Posted by Mark J. Miller on December 20, 2013 04:33 PM
The prognosis for BlackBerry seems to be getting worse and worse. The company lost an astounding $4.4 billion in the third quarter, its seventh-straight quarterly loss.
The company started the year with high hopes that its January launch of its Z10 handset would be a game changer. Alas, it was not and things have gone downhill from there. After toying with a buyout offer from Fairfax Financial, the company announced in November that CEO Thorsten Heins would step down and be replaced by John Chen, and instead accept an infusion of $1 billion from Fairfax and shareholders.
The impression was that BlackBerry would step back from its consumer-facing business, and instead focus on software and B2B relationships. And, according to the New York Times, a new deal with Foxconn, the manufacturer of iPhone and others, will help the company do just that.
It has worked with Foxconn for some time but its new five-year partnership “seems to be a way for BlackBerry to effectively hand over some of its handset business without running afoul of Canadian foreign investment laws,” the Times reports. The pair are planning to “jointly develop and manufacture some phones with Foxconn in the future, including a new model aimed at the Indonesian market” and other emerging markets.Continue reading...
Posted by Dale Buss on December 20, 2013 09:34 AM
Target loses trust of consumers and fumbles PR response at exactly the worst time.
Aldi's boosts US store plans by 50 percent.
BlackBerry posts $4-billion loss and strikes supply deal with Foxconn.
Balance Bar kicks off "anti-diet" campaign.
Carnival sees smoother waters with "voyage disruptions" in its wake.
Delta and United make frequent-flyer requirements tougher.
Duck Dynasty clan ups ante for A&E by backing controversial patriarch.
Facebook stock sale pockets $1 billion for CEO Mark Zuckerberg.
Forbes family is in $2.5-billion tax dispute with IRS.Continue reading...
Posted by Dale Buss on December 16, 2013 09:14 AM
Amazon faces globalization of its wage dispute in Germany and experiments with delivery of large box of CPGs.
Michelin recalls 1.2 million tires.
Mercedes-Benz warns dealers of tight CLA supplies as it moves new C-Class further up-market.
AB InBev finds less is more in growing Goose Island cult brand.
Airbnb launches first national ad campaign.
Baidu adds warnings as regulators focus on Chinese stocks.
Beyonce may be blazing new marketing trail with quiet album launch.
BlackBerry edges closer to corporate abyss.
Chili's launches delivery for orders of $125 and up.
Detroit Lions urge downtown businesses to light themselves blue for Monday Night Football.
Evian fields viral baby video.
Fiat-Chrysler successor to CEO Sergio Marchionne remains vague.Continue reading...
Posted by Alicia Ciccone on November 27, 2013 09:23 AM
NHL makes NFL play with more unscripted programming, outdoor games—and concussion lawsuits.
Boston Market expects to see biggest Thanksgiving sales yet.
Burberry appeals China ban on trademark pattern.
Atlanta Braves see council approve $300 million, move to suburbs.
BlackBerry rolls out BBM social network.
Burger King expands presence in France.
Facebook tries to find balance with onslaught of sponsored posts.
Instagram is now publishing a new ad almost every day.
L'Oreal names new global CMO.
Louis Vuitton stunt in Moscow's Red Square doesn't go over well.Continue reading...
Posted by Dale Buss on November 5, 2013 09:14 AM
Apple opens Arizona plant with 2,000 workers.
Frito-Lay tests chocolate-covered potato chips.
Johnson & Johnson pays $2 billion fine for false marketing of drugs.
AOL boosts ad sales but sees profits hurt by local news services.
Allen Edmonds sells to private-equity firm.
BlackBerry abandons sale process.
Christie's starts out new auction season badly.
Coca-Cola predicts personalized beverages using genomics.
DirecTV profit rises on more subscribers.
Dodge expands Ron Burgundy campaign to entire brand lineup.Continue reading...
Posted by Mark J. Miller on November 4, 2013 01:42 PM
BlackBerry seems to have more than a few lives. The company that has had one foot in its grave for months now has been revitalized through an infusion of $1 billion from its largest shareholder, Fairfax Financial Holdings and “an unnamed group of institutional investors,” according to the New York Times.
After issuing a public plea last month, the mobile company announced that it was no longer on the market, cancelling out a plan that would have seen the company go private under Fairfax Financial for $4.7 billion. The company also announced that CEO Thorsten Heins would be stepping down and will be replaced by interim CEO John Chen, formerly of Sybase, a mobile software company, who will also serve as the executive chair of the company's board of directors. Fairfax CEO Prem Watsa will also join the company's board following the investment.
Despite the decision to not go private (for the moment)—which sent shares tumbling 16 percent—there are still entities that could make bids for BlackBerry, including a group that consists of co-founder Douglas Fregain and Qualcomm.Continue reading...
Posted by Dale Buss on November 4, 2013 09:02 AM
BlackBerry sale to Fairfax falls apart as $1 billion in funding is secured, CEO Thorsten Heins steps down and shares plunge.
Kellogg plans to trim 7% of workforce by 2017 as part of global restructuring.
American Airlines and US Airways merger cleared in US, but only with broad divestitures.
AB InBev sees strong growth for Budweiser in Russia.
Alcatel-Lucent seeks to raise $2 billion for turnaround plan.
Apple's gold iPhone 5s continues flying off shelves, while Apple CEO Tim Cook backs LGBT anti-discrimination bill.
Billabong sells Canadian retail chain West 49.
Chevron pumps up spending to boost production.
Dr Pepper finds formula to Facebook success.Continue reading...
Posted by Dale Buss on October 30, 2013 09:22 AM
Amazon rolls out Kindle MatchBook program that bundles print books with discounted e-books.
Dell is officially private.
Twitter rolls out richer feed with videos, images.
AT&T puts Halloween twist on "It's not complicated" campaign with cute kids.
Barnes & Noble turns out new, lighter Nook Simple Touch GlowLight.
BlackBerry met with Facebook on potential bid.
British American Tobacco apoligizes for advertising e-cigarette brand in kids' app.
CBS said to be developing streaming news channel.
Chevrolet faces "B Strong" backlash.
Chrysler profits are boosted by pickups and SUVs.
Comcast's rebranded Xfinity TV Go app will stream like TV from anywhere.
Facebook reportedly offered $1 billion to buy Snapchat.Continue reading...