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  • 2 Post By clevin
  1.    #1  
    Reminds me of Nabisco and RJR corporate robbing (read "barbarians at the gate" great story). If someone has the guts we can find out what EP really did.

    Palm had finances. They were sitting on $800 million in cash and no debt before ed fooligan got paid to bring in rubenstein and EP to rob the bank. They returned all cash to shareholders, took out $400 million in debt and set up palm from the beggning to sell and try to make a buck in 2 years. A true investor would have been looking at the long term and better use of resources. Now to seal the deal looks like hp simply bout palm for the patents to package with their hardware division when they sell it. This decision to get rid of hardware department was made or forseen before palm buy. They just let palm finish a few products in the work to try and get a couple of dollars.

    Other failure was on the flashy strategy/salemanship of rubenstein. The dumped palms core which was PIM and lost most users in the process. I had my busness buy 4 pres day 1. Demanded sprint exchange them for androids at no cost 3 months later becaue of unusable PIM. They agreed. I had used palm for years, ld time treo central users may recognize me I broke the most viewed article on treocentral, the initial treo 600 description.

    I tried to tweak and find solutions but became extremely frustrated with precentral becaue they wouldn't allow complaint thread to remain even if they were finding solutions, they were lumped into an unusable mass thread. What made treo central so powerful a community was its hands off openness. Minor issue webos was underdeveloped and premature to market. They should have done PIM right first (speed and ease of use palm prior philosophy), then fine tune internet and video later. They did it in reverse and poorly at that.

    Palm has alway been a favrite of greedy walstreet, now where do they turn - a pioneer has been killed by corporate raiders. Sad to see. I would have considered returning to web os, but not precentral after they began censoring what made treocentral great and allowed them to expand to precentral, androidcentral, etc. Precentrals needed to reevaluate its mission statement or more direction from its leadership.

    Oh well. I had a soft spot in my heart for palm and am getting nostalgic watching them die a hborrible death
  2. samab's Avatar
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    #2  
  3. #3  
    I had problem with Rubinstein quite a while ago.

    He made a product (pre), and obsessed with getting close to apple, the ridiculous iTMS hack/unhack/hack again fiasco, which no users really cares, but somehow he wanted to keep getting onto it. He behaves like he is trying to re-creating an apple product, which is dumb and meaningless for palm.

    Then he pushed out Ed, sold palm to hp, in the process lost every major innovative brains of webOS.

    Then he made a touchpad, again, trying to re-create an apple like product, same shape, same price, same low screen resolution, same lack of every ports, what is wrong with this guy, does he not understand palm is not apple or what?
    cnote1287 and chalx like this.
  4.    #4  
    Yeah he simply mindlessly copied apple so he could appear to be busy while making his friends rich. Certainly didn't want it to be too obvious. And I agree the palm staff bailed with the change in corporate strategy. With rubenstein a partner in the fund EP, he simply steered palm in the direction that would get EP the fastest return on investment. Which he executed msterfully much to my dismay
  5.    #5  
    Quote Originally Posted by samab View Post
    If you believe that I've got a bridge to sell you . . . Crooks make their money indirectly.
  6.    #6  
    Quote Originally Posted by craigdts View Post
    If you believe that I've got a bridge to sell you . . . Crooks make their money indirectly.
    Let me take the bridge part back. That was rude. But I also remember an article, I wish I had saved that disclosed EP had been buying palm stock before the buyout so they made money on the stoc jump with buyout news and on the $800 million payout And then hp buy. That's news was quickly covered. I remember looking for it years ago but couldn't fnd it. No interest anymore this is more just my sadness and regrets for palm.

    Sure they may have still failed but they didn't get to try.
  7. samab's Avatar
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    EP didn't get the "payout" --- EP financed the payout.

    Palm to Announce PE Investor at 9% Premium, New Board and $9 Dividend - Seeking Alpha
  8.    #8  
    Quote Originally Posted by craigdts View Post
    If you believe that I've got a bridge to sell you . . . Crooks make their money indirectly.
    Let me take the bridge part back. That was rude. But I also remember an article, I wish I had saved that disclosed EP had been buying palm stock before the buyout so they made money on the stoc jump with buyout news and on the $800 million payout And then hp buy. That's news was quickly covered. I remember looking for it years ago but couldn't fnd it. No interest anymore this is more just my sadness and regrets for palm.

    Sure they may have still failed but they didn't get to try.

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