sector. I would never assert their opinions as fact, but more just a pretty good sample of people who do their homework.

Cut the bull, Bubba. Until you give us a lot more details, including the name of your company and the names of the individuals you claim are "well-informed" then you're just as anonymous as TVoR, justlittleme, RhinoSteve, stonemirror, Dr Opinion, etc.

Have a seat, Jeffy.



TVoR

RE: TVoR conspiracy theory
Ryan @ 6/6/2007 12:48:11 AM # Q
wow - I can assure you in the most strongest of terms possible that I am not nor have ever posted as "TVOR".

He/She/It has been posting to the site for years under a number of accounts, most notably the old smilyface accounts, the voice of reason and perhaps even "ska". Who knows how often it posted back in the old wild west, anonymous commenting days here at PIC.

If any of you knew or met me in real life for more than five minutes you would know that such nonsense would ever come out of my mouth. (with all due respect voicey)

But again, sincerely, I am not TVOR. I realize you are half joking but really there is absolutely no connection.


RE: TVoR's suggestion to stockholders: Take the money and RUN!
freakout @ 6/6/2007 1:19:58 AM # Q
^^ Phew! Nice cover, Ryan. I was worried they might have finally outed you!

:P

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/6/2007 1:37:18 AM # Q
Jeff, as you can see, "The Voice of Reason" is just troll.

Nice attempt to marginalize those who speak the truth, Beersy. The real "troll[s]" are people like you with a not-so-hidden agenda who come here attempting to mislead the public for their own (financial) benefit. How often do you post links to your own website in your posts? Are you looking to get more traffic to your website and more contracts for your little PalmOS application development company? Disgusting.

The last thing in the world he'd want to do is let anyone know who he really is.

Your attempts at obfuscation are hopelessly transparent, Beersy. The endless attacks you've made on TVoR over the years remind us all of your hidden agenda.


On one point he is correct: it *is* the big bad Internet out here, and scarcely moderated forums like this one attract not just people with a sincere interest in Palm and mobile computing but narcissists and loons who like to use it as a platform to make themselves feel important. Bordering on that personality type myself, I can spot 'em every time. ;-)

"Scarcely moderated"? Wow. Yet another cheap shot at Ryan and Palminfocenter. Perhaps you should stop trolling here, trying to direct traffic towards your website (and your pocketbook).

I'm watching with interest the response from different sectors to the Foleo. It's difficult to assess in some respects because a lot of the people who *are* interested fall into categories that aren't necessarily big bloggers or content producers on the web: heads-down business road warriors and people interested in simpler, cheaper, smaller computers for dedicated uses like word processing or email. On the other hand, the vocal cadre of mobile power users seems on the whole to be pretty disgusted with the Foleo because any product that doesn't deliver better features and specs than the competition is almost by definition of little utility.

Yes folks, again we have another fine example of SPIN DOCTORING by our good friend, Beersy. Since the Foleo has been universally panned by almost every tech site, almost every site dealing with PalmOS devices, and almost every power user posting to the fan boy sites, Beersy's only hope is to claim that the market for this device consists of people other than those who have criticized it. Now isn't that special? Brilliant mendacity.

Well guess what, Beersy? Road warriors will have their needs met by simpler, cheaper, smaller computers... running Real Windows™. If you were being honest, you would admit that "the vocal cadre of mobile power users seems on the whole to be pretty disgusted with the Foleo because" quite simply, it fails to present the solution to ANY problems better than more powerful, more flexible devices that are already on the market and that have massive software libraries + the power of inertia behind them. Quite frankly, the Foleo is an embarrassing indictment of the ineptitude of Palm's leadership, designers and programmers. Kind of reminiscent of a junior high school project left to the last-minute and completed on the bus on the way to school. Show us a device with background syncing with a new online Palm PIM site, Virtual Network Computing capability, the ability to run legacy PalmOS applications full-screen, GPS capability, VoIP capability, full multimedia capability, rotating screen and in a package no bigger than 50% larger than the Sony CLIE UX50 and the device might have had a chance. As it stands now, the Foleo may as well have come out in 1999. Palm's laughable decision to position the Foleo as a Treo add-on ("Foleo = Treo's biotch") further underscores the company's lack of confidence that this device has the merit to stand on its own two feet.

I consider the Palm Entrepreneurs Forum to be a pretty level-headed group: they've suffered enough from Palm's shenanigans over the years that they are way past being fanboys, they develop enough for competiting platforms in any case, and they have years of experience providing software and technical support to all kinds of Palm users--not just the kind who hang out here. The most common reactions from that group:

* There's a long thread with the subject "It's for the women" and widespread assent that the Foleo is passing the "wife test."
* There's a nostalgia for a time when computers were simpler and more fun to develop for. (Long thread with the subject "Foleo deja vu" referring to both the early days of Palm and older products like the popular Radio Shack Model 100)
* There is optimism expressed on a few fronts: the fact that this is pure solid state, the fact that Palm's development of this product doesn't involve the carriers, the idea that it is an extension of your phone that could eventually do more.
* There's a sense of opportunity surrounding the fact that this enables the creation of new kinds of applications (esp. that sync between Foleo and smartphone)
* There is concern expressed by some that Linux could actually make it problematic for commercial software developers (lots of free quick-n-dirty ports of Linux apps don't show off the platform well and make it harder to make a living)
* There's widespread opinion that this should be marketed as a mobile computer, not a "mobile companion"

There have been over 200 posts about Foleo on the PEF forum (as of this moment) by 32 different individuals (not counting posts by one Palm employee). I've also had some back-channel conversations with a few that I count as well. The participants break down roughly as follows, by my reckoning:

Favorably inclined toward Foleo: 72%
Neutral/Can't tell: 12%
Negatively inclined: 16%

Frankly, I am really surprised (and heartened) at that breakdown.

Fascinating study, Professor Beersy. Can you post some p values with your numbers? Also, for the sake of comparison, would you mind letting us know what the numbers were for this group re: how they claimed to feel about Cobalt when it was announced and/or pseudo-released? Thanks for sharing.

David Beers
Pikesoft Mobile Computing
www.pikesoft.com/blog

Would you mind posting your company's name and your web site some more? I don't think we've seen it enough. Thank you.

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/6/2007 1:40:47 AM # Q
^^ Phew! Nice cover, Ryan. I was worried they might have finally outed you!

:P


Don't worry - I'm always two steps ahead of 'em!


RE: TVoR's suggestion to stockholders: Take the money and RUN!
dukat @ 6/6/2007 5:37:30 AM # Q
Wow. Never heard so much b**lshit in one thread in a long time that I so wholeheartedly enjoyed ;-) Great work TVoR !!



IIIe -> m505 -> T3 -> Treo650 -> Treo680

RE: TVoR's suggestion to stockholders: Take the money and RUN!
ChiA @ 6/6/2007 6:18:02 AM # Q
a lot of the people who *are* interested fall into categories that aren't necessarily big bloggers or content producers

I think it's telling that the general news sites (BBC, CNN, Sky News, Time etc) have little or no interest at all in the Foleo, which is remarkable for what Palm considers to be a new category of electronic device.

Yet they each have coverage of the iPhone which let's face it, is simply a new smartphone. The greatest irony is that the news sites have shown more interest in the OLPC and Microsoft's table computer - neither of which are intended for the mass consumer market, ie general readers of news sites.

RE: TVoR's suggestion to stockholders: Take the money and RUN!
hkklife @ 6/6/2007 10:07:45 AM # Q
TVoR: TVoR, :-), :-; , The Ugly Truth.

TVoR is most certainly not "ska". "Ska" possessed ZERO wit, insight into the Palm-companies, and sometimes seemed to speak more Engrish than English.

As to any of the other pseudonyms TVoR may have had back in the good ol' "Wild West" days of PIC....it's impossible to tell. Heck, I posted for years prior to the mandatory registration (was that in '02 or '03 IIRC) on PIC.

And to think that TVoR may stand for "The Voice of Ryan"....PURE HOGWASH! Ryan's an easy going, laid-back, mellow dude with mucho love for everyone. I'VE made more jokes about reach-arounds and lube jobs than he ever has!



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

Fanboys
vorlon @ 6/6/2007 3:28:02 PM # Q
You people don't seem to know about fanboys. PIC is definetly not a good target for astroturfing.

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

RE: TVoR's suggestion to stockholders: Take the money and RUN!
Wollombi @ 6/6/2007 6:50:59 PM # Q
No astroturfing going on here, it's just that Voice, ;), :), or whatever pseudonym he/she/it goes by is still wearing his/her/its tinfoil hat.

As I asked you long ago, Voicey, picked up any good copies of Catcher in the Rye lately?

_________________
Sean

There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self.

RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/7/2007 12:21:24 AM # Q
I think it's telling that the general news sites (BBC, CNN, Sky News, Time etc) have little or no interest at all in the Foleo, which is remarkable for what Palm considers to be a new category of electronic device.

Yet they each have coverage of the iPhone which let's face it, is simply a new smartphone. The greatest irony is that the news sites have shown more interest in the OLPC and Microsoft's table computer - neither of which are intended for the mass consumer market, ie general readers of news sites.

Beersy would have you believe that there is a secret market of MILLIONS of (undefined) people that are BEGGING to spend $500 on this fecolent FOOLeo. And when it bombs spectacularly like the LifeDrive and i705 did, no doubt Beersy will be the first to offer more bizarre, far-fetched excuses for the failure.

Beersy's eagerness to provide Palm with ondoing Michael Mace-level damage control B.S. is truly astounding.


TVoR

RE: TVoR's suggestion to stockholders: Take the money and RUN!
stonemirror @ 6/8/2007 4:52:21 AM # Q
Look back at the sleazy posts we've seen here over the years...

Of which the very sleaziest, of course, have consistently emanated from The_Gaping_and_Fetid_Maw_of_Unreason, who feels in necessary to drag other posters' personal lives, and the personal lives of their families, into any "discussion" in which it feels it's on the losing end. Which is to say, about all of 'em.

"Mr. Pot! There's a Mr. Kettle on the phone for you!"

Weren't you taking your few remaining marbles and going home...? Honestly, you made a lot more sense when you were absent.


RE: TVoR's suggestion to stockholders: Take the money and RUN!
twrock @ 6/8/2007 5:48:00 AM # Q
Seriously, you really can't believe that he ever would have left "for good", can you? You need to get out more. Go to any primary school playground and you can see this kind of behavior played out every day.


Thinking about Vista? Think again: http://www.cs.auckland.ac.nz/~pgut001/pubs/vista_cost.txt
Want an alternative? Try this: http://www.ubuntu.com/ or http://www.mepis.org/
RE: TVoR's suggestion to stockholders: Take the money and RUN!
The_Voice_of_Reason @ 6/9/2007 9:14:26 PM # Q
Look back at the sleazy posts we've seen here over the years...

Of which the very sleaziest, of course, have consistently emanated from The_Gaping_and_Fetid_Maw_of_Unreason, who feels in necessary to drag other posters' personal lives, and the personal lives of their families, into any "discussion" in which it feels it's on the losing end. Which is to say, about all of 'em.

"Mr. Pot! There's a Mr. Kettle on the phone for you!"

Weren't you taking your few remaining marbles and going home...? Honestly, you made a lot more sense when you were absent.


Well thanks for your kind words, David Schlesinger. As a PalmSource manager/Access Japan lackey, shouldn't you be spending your time trying to get your DELAYED ALP-OS to the point where it can but put into a REAL, SHIPPING device? Did PalmSource not learn anything from its Cobalt Catastropheh? Are you really as stupid as you appear to be?

Keep trolling, Mr. Schlesinger.

Hugs & Kisses as always
Ki o tsukete

TVoR

RE: TVoR's suggestion to stockholders: Take the money and RUN!
Poopie @ 7/5/2007 5:22:33 PM # Q
the LifeDrive proved that there is a limit to how far gullible Palm devotees can be pushed before even they tell Hawkins, Colligan, et al to go f themselves.

Gotta agree with TVoR on that.

I probably directly or indirectly convinced hundreds or thousands of people to buy Palms... until I bought a Lifedrive.

Hawkins, Colligan, et al - go F yourselves!

Reply to this comment

Foleo

gmayhak @ 6/4/2007 12:55:39 PM # Q
"mobile computing is a category with enormous potential. This is a company with an impressive history of introducing game-changing products -- "

Sounds like they'll be pushing the Foleo development. Maybe not good news for those of us that want a new PDA :-(

Tech Center Labs

Reply to this comment

New device??

Remmo @ 6/4/2007 12:57:06 PM # Q
Well, I think Jon Rubinstein can develop something like an "iPalm"

Casio B.O.S.S. -> Casio PocketViewer -> Palm IIIe -> Palm IIIc -> Tungsten T -> Tungsten T|3 -> Tungsten T|5 -> Palm T|X -> Treo 680
RE: New device??
SeldomVisitor @ 6/4/2007 12:59:09 PM # Q
Oh.

Is he God?

Or is the PR Machine in full gear?

RE: New device??
Remmo @ 6/4/2007 2:28:53 PM # Q
Ok ok, he's not God, but I'm sure he can create a whole new revolutionary device for Palm. Maybe a new smartphone to fight the upcoming iPhone. Surely, it could include Bluetooth, Wi-Fi, EVDO, big screen, GPS, standard audio connector, accelerometer, thermometer, water proof, 10 megapixel camera w/flash and night vision features, UMD slot for PSP Games, toaster oven and a free online subscription to Shonen Jump.

.. and.. of course.. sell this device for just $300..!!

Casio B.O.S.S. -> Casio PocketViewer -> Palm IIIe -> Palm IIIc -> Tungsten T -> Tungsten T|3 -> Tungsten T|5 -> Palm T|X -> Treo 680

RE: New device??
SeldomVisitor @ 6/4/2007 2:34:26 PM # Q
PALM has already said the "roadmap" is locked in for the year, thus "iPhone competition" is NOT something anyone new is going to be addressing - way too late.

RE: New device??
hkklife @ 6/4/2007 3:15:59 PM # Q
I think Palm was intentionally keeping the roadmap very lean'n mean.....Aside from the "big" Feleo announcement & launch, they want to keep the few legacy PDA models alive through year-end and use this summer for "housekeeping" (700p ROm update, Vista-compliant Palm Desktop, Treo 700 WM6 upgrade). Then they'll release maybe one or two new Treos this fall (most likely a 755w running WM6 and PERHAPS a new GSM WM6 Treo with 320x320 and GPS built-in--a 780 or so as the aforementioned "Mercedes" model)

I figure it'll be spring '08 before we see anthing even remotely interesting from Palm.



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

RE: New device??
heavyduty @ 6/5/2007 3:48:21 AM # Q
hkklife @ 6/4/2007 3:15:59 PM
...and PERHAPS a new GSM WM6 Treo with 320x320 and GPS built-in....

No no no no.... When will you people learn?

There will be NO GPS equipped device this year, just forget it already. I told you, the best you/we can hope for is Wifi (it makes me cringe every time I need to put 'hope' and 'Wifi' in the same sentence for a smartphone released in 2007). Which is why I went back to WM: it certainly isn't perfect but it does work and you have every radio option available, in your preferred form factor.

The day Palm can do built-in GPS + Cellular over a BT headset, all at the same time (a la WM), only then will I consider going back.

Palm Vx (a classic) -> Palm 505 (*yawn*) -> Dell Axim (slooow...) -> Palm TE (great) -> Qtek 9090 (great idea, lousy platform) -> Nokia 6630 (a toy) -> iMate SP3i (not bad) -> Nokia 9300 (can't sync notes!!) -> Treo 650 (awesome) -> hw6915 (almost perfect)

RE: New device??
Surur @ 6/5/2007 10:18:10 AM # Q
I used to be sure the Mercedes product would be WM, but with this early release of this Linux device (however incomplete) it will probably be PalmOS. Also my definition of Mercedes type (very high specs) and Palm's definition may be very different. Just look at the Foleo, which to me appears to be utter junk, but was apparently Hawkins' best idea...

Surur

They said I only argued for the sake of arguing, but after an hour I convinced them they were wrong...
Hey!! I made associate writer at PDA247. Come see my nattering over there!!
www.clieuk.co.uk/wm.shtml

RE: New device??
hkklife @ 6/5/2007 10:22:28 AM # Q
Nowhere did I say ANYTHING about Palm OS aka Garnet aka FrankenGarnet aka OS5.
I said WM6 as in "Windows Mobile 6". I truly feel the 755p is the FINAL Garnet-powered device from Palm. I do not expect anything stellar out of Garnet's BT capabilities--certainly not reliable headset functionality.

I think that while Palm may have cooled slightly on WM, they will turn to WINDOWS MOBILE 6 (as I clearly stated) as a stop-gap measure between the next round of releases (the Foleo and whatever new Treos are planned) and the first non-Foleo PLinux devices (next spring?).


I think Palm's release roadmap will look like this:

Late Summer: Foleo, WM6 upgrade for Treo 750 (and probably start selling the 750 pre-loaded with WM6)

October: Treo 755w (CDMA WM6 Treo, identical to 755p 320x320 screen)
Treo 780 (GSM WM6 Treo, 320x320 screen, either wi-fi or GPS built-in)


Spring '08: First Plinux Treo(s)


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

RE: New device??
heavyduty @ 6/5/2007 11:21:05 AM # Q
hkklife
I think that while Palm may have cooled slightly on WM, they will turn to WINDOWS MOBILE 6 (as I clearly stated) as a stop-gap measure between the next round of releases (the Foleo and whatever new Treos are planned) and the first non-Foleo PLinux devices (next spring?).

Agreed.


hkklife
I think Palm's release roadmap will look like this:....

Please allow me....:

Late Summer: Foleo, WM6 upgrade for Treo 750 (and probably start selling the 750 pre-loaded with WM6)

Correct.

October: Treo 755w (CDMA WM6 Treo, identical to 755p 320x320 240x240 screen)
Treo 780 (GSM WM6 Treo, 320x320
240x240 screen, either wi-fi or GPS built-in)

You're being too optimistic, you should know by now that Palm is +3 years behind the competition.....


Spring '08: First Plinux Treo(s)

Correct.

Palm Vx (a classic) -> Palm 505 (*yawn*) -> Dell Axim (slooow...) -> Palm TE (great) -> Qtek 9090 (great idea, lousy platform) -> Nokia 6630 (a toy) -> iMate SP3i (not bad) -> Nokia 9300 (can't sync notes!!) -> Treo 650 (awesome) -> hw6915 (almost perfect)

Reply to this comment

Bono anyone?

numlock @ 6/4/2007 2:21:26 PM # Q
Does anyone else find it totally bizzaro that Bono will now own a significant stake in Palm?

Maybe his synergies can help bring the Foleo to Africa?

RE: Bono anyone?
hoodoo @ 6/4/2007 2:28:57 PM # Q
Well, we probably won't see any more U2 iPods, methinks.

How about a Bonofoleo? Transparent yellow screen and free debt relief!

That's it, maybe Elevation will get Palm debt-holders to forgive all in a few years time, lol.

Reply to this comment

Elevation Partners

bambuhiphop @ 6/4/2007 3:01:31 PM # Q
I think this is a smart move by Palm. Elevation is a good investment firm. Roger owns a 30% stake in Forbes. They invest larges amounts of money in companies that they see a future in. They have put money into video game companies and websites. You won't see Bono anywhere near Palm (imo). He is business partners with Roger and isn't heavily involved at Elevation. They are cool guys thought. They are on the ball with a good eye on emerging technology and trends. After hearing this news I feel a little better about the future of Palm... I hope.

RE: Elevation Partners
SeldomVisitor @ 6/4/2007 3:04:03 PM # Q
I think this was the ONLY choice for PALM:

== "...We were approached by larger parties over the last six
== months," Palm Chief Executive Ed Colligan said, declining
== to be more specific. "The reality is that we thought this
== was the best outcome for our business and our investors..."

RE: Elevation Partners
SeldomVisitor @ 6/4/2007 3:05:41 PM # Q
Apologies - I should have noted that "last 6 months" is a timeframe that predates the exuberant buyout rumor price pump, thus those Big Guys who approached PALM could EASILY have offered something WAY below the current price.

RE: Elevation Partners
bambuhiphop @ 6/4/2007 3:27:19 PM # Q
I would not disagree with that it was the only choice. They have really backed themselves into a hole the last few years.

Limited options for some greedy b@stards
The_Voice_of_Reason @ 6/4/2007 3:34:23 PM # Q
I think this was the ONLY choice for PALM:

== "...We were approached by larger parties over the last six
== months," Palm Chief Executive Ed Colligan said, declining
== to be more specific. "The reality is that we thought this
== was the best outcome for our business and our investors..."


No, they had another option: release devices that are actually worth buying and provide value for money.

Naw... forget that... they didn't have any other options.

TVoR

RE: Elevation Partners
hotpaw03 @ 6/4/2007 5:21:28 PM # Q
someone wrote:
> No, they had another option: release devices that are actually worth buying and provide value for money.

Sony tried that and made so much profit they had to shut the division down. Releasing cool tech doesn't do a company any good unless there are enough customers willing to pay a high enough price.


RE: Elevation Partners
rmhurdman @ 6/4/2007 5:33:33 PM # Q
"They invest larges amounts of money in companies that they see a future in."

As opposed to blowing it all at the casinos. Because some investment managers, instead of investing money in companies they see a future in, go to the casino.

Since typing sometimes leaves your expression without the intended stress, maybe you meant that they invest large amounts of money instead of large amounts of bananas and elephant droppings. Which, in the case of Palm Inc, might have been an equally appropriate alternative.

People are right to say that with Rubicon, things are looking up at Palm Inc. But they don't seem to be in a better cash position and their collective brainpower seems to be fizzling.

For all the posters who continue to hold on to hope, I suggest waiting for Access to showcase their ALP at LinuxWorld in August. I bet we see their software on way more numerous and advanced devices in the future (compared with Palm), despite most of them appearing in Asia. Cellphones make tonnes more sense in Asia than in North America anyway (probably due to population density and reduced regulation).

RE: Elevation Partners
LiveFaith @ 6/4/2007 8:29:35 PM # Q
What's ALP? Anybody heard of that?

Pat Horne
RE: Elevation Partners
ChiA @ 6/5/2007 5:01:49 AM # Q
"They invest larges amounts of money in companies that they see a future in."
As opposed to blowing it all at the casinos. Because some investment managers, instead of investing money in companies they see a future in, go to the casino.

Since typing sometimes leaves your expression without the intended stress, maybe you meant that they invest large amounts of money instead of large amounts of bananas and elephant droppings.

Well those who invested people's pensions into Enron and Worldcom would have had a much better return on their investment if they had gone to the casino!

Also it's not unknown for a company to be purchased because the investors see greater value in it being broken up than being left as it is.

There also times when a deal is more favourable to the short term interests/greed/dogma of the broker than the long-term interests of the fund owners, assuming that the fund owner is even in it for the long term.

I do hope that the new directors can impress upon the rest of the board a sense of urgency in bringing Treos up to date with competing products.

It's notable that even the recently announced Blackberry Curve 8300 comes with a 2 megapixel camera, 3.5mm headphone jack and music player.

RE: Elevation Partners
LiveFaith @ 6/5/2007 8:21:47 AM # Q
** comes with a 2 megapixel camera, 3.5mm headphone jack and music player **

Unnecessary! These are phones, so it must be 2.5mm. Better to have a quality VGA camera than a bad 2mpx one. Next you'll be asking for WiFi and other frivolities that Palm has told us clearly we don't need!

Pat Horne

RE: Elevate THIS Baby!!!
The_Voice_of_Reason @ 6/7/2007 12:00:21 AM # Q
People are right to say that with Rubicon, things are looking up at Palm Inc.


Rubicon? W T F? Another Michael Mace biotch in da house, yo!


> No, they had another option: release devices that are actually worth buying and provide value for money.

Sony tried that and made so much profit they had to shut the division down. Releasing cool tech doesn't do a company any good unless there are enough customers willing to pay a high enough price.

It appears that you're under the (mistaken) assumption that "actually worth buying and provide value for money" somehow is synonymous with "cool tech" and "a high... price". Quite the contrary. $10 in parts, some attention to detail and more intelligent design is all it would have taken for most of the devices Palm has released over the past 6 years to have evolved from buggy betaware to "actually worth buying and provide value for money". Therein lies the rub: Palm has been SO close to providing good designs that Palm Faithful keep hoping Palm's potential will eventually be realized... before the company is ransacked and completely burned to the ground by Palm's management.

On the high end of portable hardware, anyone who has owned Sony's CLIE UX50, TH55 or VZ90 models was able to get a glimpse of the potential that Palm gave up on. Imagine what could have happened if Sony had merged ideas from the CLIE UX50 and the Vaio UX series? The Holy Grail of mobile computing would have arrived.

TVoR

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Exclusive: Bono's hands on review of the Foleo!

hoodoo @ 6/4/2007 3:36:53 PM # Q
"I still haven't found what I'm looking for"

"I'm feeling numb"

"lemon (extended fooleo mix)"

RE: Exclusive: Bono's hands on review of the Foleo!
The_Voice_of_Reason @ 6/4/2007 4:01:23 PM # Q
LIAR!:

Even Better Than The Real Thing

Gloria

Hold Me, Thrill Me, Kiss Me, Kill Me

I Will Follow (up with more models)

In God's Country

Joy

Miracle Drug

Mofo

Mysterious Ways

Original Of The Species

Wake Up Dead Man (Yankowski's theme)

Reply to this comment

Thank you Jesus...

surfmaniac @ 6/4/2007 5:14:17 PM # Q
Sweetness..!!! this is a big win-win for those of us who got in early.

PS Would be curious to get 'Cervezas' thoughts on the possible new product direction/implications et al. of the new team (and yes, good they got rid of Eric Benhamou... isn't he the same guy who drove 3Com into the ground?)


thanks/.

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What Steve Jobs Had To Say About It

mikecane @ 6/4/2007 5:17:16 PM # Q
RE: What Steve Jobs Had To Say About It
rpa @ 6/4/2007 5:39:38 PM # Q
LOL...."Chinese take out place in Mountain View"....

rpa
Reply to this comment

25% stake sale and the Foleo

Ervool @ 6/4/2007 6:14:21 PM # Q

First, the sale of 25% of Palm to someone, anyone, is positive news for Palm's comunity. If one of the buyers happens to be a good engineer with experience in design of succesful products, like the iPod, then is even better news.

Palm desperately needs a new management team that helps it define a new strategy and helps implementing it without making a lot of mistakes (selling the OS, selling the name, purchasing the name again, licensing several OSes that make Palm lose focus, etc.)

However, I really hope the new management team had nothing to do with the Foleo introduction. I can't see what this product market is. Its not a PDA nor a smartphone nor a laptop, still it does nothing new to what any of those three products have been doing for years.

I would think that a very good percentage of the owners of a smartphone own a PC (most of them a laptop). They use the PC to read email, attachments and browse the web. They also use the PC to create and give presentations, to create spreadsheets with simulation models, quotes, sales analysis, etc. They also use a word processor to write reports and letters, and usually spend some time using the PC to view their family pictures and movies. Maybe they even spend a few hours playing mindless games like tetris or the ocassional solitarie. With all these uses, modern multi-gigabyte drives can barely keep up.

Now here comes the Foleo. It has Wi-Fi so I can surf the superinformation highway. So has my laptop. It has bluetooth so I can use my phone if Wi-Fi is not available. So has my laptop. It has a very thin, very light form that makes it easy to carry around. So has my laptop. It has a big, shiny 10 inches screen. So has my laptop. It has 128mb of solid state memory. My laptop has 2gb of RAM and 120gb of hard disk space. It has a 5-hour life battery. So has my laptop.

So what exactly does the Foleo do that my laptop doesn't? Nothing. It is basically a crippled laptop. Even at the $500 price I think I can get a very basic laptop with everything but bluetooth, that would set me back an extra 50 dollars.

The Foleo can replace my laptop? Not really, you can't install a full-blown office suite, but only a crippled down version. It can't carry the 10gb of pictures and home movies either. So if you want to to that you'll have to haul both units in your already crowded suitcase.

Maybe I am completely lost in the blue abyss, but I suspect that by this day next year the Foleo will be just a bad dream.

Now Palm, please give us a new PDA with some nice new features, even if it is not that good you will sell millions of them before the PDA market completely disapears.

Cheers,

RE: 25% stake sale and the Foleo
sgiga @ 6/4/2007 7:30:34 PM # Q
With the Foleo you cannot bring with you family pictures, you cannot bring with you years of word documents and so on. The point is that when travelling you dont WANT to bring all that, you want to leave it safe at home. What you want is to be able write and send/read emails, surf the web, read the news, check your bank accounts, and you want to do it quick and effectively - full size keyboard and instant on. Then you want to show your presentations. Nevertheless, you still have gigabytes available in sd cards and usb sticks if you want.

A mobile phone alone will not cut it, it will not do it efficiently enough because of small physical size, still you absolutely need it. A typical laptop today is the "mainframe" at home and work with a large power consuming screen, large HD, DVD drive - and with a worn out battery that last for 5-10 minutes due to being constantly wired to the charger when in use. So you need another laptop for traveling, it has to be small, as small as possible, it has to be light, instant on, long battery life etc etc. Now there are two alternatives, a super-mini laptop that cost 2-3k that has everything you don't need, or a Foleo that cost 4-5 hundred and has everything you DO need when travelling.

IMO the Foleo makes perfect sense. The things that makes less and less sense are smartphones and PDAs, but smartphones makes much less sense than PDAs.

RE: 25% stake sale and the Foleo
Ervool @ 6/4/2007 7:56:06 PM # Q

For the well being of Palm, I hope many people think like you and go out and buy a Foleo and are prefectly happy with it.

I travel a lot at work, so for me hauling a laptop everywhere is a must and I DO need a copy of all those gigabytes of old files close at hand.

Maybe there is a market for a 500 dollars crippled laptop, but I fail to see it. Right now you can log to Dell and buy a basic (512Meg RAM and 60GB hard disk) laptop for 550 dollars.

Cheers,

RE: 25% stake sale and the Foleo
rpa @ 6/4/2007 9:21:57 PM # Q
I also travel with a full function notebook...it's my only PC in fact...and have no need for a Foleo type device. Add a T|E for basic PDA use and a cheap Moto flip phone, and I am in business. I could see a small, flip phone PDA replacement in my future like an updated Treo 270 but don't see it coming from Palm anytime soon. Another business press article I read predicted it will take 18 months for anything exciting to come from the Palm acquisition so don't hold your breath particularly with Palm management's 'staying the course' attitude.

rpa
RE: 25% stake sale and the Foleo
sgiga @ 6/5/2007 2:22:59 AM # Q
Well, judging by how the Foleo is percieved here in geekland PIC, i'm sure alot of you will purchase one and then trash it just to make a statement ;-)

What convinse me that I am right and "you" are wrong is that you do not understand that the iPhone will be a flop. In the US it will sell some, but in Europe and Asia where the real marked is it will not sell at all. SMS is just as important as talking, and a phone without a numpad is like a bicycle without wheels, it does not work. The iPod is oldfashioned and nobody wants it anymore, they rather purchase a SE or Nokia walkmanphone with gigabytes of SD card to hold and play their music. Why would someone purchase an iPod with a useless phone?

Then, why is the PDA market plummeting? It is NOT because of smartphones, it is because ANY mobile phone have all the things that PDAs used to have; addresses, apointments, sync with desktop and so on. The PDA is a geeky redundant device, and probably allways have been. The next thing to plummet will be the smartphones because they too are only clunky geeky redundant devices that offers nothing more than a standard SE or Nokia.

Now, the Foleo is NOT a geeky redundant device. The Foleo offers something that has never before been offered; instant access to email and web in an efficient and intuitive manner (real keyboard and screen) at a price that most people can afford. It can, and will, be used by anybody, well - maybe anybody except the geeks.

RE: 25% stake sale and the Foleo
Ervool @ 6/5/2007 11:17:36 AM # Q

Last I heard the sales of iPod were nothing but accelerating. I won't speculate on the iPhone will flop, but I think I give it a bigger chance of success that the Foleo. We'll see... Then again I predicted the demise of the LifeDrive the very first day it appeared, so maybe I am on to something :P

Cheers,

RE: 25% stake sale and the Foleo
hkklife @ 6/5/2007 11:21:35 AM # Q
The ONLY thing that can kill iPod sales are over-saturation and if Apple begins to neglect the product ala Palm and their PDA line. Apple hasn't touched the iPod since the launch of the 5.5g nearly a year ago. At the very least I'd like to see them add something like an internal FM tuner and a 100gb HD model to the mix but I can see that Apple is terrified of a revamped, higher capacity and cheaper iPod stealing the iPhone's thunder. Right now the only major criticism I have of the iPhone is its lack of a removable memory card (mind boggling!) and that it's not going to have a SIM slot. Locked GSM phones are NOT a trend I want to see emerging!



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

RE: 25% stake sale and the Foleo
SeldomVisitor @ 6/5/2007 11:23:17 AM # Q
> ...Then again I predicted the demise of the LifeDrive
> the very first day it appeared, so maybe I am on to something...

It's BA-A-A-A-AAACK!

Reply to this comment

An interesting angle and set of facts

SeldomVisitor @ 6/4/2007 7:56:30 PM # Q
RE: An interesting angle and set of facts
rpa @ 6/4/2007 9:16:33 PM # Q
good link!

rpa
Reply to this comment

Apple spies? :-)

VampireLestat @ 6/5/2007 1:31:58 AM # Q
I am intrigued by this announcement.
2 former top Apple guys now with Palm. Sounds too good to be true.

If these guys are not part of some elaborate Apple spy scheme or long term Apple acquisition tactic in order to become a smartphone oligopoly, then the change has merit.
What are these guys true intentions? Rubinstein is tired of retirement already? Anderson can't find a job because he has integrity doubts over his head? Apple spies? Anger and desire for revenge against Steve Jobs?

This change represents hope but nothing near a guarantee for handheld fans. For all we know, these Apple guys are Foleo lovers. Wouldn't they have been made aware of the Foleo plans before putting up hundreds of millions of $? Wouldn't they have to be believers? (or maybe they plan to put pressure to scrap the Foleo, or maybe to leave it go but focus on getting more devices developed -- so many unknowns).

What kind if decisional power will these guys have?
Will Ed PDA-Killer Colligan stay? Will his power change?
Will he retire with his millions and brag he took Palm from the red into the black and when he left the company they fell back into the red?

Is this iPhone terror at work?

I am looking forward to hearing comments by the new guys to see what and how they think.

In the meantime, I have resumed using my TX pending further observation on this latest unexpected surprise news.


RE: Apple spies? :-)
VampireLestat @ 6/5/2007 1:36:54 AM # Q
By the way,

In the iPhone TV ads the guy tapping the screen has amazing control over the objects.
Could it be that the iPhone is NOT using a traditional pressure touchscreen? Seems like they found a way to use a laptop-like touchpad, but made it transparent.

Is that possible? Maybe Palm should steal that idea. God knows they definitely can't come up with it on their own. Maybe those new Apple guys can reveal some of the iPhone secrets.

RE: Apple spies? :-)
TreoAnon @ 6/5/2007 8:36:31 AM # Q
The iPhone screen has a very low-res digitiser, so you can't use a stylus and have to use your finger. I seem to remember Jobs saying that's one of the things he needs to fix on the iPhone.
RE: Apple spies? :-)
SeldomVisitor @ 6/5/2007 8:47:51 AM # Q
> ...I seem to remember Jobs saying that's one of the
> things he needs to fix on the iPhone.

He did!?

Reply to this comment

What are they trying to hide behind the cash payout?

craigdts @ 6/5/2007 9:15:57 AM # Q
This deal is so stupid that they feel like they need to pay shareholders $9/share, over 50% of the current price?

I guarantee you palm had better offers . . . just none of them included keeping colligan and crew at the helm. And rightfully so.

So Palm has essentially taken on three new boards members, lost all its cash, and taken on debt (to have cash now).

Palm you could have taken someone off the street and asked them how to make the next treo - thinner. You didn't need to rape the company to do that.

Don't be surprised if palm tries to go private . . . then the shareholders really lose. Palm is stealing the company. It was in shareholders interest to sale to motorola . . . .

RE: What are they trying to hide behind the cash payout?
vorlon @ 6/6/2007 3:24:08 PM # Q
Palm you could have taken someone off the street and asked them how to make the next treo - thinner. You didn't need to rape the company to do that.

Yeah, like the battery life of current Treos is so amazing...

Reply to this comment

So everyone's happy about this?

cervezas @ 6/6/2007 1:45:50 PM # Q
Don't get me wrong: I'm glad we've got some fresh blood on the Board. But in other respects it seems to me this news is mostly good for Palm's current shareholders, not for Palm's future prospects. Looks to me like there's a $940M cash payout to the shareholders that comes substantially out of Palm's $400M cash holdings and $200M in new debt that they didn't have before. (Yes, Elevation is chipping in $325M.) To me that sounds like Palm is in a less not more flexible position financially. That aspect of the deal can't be good for their ability to innovate. I don't claim a lot of expertise in this area, but the deal seems more like a barely managed shareholder revolt than a "recapitalization." Can someone explain what I'm missing here?

David Beers
Pikesoft Mobile Computing
www.pikesoft.com/blog
RE: So everyone's happy about this?
SeldomVisitor @ 6/6/2007 2:04:04 PM # Q
> ...To me that sounds like Palm is in a less not more flexible
> position financially...

Of course - and is another datapoint that the Me-Too Media OFTEN doesn't know what they're talking about - I've read at least a few articles that talk about a "cash influx" into PALM...lol!


RE: So everyone's happy about this?
VampireLestat @ 6/6/2007 10:09:03 PM # Q
I agree with cervezas.
I am cautiously happy to see the Apple guys arrive.
But this huge payout to shareholders is what again? To avoid a revolt and everyone dumping their shares?

Wont they do that right have they get the extra 9$ bucks?

Seems to me that going into debt like that is troubling.

Reply to this comment

Eee-PC for $199

gatezone @ 6/7/2007 1:06:28 AM # Q
In light of the Foleo this is an interesting story that I came across today.

http://tinyurl.com/3bqvoj

These thin client, ultra-light, solid state memory, and instant on Linux systems are something that will perfectly complement Google apps, and other hosted services if the browser is robust enough to handle the hosted application pages.

I understand that the Foleo is light on specs at this point but I think it is the right direction. My Treo 680 gets me through the day ok, but I'd love to have a thin client 2 lb. system ready to go anywhere there is wireless.

GZ

Reply to this comment

Handheld maker Palm cuts jobs

hotpaw03 @ 6/14/2007 6:12:41 PM # Q
According to an article on CNET (2 pm 6/14), Palm is cutting jobs in the U.S. and in their development ranks.
Reply to this comment

Bad deal for Palm

TreoAnon @ 6/21/2007 1:22:18 PM # Q
This is a bad deal for Palm, Palm employees, Palm customers and Palm shareholders. This is a very good deal for Elevation Partners and their investors.

Palm has 103 million shares outstanding at $16. If Elevation had bid on buying 25% of Palm stock in the open market, 26 million shares would cost them $600 to $700 million, including a premium. This large buy will force the price up to the high-20s or better. The current arrangement allows Elevation to buy 25% of Palm at $325 million, which is half price.

Palm massively weakens itself by giving shareholders $900 million, which is paid for by the $325 million from Elevation, $400 million in borrowing and the rest by drawing down Palm's cash on hand. If Palm wanted to use cash and borrowing to raise its share price, it could buy back shares.

Under the Elevation deal, Palm will become financially weak and unable to survive a moderate downturn in revenue or a delay in a critical product introduction.

The ONLY deal Palm had. Take it or leave it, buddy!
The_Voice_of_Reason @ 6/22/2007 7:19:02 AM # Q
Actually, 25% would have cost less than what you propose, even with a reasonable bonus. Yes, the "deal" is not a good one for Palm, but it underscores how desperate the company is. If Palm had simply invested more of its cash reserves in optimizing its product a few years ago, they wouldn't be in their current death spiral. The ONLY way this deal could help Palm is if the new management revitalizes the company. The problem is that Palm's products for the next year or two have ALREADY been developed, so there's only so much new leadership can do.

Palm needs:
- Staffing cuts (first wave already done)
- Refreshed lineup (budget Treo, mildly refreshed PDAs [0$ in R&D needed!], FOOLeo launch)
- To focus on business/enterprise customers with FOOLeo and Treos. The combination of Treos with ChatterEmail + push configuration needs to be leveraged as a BlackBerry Killer. FOOLeos need to be sold as easy-to-support, virus-proof, inexpensive laptop-alternatives for businesses, grade schools, niche markets (hospitals, real estate, doctors, lawyers, writers, etc.). But in order for this to succeed, the SOFTWARE needed for each market must be COMPLETELY understood, bundled as a COMPLETE package and simply WORK, all right out of the box. If solutions aren't painless + turnkey, as a non-Windows underdog Palm can kiss its chances for market penetration goodbye.
- Effective, cohesive marketing.
- A clear vision for its product development.
- Better quality construction. How many longtime PalmOS users has Palm lost due to their frustration over shoddy hardware in recent years?
- Proper product support. (Hellooooooooo Bombay!!!) Failures like the company's refusal to fix its flagship Treo 700p's numerous bugs erode the remaining goodwill the company has among longtime PalmOS users left over form its Palm III/Palm V days. Unlike 1999, Palm isn't the only game in town anymore, so if customers aren't happy with Palm's products/support they will simply leave AND NEVER COME BACK.
- Proper communication with customers (the current Palm blog has devolved into a tragic mistake). Hire someone to administer a coherent, easily-searchable, up-to-date knowledge base that includes a listing of known "issues" with available (or planned) workarounds. Include sections on "How to" do various functions, tips etc.
- Better industrial styling. And remember that (as IBM has proven) EVERYTHING looks better in all-black. Given the type of markets (professionals/enterprise) that Palm needs to penetrate to survive, clean styling and a lineup of all-black devices would be the safest way to go.
- Better programmers. Historically, Palm's codemonkeys couldn't code their way out of a wet paper bag and the best PalmOS applications have come from third party developers. Palm needs to clear out the dead wood (partially done), license best-of-breed applications (like they did with ChatterEmail) and ensure ALL software is thoroughly beta tested before it is released.
- Realistic pricing. This isn't 1999 (with $400 Palm V) anymore, so $600 FOOLeos are going to sit in Palm's warehouses gathering dust. It's hard to grow a new platform if no one is buying the hardware... Unfortunately, Palm is competing with so many other vendors selling cheap hardware that they may almost have to sell FOOLeos at cost if they hope to achieve the critical mass of users needed to attract developers to the platform.
- A whole lotta luck. After 6 or 7 years of mismanagement, the odds are stacked against Palm.



TVoR

RE: Bad deal for Palm
SeldomVisitor @ 6/22/2007 8:06:19 AM # Q
The deal docs are somewhat unusual in that they have BoD changes, staff reductions, big dividend for existing owners, and 25% (well, sorta 25% I think) purchase all rolled into one.

All those could have been separate.

The staff reductions, for example, already are taking place.

And The Deal has a "10% dissenting shareholders cancel the deal" clause.

Maybe the whole shebang was to smokescreen a downsizing of PALM - who will notice those canned staff NOW if The Deal falls through?

10% dissenting shareholders is easily imagined, BTW, due to PUBLIC words of at-the-time 10+% individual shareholders already on record.

RE: Bad deal for Palm
TreoAnon @ 6/26/2007 9:35:55 PM # Q
The current share price is $16 and Wall Street has priced in the value of the $9 distribution. If this deal goes through, Wall Street expect the share price to drop to $7 after the distribution. I am very happy not to be a Palm employee sitting on a pile of worthless stock options.

In response to VOfRs attack on my math, 26 million shares at $16 plus a 50% premium gets to $624 million.

RE: Bad deal for Palm
SeldomVisitor @ 6/27/2007 6:24:23 AM # Q
Options will be repriced so there's no problem with that.

Stockholders who bought in at less than $9 might take some sort of capital gains hit - there may be significant stockholders "qualified" for that

Evidence: Colligan is exercising stock options regularly with "same day" transactions - buy at his exercise price, then sell at Market price. His exercise price is about 28 cents per share. This suggests fairly strongly that there exist shareholders who also bought in around 28 cents (perhaps 30-ish cents) per share - thus are facing a whopping $8.50-ish per share cap gains hit due to this Deal - I think.

Those guys may be against The Deal.

For some yet-unknown reason, PALM hasn't set the date for The Deal vote. IMHO, it has not been set because some significantly large set of shareholders balked at The Deal and PALM is attempting to convince them otherwise - no overt evidence of that, however, other than that indirect datapoint of no SEC filing yet.

RE: Bad deal for Palm
TreoAnon @ 6/27/2007 12:32:30 PM # Q
The Palm share price has hovered between the teens and the twenties for the last few years after computing in the reverse split and any stock options granted to regular employees would be based on that price. These are the worthless stock options I was talking about, and the 'de-capitalization' made no mention of repricing employee stock options to offset the collapse in the stock value.

Will another reverse split occur next year after the 'de-capitalization' goes through, to bring the share price back up from penny stock territory?

RE: Bad deal for Palm
SeldomVisitor @ 6/27/2007 12:45:51 PM # Q
The "repricing" I was talking about was due to the drop of the price from $17-ish to $9-ish due to the $9 dividend, not the normal run-of-the-mill price decline that was happening prior to the Galleon and purchase exuberance. My bad for misunderstanding what you posted about.


Reply to this comment

As always, the history behind these deals is more interesting

SeldomVisitor @ 7/3/2007 7:40:28 PM # Q
PALM has finally filed a (preliminary) proxy that outlines The Deal in detail, with a few blank spots reserved til the actual voting time.

Of particular interest, IMHO, is the part where they describe how the whole thing came to be.

For example, originally Elevation offered to buy the WHOLE company and take it private. Unfortunately, within only =3= days of offering to buy PALM for something like a $1.50 premium (maximum) over the then-current stock price, Elevation's private equity partner CHANGED THEIR MINDS and withdrew their share of the offer!

That is weird.

And no other offers were forthcoming from other potential suitors that met the BoD approval.

And they're apparently going to be paying the new top guy something like $600,000 per year for half-time work ("...does not have to work more than 50%..." or something like that).

Anywho, see the SEC filing for (almost) the whole story:

-- http://tinyurl.com/29x7m2

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