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  1.    #1  
    Just a few weeks ago, reports surfaced that Palm had ceased all manufacturing in China. While conceding these reports were true, Palm made statements claiming that this part of the business plan and gave no indications that this was reflective of any problem with operations.

    We now know that these statements were misleading. As a longtime investor in Palm, since 2003, I took the company at it's word and bought ###### more shares, a substantial part of my overall portfolio. Now, only weeks later, Palm has effectively acknowledged that those statements were not completely accurate, and sales will fall far short of the projections made just several months ago.

    I would like to know why Palm made such misleading statements, which led directly to a large investment in Palm stock. While I think the Pre is a great product, these misleading statements from Palm have caused me to question my commitment to the Palm platform, and make it much less likely that I will advocate anyone else buy Palm products in the future. I know a half-dozen people with Pres, and several friends bought Treos and Centros at my suggestion.

    I really can't express my how disappointed I am in the way Palm has misled its longtime investors. The double speak regarding Palm's business make me unsure about Palm's future as an independent company, and now have me questioning every claim that Palm makes.

    Two weeks ago, I was counting the days until the Pre Plus hit Sprint. Now, I'm left stunned and wondering if I should invest one more dime in Palm products or stock.

    Palm investor since 2003.
    Treo user since 2003.
    Pre user since June 6, 2009.

    Jacob Rome
  2.    #2  
    *waves to Yahoo! lurkers*
  3. #3  
    To be honest, you cannot totally blame a firm for missing their targets. Remember that marketshare is not a function of your own performance but also of your competitors. In Palm's case, everything would have gone well had Android not spread its wings and manufacturers from Samsung to Sony not embraced it.

    As much as I agree with most of your statements about the future of Palm, I do not think Palm misguided.

    As for my $0.02, (something I have preached on this forum in other threads too), I will wait till the stock drops further (which it should at the rate things are going), and pick it up on the cheap and hope Nokia/Samsung or Sony decides to place a bid on it.
  4. #4  
    Quote Originally Posted by jakerome View Post
    Just a few weeks ago, reports surfaced that Palm had ceased all manufacturing in China. While conceding these reports were true, Palm made statements claiming that this part of the business plan and gave no indications that this was reflective of any problem with operations.

    We now know that these statements were misleading. As a longtime investor in Palm, since 2003, I took the company at it's word and bought ###### more shares, a substantial part of my overall portfolio. Now, only weeks later, Palm has effectively acknowledged that those statements were not completely accurate, and sales will fall far short of the projections made just several months ago.

    I would like to know why Palm made such misleading statements, which led directly to a large investment in Palm stock. While I think the Pre is a great product, these misleading statements from Palm have caused me to question my commitment to the Palm platform, and make it much less likely that I will advocate anyone else buy Palm products in the future. I know a half-dozen people with Pres, and several friends bought Treos and Centros at my suggestion.

    I really can't express my how disappointed I am in the way Palm has misled its longtime investors. The double speak regarding Palm's business make me unsure about Palm's future as an independent company, and now have me questioning every claim that Palm makes.

    Two weeks ago, I was counting the days until the Pre Plus hit Sprint. Now, I'm left stunned and wondering if I should invest one more dime in Palm products or stock.

    Palm investor since 2003.
    Treo user since 2003.
    Pre user since June 6, 2009.

    Jacob Rome

    I understand the anger, but you might want to reconsider the bold part until you recoup your investment.
  5. cfbauer's Avatar
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    #5  
    I really don't see how we "know" those statements were misleading.

    Just because they happened within a few weeks of each other doesn't mean the events are related.
  6.    #6  
    Really? It's obvious now that the speculation was true-- they shut down factories because they had deferred orders. Except they didn't say that. It would take a gargantuan leap to think that everything was perfectly fine 2 weeks ago, but then things fell apart only in the last few days of the quarter. Products are built well before they are shipped/sold, Palm certainly knew to a fine degree how many webOS devices they were going to sell this quarter when they put out that misleading press release about the shutdown being a normal part of inventory management.

    To have the business fall short is one thing. To openly deceive investors while it is happening is something else.
  7. Tcub's Avatar
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    #7  
    Did you even read this? "I really can't express my how disappointed I am..."

    Have you gotten a response? You aren't the only investor who's upset..
    Need help with your webOS device? PM me for help!
  8. #8  
    I dont think they could have said "legally" that we are not hitting the number we were expecting and therefore have to cut back on production. wouldn't that be considered insider trading something around those lines???
  9.    #9  
    They can "legally" say whatever they want. They could have said nothing, in which case everyone would have assumed the worst. They could have said what everyone assumed. Or they could have put out a statement that while technically accurate, was clearly designed to leave the impression that everything was hunky-dory and there was nothing to worry about it.

    It's only insider trading if they tell select people that they will miss their targets, and those people trade on that information. There's no rule against making true statements to the entire public.
  10. #10  
    Quote Originally Posted by darkzone View Post
    I dont think they could have said "legally" that we are not hitting the number we were expecting and therefore have to cut back on production. wouldn't that be considered insider trading something around those lines???
    Not really. They can do a mid quarter revision to an existing 'guidance'. Surely they knew that they will not hit the numbers but you cannot hold it against them that all they did was say it was part of inventory management. There is no misguidance there.
  11.    #11  
    "Palm regularly adjusts its product manufacturing levels to manage inventory. In anticipation of the Verizon Wireless launch and Chinese New Year, we increased production levels prior to February, and anticipate ramping production back up after the Chinese New Year ends."

    All technically true, designed to assure people that things were on track while Palm knew perfectly well that quarterly sales were going to fall far short of their own estimates provided 2 months earlier.
  12. #12  
    are you talking about how production was suspended because of the Chinese New Year?
  13. #13  
    I will buy it when it drops further....i believe the OS has lots of potential...need the $$$$$ they should have a separate fund for Powerball
  14.    #14  
    I am talking about how Palm claimed production was suspended because of Chinese New Year. It's now obvious that while they suspended production during Chinese New Year, the primary reason for the suspension was poor sales.

    Palm did all but lie.
  15. #15  
    Quote Originally Posted by jakerome View Post
    "Palm regularly adjusts its product manufacturing levels to manage inventory. In anticipation of the Verizon Wireless launch and Chinese New Year, we increased production levels prior to February, and anticipate ramping production back up after the Chinese New Year ends."

    All technically true, designed to assure people that things were on track while Palm knew perfectly well that quarterly sales were going to fall far short of their own estimates provided 2 months earlier.
    I think that's the key. Technically, all they said is true, so while it may be misguidance in our eyes, it wont stand to scrutiny in court or in front of the SEC. Lots of firms do the same.

    But, to the question of whether you can trust them anymore, well....
  16. #16  
    They lied by omission. Must have learned their business model from the U.S. government.
  17.    #17  
    More than anything, it suggests that the company was far too concerned with its short-term stock price instead of being honest about the business and letting the market take care of itself. It suggests that anything that Palm says from now on has to be viewed through with the idea that Palm is systematically putting out statements aimed at shoring up the stock price.

    Let your engineers do their job. The business guys should be straightforward about the company's prospects and stop going out of their way to deceive the investment community. In the long run, it will hurt their business. The only people Palm helped with their CNY press release were so-called shorts that disbelieved Palm, while Palm investors that trusted management got burned to the tune of several hundred million dollars.

    It's almost as if they are in league with Palm bears.
  18.    #18  
    I forgot to add Palm user since 1998.
  19. #19  
    Quote Originally Posted by jakerome View Post
    Just a few weeks ago, reports surfaced that Palm had ceased all manufacturing in China. While conceding these reports were true, Palm made statements claiming that this part of the business plan and gave no indications that this was reflective of any problem with operations.

    We now know that these statements were misleading. As a longtime investor in Palm, since 2003, I took the company at it's word and bought ###### more shares, a substantial part of my overall portfolio. Now, only weeks later, Palm has effectively acknowledged that those statements were not completely accurate, and sales will fall far short of the projections made just several months ago.

    I would like to know why Palm made such misleading statements, which led directly to a large investment in Palm stock. While I think the Pre is a great product, these misleading statements from Palm have caused me to question my commitment to the Palm platform, and make it much less likely that I will advocate anyone else buy Palm products in the future. I know a half-dozen people with Pres, and several friends bought Treos and Centros at my suggestion.

    I really can't express my how disappointed I am in the way Palm has misled its longtime investors. The double speak regarding Palm's business make me unsure about Palm's future as an independent company, and now have me questioning every claim that Palm makes.

    Two weeks ago, I was counting the days until the Pre Plus hit Sprint. Now, I'm left stunned and wondering if I should invest one more dime in Palm products or stock.

    Palm investor since 2003.
    Treo user since 2003.
    Pre user since June 6, 2009.

    Jacob Rome
    Palm has failed to live up to it's reputation that it had when we had our first Palm Pilots.

    The Hardware in my view is less than desirable; I wanted a keyboard like the original treo's. Palm has always given less; it was either memory or the screen and they continue to have the same mode of business operation. Why rob of us of our Micro SD's
    and to release a phone with only 8 gig of memory; unforgivable; then on the Pre Plus they give 16 gig; what gives?

    When the Pre was release they should have had major vendors with "web os" products like Quicken, Olive Tree; Drug reference manuals. What is Palm thinking? They got a guy from apple but what are the results? I was not surprised of the report that sales figures are less than projected. "Android" will eat Palm's Lunch!

    I used to big one of Palm's biggest fan's now I am there worst enemy! I always would tell friends to get a Treo. Palm has lost it's "vision" sad but true. This is not trolling but a fact! Gas Man (Morningstar1844) Have a good day! I used to come to Treo Central 7-10 times a day. Now I come maybe once a month!
  20. sbono13's Avatar
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    #20  
    As an investor, I'm also pretty disappointed in the steady evaporation of paper profits. I'm not sure if I believe Palm has been intentionally misleading or if they were unrealistically optimistic all along. Certainly they have a wake up call now. We'll see if they have any more arrows in their quiver soon enough. Things will probably get worse before they get better.

    That said, I'd prefer that they concentrate on rolling out 1.4 ASAP. That will help buy some shareholder goodwill.
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