MobileInfocenter

Elevation Statement on Palm Progress

Elevation PartnersAs a result of the highly speculative analyst report yesterday that postulated that Elevation may be looking to divest itself of its Palm investment, Elevation Partners co-founder and Palm Board member Roger McNanmee, has released a statement reasserting their position. In short, Mr. McNammee states that Elevation remains quite excited about Palm's progress and next generation operating system and they have no plans back out of their Palm investment. The statement in full reads:

"Elevation Partners is very pleased with the progress Ed Colligan, Jon Rubinstein and the entire Palm team are making. The Company's product pipeline, including a next generation operating system due out soon and a new device targeted for the first half of 2009, excite us enormously. Elevation supports Palm in taking the difficult but necessary steps required to migrate from legacy products. We have a very long-term investment horizon and have no plans to exit our investment in Palm."

Thanks to Tech Trader Daily for the tip.

Article Comments

 (105 comments)

The following comments are owned by whoever posted them. PalmInfocenter is not responsible for them in any way.
Please Login or register here to add your comments.

Start a new Comment Down View Full Comment Thread

To the Parse-O-Meter, Sherman!

mikecane @ 11/25/2008 12:16:00 PM # Q
>>>including a next generation operating system due out soon

Um, out WHERE?

>>>and a new device targeted for the first half of 2009

Is "device" = phone or what?

And why so long between OS "out soon" and "first half of 2009" (hello, JUNE 30th!)?

Can we get a Statement on the Statement to clarify?

RE: To the Parse-O-Meter, Sherman!
hkklife @ 11/25/2008 1:16:02 PM # Q
"Due out soon" is Palm/Elevation-speak for "A brief, grainy YouTube video demo of a simulated Nova simulator "running" Nagel's Devcon Cobalt clock demo while simultaneously playing a game of Bejeweled will be posted to the Palm Blog in April '09."

http://www.palminfocenter.com/news/8437/palm-os-cobalt-video-demo/



Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p

Reply to this comment

As noted earlier

SeldomVisitor @ 11/25/2008 12:22:44 PM # Q
McNamee is possibly financially-biased in his words:

- http://www.palminfocenter.com/comments/7256/#146346

PLUS, he also released a DIFFERENT blurb on Elevation Partner's Forbes position, another that is not necessarily performing to expectations...

Reply to this comment

stupid management

happyPalm @ 11/25/2008 12:36:10 PM # Q
Palm should have at least released a wide screen PalmOS Treo like the iPhone in the intern. Now they are screwed and would take a miracle for them to come back.
Reply to this comment

Truth Translation

Gekko @ 11/25/2008 12:37:03 PM # Q

with PALM at $2.15/share, we are not very happy with our investment. we have little confidence in management given their prior track record to innovate and deliver results. however, given the current share price and the magnitude of realized losses we would suffer by divesting of this pig now, we have no choice but to hang on and pray for a miracle even though we may probably ride this puppy all the way down to zero. we must feign confidence in management and the company as to not cause a panic among current shareholders and accelerate the already accelerating death spiral. our boy ruby really screwed us on this one.

RE: Truth Translation
SeldomVisitor @ 11/25/2008 12:56:46 PM # Q
You peeked!

RE: Truth Translation
hkklife @ 11/25/2008 1:11:15 PM # Q
I nominate Gekko's enlightenment here for PIC post of the year!!

Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p
RE: Truth Translation
Gekko @ 12/4/2008 4:38:44 PM # Q

if EP like 'em at $2.15/share, they must LOVE 'em at $1.54. your boy ruby really did his homework on this one!

Reply to this comment

I'm going to buy Palm stock

Tuckermaclain @ 11/25/2008 12:40:29 PM # Q
When it becomes a penny stock. I think I'll buy some just as a souvenir of the cool little device that organizes my life. Who knows? In the unlikely event that Palm turns it around it might be worth something.

RE: I'm going to buy Palm stock
twrock @ 11/25/2008 7:47:38 PM # Q
You know, that sounds like a fun idea. Why not have a little Palm stock to go along with all the old devices I have laying around.


"twrock is infamous around these parts"
(from my profile over at Brighthand due to my negative 62 rep points rating)
RE: I'm going to buy Palm stock
SeldomVisitor @ 11/26/2008 2:44:41 AM # Q
If serious, buy the shares then ask your broker for the stock certificate(s).

And do it quickly...


Reply to this comment

Leak something, already!

dagwud @ 11/25/2008 1:24:52 PM # Q
It's great that they're committed to their investment. Cool beans.

But they're hemorrhaging users as fast as money. Give us some reason to wait rather than jumping ship as soon as StyleTap and Apple work things about.

Blurry camera phone picture or video, mockup of the UI, a list of what's done and what's left, SOMETHING.

I mean, even Microsoft shows off alpha versions of the next iteration of Windows.

(Sorry. Rant over. I realize I'm becoming repetitive.)

-
PalmPilot Pro (1997) -> III (1998) -> Vx (1999) -> m500 (2001) -> m515 (2002) -> Tx (2007)

RE: Leak something, already!
SeldomVisitor @ 11/25/2008 1:51:54 PM # Q
> ...I mean, even Microsoft shows off alpha versions of the next
> iteration of Windows...

Based on the latest rumor poop in the Me-Too Media (today), MSFT may be showing off their Zune phone soon.

RE: Leak something, already!
keithd @ 11/26/2008 5:48:00 AM # Q
As a long time user-supporter of Palm I have to agree that it would take more than miracle to stay with the Company. I'm still using my Palm TX and it is still working but it is really showing its age with the current group of items on the market.

My daughter in law was looking at getting a "PDA" and in looking at the market we really do not have it as a segment anymore. Everything is either a smart phone or a cheap type "PDA" / calculator.

I have held off replacing my TX and I'm not sure what direction I will take. Right now the i-Phone is leading the list with Blackberry\Blackjack a strong second. I do not want to go to the dark side with MS. Not wanting to start a flame I'm just not a fan of MS in the handheld. I do support MS on the desktop side.

The more I hear in the i-phone the more it sound like esarly Palm. Lot of third party support and inexpensive applications catering to a wide range of users. And even though they do not use "clicks" to get where they are going it does run app with very few strokes.

Sorry for the long rant but I feel a lot of us on the list read daily and it's like a train wreck. You are pretty sure you know what is going to happen and you know you should stop watching but somehow seeing is beleiving.

Keith

Reply to this comment

NOVA on youtube

wildmantrader @ 11/25/2008 1:55:14 PM # Q
Wow this is going to ROCK!

http://www.youtube.com/watch?v=55qzXFDCC_o

RE: NOVA on youtube
SeldomVisitor @ 11/25/2008 2:02:06 PM # Q
Giggle.

You're worse than me....Lol!

RE: NOVA on youtube
dagwud @ 11/25/2008 3:41:50 PM # Q
Is it just me or does that clip sound like someone needs to fix an always running toilet?

-
PalmPilot Pro (1997) -> III (1998) -> Vx (1999) -> m500 (2001) -> m515 (2002) -> Tx (2007)
RE: NOVA on youtube
SeldomVisitor @ 11/26/2008 2:34:13 AM # Q
Microphone on same table as noisy-fan desktop box?

Reply to this comment

Why not?

twrock @ 11/25/2008 7:42:28 PM # Q
I guess I'm still inclined to believe Elevation/Palm until they don't deliver. I won't be holding my breath, but why not just wait and see? I can't see any compelling reason to state with such certainty that they won't do what they say they have planned.

If it turns out that they do pull it off, will you all come back and eat a little crow?


"twrock is infamous around these parts"
(from my profile over at Brighthand due to my negative 62 rep points rating)

RE: Why not?
freakout @ 11/25/2008 8:33:36 PM # Q
^^ Wouldn't that be a sight after all these years of bashing...

Not to say I haven't indulged in a bit of bashing myself* from time to time, but the sweeping (and baseless) claims of Nova's non-existence are just a bit too far on the whack-job side of loony for me to read them with a straight face.


*A prize** for the first person to crack the obvious joke!

** TBA

RE: Why not?
SeldomVisitor @ 11/26/2008 2:40:56 AM # Q
> ...I can't see any compelling reason to state with such certainty
> that they won't do what they say they have planned...

As one who is not exactly known as a Palm optimist, I can't see saying nothing's coming, either.

However...

It remains weirdly unclear about what Palm said is coming!

I won't rererererequote Colligan's and the CFO's words again, but exactly what they "promised" by year end is as ambiguous as what Nova will ultimately look and feel like at this time!

Are they "releasing" the WHOLE thing? Just a documented API set? An emulator and the API only? A kernel only with no UI? What? And how? And to whom?

Waiting with bated breath (or should that be...particularly in this case..."Waiting with baited breath"?)

RE: Why not?
rcartwright @ 11/26/2008 8:50:01 AM # Q
It was nice to read some sane comments regarding Palm. One thing that everyone, including people who should know better, seem to be missing is that EP made a public statement as an insider that a) confirms that Palm Nova is scheduled for release at end of year (I am betting pre CES) and b) product in first half of 09. While I recognize there is wiggle room, at the same time if there was actually no OS almost ready (and bear in mind we are talking less than 36 days here) which is the milestone b) is dependant on. EP does not want to give anyone more grounds to suck them into a shareholder suit, much less the SEC. So I surmise from the statement that something is getting ready to ship. Actually I hope for Palm's sake, there is at Treo Pro and a Treo 800 both running Nova at the FCC right now getting certified. Ideally they also have the "game changing" product there as well, but I would send the other two as well as back up products or interim products.

People have to admist that despite everything Palm has had an incredible run of luck vis a vie its competition. Neither Apple, RIM, Android or even Microsoft has hit the home run that kills Palm. Apple is having dev problems and it still has not become the darling of the business comminity or prosumers to the point that Palm can't put up a fight. RIM's Storm and Bold have not been breakaway hits and RIM still has an inferior 3rd party software market. Android is probably what would take down Palm in rev 2 or 3 but its still too undercooked for the business and prosumer market right now and if Nova meets expetations early enough then again Palm stays in the game.

I am not so worried about Palm's cash position provided Nova is as promised. There are folks out there (including EP for that matter) who can fund the road to market for a piece of the baking pie, so long as the pie looks like its going to be tasty. The carriers, ATT, Sprint and Verizon all could benefit with a Nova Palm product. ATT as a counterbalance to being Apple's bit*h, Sprint, because they need a winner of some sort, and even Verizon if they can actually get something that is a real iPhone competitor (the Storm is not). Of course all this surmises a) and b) above come to pass. Actually b) better be EARLY half of 09-Jan would not be too soon.

All that said, I am not foolish enough to not admist the fat lady is singing scales for Palm, I just object to the folks calling the time of death before it all plays out.

"Many men stumble across the truth, but most manage to pick themselves up
and continue as if nothing had happened."
- Winston Churchill

Reply to this comment

NOVA on youtube

wildmantrader @ 11/25/2008 9:21:30 PM # Q
This kid is probably farther along with his NOVA O/S than Palm is with the next gen Palm II.
RE: NOVA on youtube
SeldomVisitor @ 11/26/2008 2:43:07 AM # Q
Aside: given her (I think "her") age and what she has accomplished so far, she should do well post-college if she takes some Computer Science courses to round things out.



Reply to this comment

I am almost beyond speechless

SeldomVisitor @ 11/26/2008 7:50:10 AM # Q
== "...Elevation Partners is very pleased with the progress Ed Colligan, Jon
== Rubinstein and the entire Palm team are making..."

Especially their new marketing angle:

- http://www.palm.com/claus/?creativeID=US_BB_claus

RE: I am almost beyond speechless
PacManFoo @ 11/26/2008 8:13:38 AM # Q
Bizarre was the first word to come to mind.

Palm has officially become a toy company.

The last known classic PDA user.

RE: I am almost beyond speechless
SeldomVisitor @ 11/26/2008 8:21:21 AM # Q
If it's still up, Palm's home page is really the truly...unusual...start to this.

RE: I am almost beyond speechless
hkklife @ 11/26/2008 8:28:27 AM # Q
That is quite simply the worst-looking, SILLIEST ad campaign I have ever seen from any "big" company. This makes me years for the good ol' days of the nekkid lady holding the Palm V!

Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p
RE: I am almost beyond speechless
Gekko @ 11/26/2008 8:31:26 AM # Q

a creepy, skinny, albino, euro-trash hipster santa claus? that's almost Un-American. i bet you a liberal thought of this marketing campaign.

very disturbing.


RE: I am almost beyond speechless
hkklife @ 11/26/2008 8:58:29 AM # Q
Argh, typo! "years" = "yearn" of course!

I looked at that page again and I am filled with even MORE scorn for that ad campaign than I was previously! Ugh!



Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p

RE: I am almost beyond speechless
rcartwright @ 11/26/2008 8:58:33 AM # Q
Actually Gekko it be a Eurpoean centric ad venture. Or the basis of the rumors for canning the entire marketing department. Finally, it cound be directed at the teen demographic as its Centro related. Its sure not aimed at the PIC demo

"Many men stumble across the truth, but most manage to pick themselves up
and continue as if nothing had happened."
- Winston Churchill
RE: I am almost beyond speechless
SeldomVisitor @ 11/26/2008 9:11:23 AM # Q
> ...Or the basis of the rumors for canning the entire marketing department...

Lol!

RE: I am almost beyond speechless
numlock @ 11/26/2008 10:32:01 AM # Q
someone please explain how this campaign is supposed to make me want to use a smartphone?
RE: I am almost beyond speechless
Gekko @ 11/26/2008 11:15:35 AM # Q
>a creepy, skinny, albino, euro-trash hipster santa claus? that's almost Un-American. i bet you a liberal thought of this marketing campaign.

may i add androgynous and effeminate? surely, a liberal cooked this one up.


RE: I am almost beyond speechless
PacManFoo @ 11/26/2008 11:20:00 AM # Q
OK I'm not sure which creeps me out more, the Burger King guy or Palm's Santa.

The last known classic PDA user.
RE: I am almost beyond speechless
abosco @ 11/26/2008 11:32:57 AM # Q
At least the Burger King guy gives out Whoppers. This albino guy's next public appearance will be an interview with Chris Hansen.

-Bosco
m105 -> NX70v -> NX80v -> iPhone -> iPhone 3G
RE: I am almost beyond speechless
Gekko @ 11/26/2008 2:58:15 PM # Q

Outrageous!!!

RE: I am almost beyond speechless
mikecane @ 11/26/2008 3:51:57 PM # Q
What ... the ... fffffffffff?????!!!!!???

Oh! Oh!

I get it!!

Someone went to see The Producers (most likely got the DVD via Netflix, if not BitTorrent) and decided to Springtime for Palm the company!

Quick!! Someone take this classic clip and apply PALM subtitles!!!

http://www.youtube.com/watch?v=wd4WZ3LqCKw

It'll be their Super Bowl ad!!!

RE: I am almost beyond speechless
Poopie @ 11/26/2008 5:32:51 PM # Q
Palm...

Palm Claus slideshow

...

...

... The Aristocrats!

Oh dear
hkklife @ 11/27/2008 2:15:44 PM # Q
It's getting worse by the day

http://blog.palm.com/palm/2008/11/centrohoho.html



Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p

Reply to this comment
Start a New Comment Thread Top View Full Comment Thread
Achtung! Only the first 50 comments are displayed within the article.
    Click here for the full story discussion page...

Account

Register Register | Login Log in
user:
pass: