New board member says RIM turnaround to take years

April 26, 2012 By ROB GILLIES , Associated Press

(AP) -- The newest board member of BlackBerry maker Research in Motion says a turnaround could take three to five years.

Prem Watsa, RIM's third-largest investor, said Thursday that he sees it a long-term investment.

The once-iconic maker of the BlackBerry smartphone is facing its most difficult period in its history. Americans are abandoning their BlackBerrys for flashier touch-screen phones such as Apple's and models that run Google's Android software.

Watsa is one of Canada's best-known value investors and the billionaire founder of Fairfax Financial Holdings Ltd. He made the comments at Fairfax's annual meeting.

RIM named Watsa to its board when Jim Balsillie and Mike Lazaridis stepped aside as RIM's co-CEOs in January. Watsa increased his stake in the company from 2.2 percent to more than 5 percent.

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not rated yet Apr 27, 2012
It is so laughable to see that they think they have years to turn the company around.

By the time they finish turning it around they will have been out of business for a decade.

1 / 5 (1) Apr 27, 2012
this chap has NO record in this field - he is whistling this tune for his own benefit. Just got a fone from these people - can't believe the lack of service - almost a optimized buisness case of failure in all the 4 Ps of marketing - Procrastination, Pompasity, Pride and Pontificating.

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