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October 1, 2009 | Wire Reports
The NHL could claim a partial victory Wednesday after a U.S. bankruptcy judge rejected bids by the league and Canadian billionaire Jim Balsillie to purchase the Phoenix Coyotes. Judge Redfield T. Baum rejected outright Balsillie's offer to purchase the team and move it to Hamilton, Canada, which the NHL had vehemently opposed. The judge upheld the league's right to decide who owns its teams and where they play. Although Baum also turned down the NHL offer, he left the door open for the league to go ahead and purchase the franchise if it amends its bid to treat Coyotes owner Jerry Moyes and ex-coach Wayne Gretzky more favorably.
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BUSINESS
June 29, 2012 | By Ryan Faughnder, Los Angeles Times
The outlook for BlackBerry maker Research in Motion darkened Thursday as it reported worse-than-expected losses and announced it would delay the rollout of its new smartphone and slash a third of its workforce. Trading was halted but when it resumed after the close of regular trading, RIM shares plunged by 15% to $7.75 at one point. Research in Motion, which saw sales of its BlackBerry hand-held devices fall sharply, said it posted a loss of $518 million, or 99 cents a share, for the quarter that ended June 2. It generated $2.8 billion in sales, down 43% from the same period last year.
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BUSINESS
March 30, 2012 | By Salvador Rodriguez
Things just keep getting worse for Research in Motion, the makers of BlackBerry devices. RIM revealed it lost three of its top leaders and also turned in poor results during the fourth quarter of 2011. Jim Balsillie, one of RIM's co-founders, resigned from the company's board. Leaving with Balsillie are also RIM's chief technology and chief operating officers, David Yach and Jim Rowan. Besides the personnel losses, the company also posted a drop in revenue. RIM brought in $4.2 billion in revenue during the fourth quarter, a 19% drop from its revenue in in the third quarter.
BUSINESS
May 29, 2012 | By Andrea Chang
Research in Motion, the struggling maker of BlackBerry smartphones, has hired two investment firms to help review its business and finances, and warned that it expected an operating loss for its current quarter. JPMorgan and RBC Capital Markets will help the company and its board of directors review its business and financial performance. "These advisors have been tasked to help us with the strategic review ... and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives," the company said in a statement.
BUSINESS
May 29, 2012 | By Andrea Chang
Research in Motion, the struggling maker of BlackBerry smartphones, has hired two investment firms to help review its business and finances, and warned that it expected an operating loss for its current quarter. JPMorgan and RBC Capital Markets will help the company and its board of directors review its business and financial performance. "These advisors have been tasked to help us with the strategic review ... and to evaluate the relative merits and feasibility of various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives," the company said in a statement.
BUSINESS
June 16, 2011 | Shan Li, Los Angeles Times
Hurt by increased competition and the lack of new hit products, BlackBerry maker Research in Motion reported disappointing first-quarter earnings. And the company lowered its outlook below Wall Street expectations, sending its shares plummeting. The Canadian smartphone maker also plans to slash an unspecified number of jobs from its workforce as it continues to struggle with production delays and decreased demand, the company said in a statement. RIM reported profit of $695 million, or $1.33 per share, for the three months that ended May 28, compared with $769 million, or $1.38 per share, in the same period last year.
BUSINESS
August 1, 2010 | By Paul Taylor
As a schoolboy, Mihal "Mike" Lazarides made iodine bombs, read all the science books in the local library and fixed televisions and stereos for "Coke and cookies." Today, Lazarides is the multibillionaire co-chief executive of Research in Motion, the Canadian manufacturer of the BlackBerry family of smart phones. Toronto-based journalist Rod McQueen's book, "BlackBerry: The Inside Story of Research in Motion" was written with the cooperation of the company and includes a foreword by Lazarides and Jim Balsillie, his co-CEO.
BUSINESS
June 29, 2012 | By Ryan Faughnder, Los Angeles Times
The outlook for BlackBerry maker Research in Motion darkened Thursday as it reported worse-than-expected losses and announced it would delay the rollout of its new smartphone and slash a third of its workforce. Trading was halted but when it resumed after the close of regular trading, RIM shares plunged by 15% to $7.75 at one point. Research in Motion, which saw sales of its BlackBerry hand-held devices fall sharply, said it posted a loss of $518 million, or 99 cents a share, for the quarter that ended June 2. It generated $2.8 billion in sales, down 43% from the same period last year.
SPORTS
September 25, 2009 | Eric Sondheimer, Staff and Wire Reports
Wayne Gretzky's tenure as coach of the Phoenix Coyotes, a period marked largely by on-ice futility, ended abruptly Thursday when "The Great One" announced he would be stepping down amid the financial turmoil surrounding the team. The Coyotes hired former Dallas Stars coach Dave Tippett hours after Gretzky announced his departure, which had been rumored as the bankruptcy court battle between Canadian billionaire Jim Balsillie and the NHL over the sale of the team dragged on. "This was a difficult decision that I've thought long and hard about," Gretzky said in a statement on his website.
BUSINESS
March 6, 2007 | From Reuters
Jim Balsillie, co-chief executive of BlackBerry maker Research in Motion Ltd., stepped down as chairman Monday as the company announced a $250-million earnings restatement relating to mistakes in how it granted stock options. RIM said it found no intentional misconduct by executives, directors or other employees responsible for administering option grants.
BUSINESS
March 30, 2012 | By Salvador Rodriguez
Things just keep getting worse for Research in Motion, the makers of BlackBerry devices. RIM revealed it lost three of its top leaders and also turned in poor results during the fourth quarter of 2011. Jim Balsillie, one of RIM's co-founders, resigned from the company's board. Leaving with Balsillie are also RIM's chief technology and chief operating officers, David Yach and Jim Rowan. Besides the personnel losses, the company also posted a drop in revenue. RIM brought in $4.2 billion in revenue during the fourth quarter, a 19% drop from its revenue in in the third quarter.
BUSINESS
June 16, 2011 | Shan Li, Los Angeles Times
Hurt by increased competition and the lack of new hit products, BlackBerry maker Research in Motion reported disappointing first-quarter earnings. And the company lowered its outlook below Wall Street expectations, sending its shares plummeting. The Canadian smartphone maker also plans to slash an unspecified number of jobs from its workforce as it continues to struggle with production delays and decreased demand, the company said in a statement. RIM reported profit of $695 million, or $1.33 per share, for the three months that ended May 28, compared with $769 million, or $1.38 per share, in the same period last year.
BUSINESS
August 1, 2010 | By Paul Taylor
As a schoolboy, Mihal "Mike" Lazarides made iodine bombs, read all the science books in the local library and fixed televisions and stereos for "Coke and cookies." Today, Lazarides is the multibillionaire co-chief executive of Research in Motion, the Canadian manufacturer of the BlackBerry family of smart phones. Toronto-based journalist Rod McQueen's book, "BlackBerry: The Inside Story of Research in Motion" was written with the cooperation of the company and includes a foreword by Lazarides and Jim Balsillie, his co-CEO.
SPORTS
October 1, 2009 | Wire Reports
The NHL could claim a partial victory Wednesday after a U.S. bankruptcy judge rejected bids by the league and Canadian billionaire Jim Balsillie to purchase the Phoenix Coyotes. Judge Redfield T. Baum rejected outright Balsillie's offer to purchase the team and move it to Hamilton, Canada, which the NHL had vehemently opposed. The judge upheld the league's right to decide who owns its teams and where they play. Although Baum also turned down the NHL offer, he left the door open for the league to go ahead and purchase the franchise if it amends its bid to treat Coyotes owner Jerry Moyes and ex-coach Wayne Gretzky more favorably.
SPORTS
September 25, 2009 | Eric Sondheimer, Staff and Wire Reports
Wayne Gretzky's tenure as coach of the Phoenix Coyotes, a period marked largely by on-ice futility, ended abruptly Thursday when "The Great One" announced he would be stepping down amid the financial turmoil surrounding the team. The Coyotes hired former Dallas Stars coach Dave Tippett hours after Gretzky announced his departure, which had been rumored as the bankruptcy court battle between Canadian billionaire Jim Balsillie and the NHL over the sale of the team dragged on. "This was a difficult decision that I've thought long and hard about," Gretzky said in a statement on his website.
BUSINESS
March 6, 2007 | From Reuters
Jim Balsillie, co-chief executive of BlackBerry maker Research in Motion Ltd., stepped down as chairman Monday as the company announced a $250-million earnings restatement relating to mistakes in how it granted stock options. RIM said it found no intentional misconduct by executives, directors or other employees responsible for administering option grants.
BUSINESS
February 6, 2009 | Times Wire Reports
The co-chief executives of BlackBerry maker Research in Motion will pay the bulk of about $77 million Canadian ($62 million in U.S. currency) in fines and restitution to settle allegations they participated in backdating stock options of the Waterloo, Canada, company. Under the settlement with the Ontario Securities Commission, co-CEO Jim Balsillie, who stepped down as chairman, co-CEO Mike Lazaridis and former chief financial officer Dennis Kavelman will pay a combined $9 million Canadian in fines and $68 million Canadian in restitution to the firm.
SPORTS
December 16, 2006 | From the Associated Press
Sidney Crosby assisted on all three of Ryan Malone's goals and scored his 16th goal Friday night to lead host Pittsburgh to a 7-4 victory over the New York Islanders. It was the Penguins' fourth victory in a row. Earlier, Canadian businessman Jim Balsillie withdrew his offer to buy the team, owner Mario Lemieux said. Balsillie, whose company makes the BlackBerry wireless messaging device, had signed an agreement on Oct. 5 to buy the team for about $175 million.
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