http://www.wirelessweek.com/News/2011/07/RIM-1M-New-Subscribers-EMEA-Business/

I congratulate RIM for boosting its numbers in EMEA. However, it is an age-old trick that new technology companies in North America have used to generate their first revenues and sometimes to boost unit sales. Unfortunately, RIM’s revenue numbers are dropping.

It is math. The company is losing money.

It is leadership. The company is driving off a cliff and it is obvious the company has no leadership, neither from the CO-CEOs nor from the board.

In case you are thinking the board could have nothing to do with what is going on, you would be wrong. A board of directors is required to review the performance of a board chairman. Only the most dismal and incompetent boards fail to manage the board chairman and also fail to recall their overall job is to provide an accounting of the company's performance to the shareholders. In the end, both parties are accountable to the shareholders.

I have said RIM is rapidly becoming another Nortel. In the case of Nortel, the company brought in Mike Zafirovski too late to save it. Despite the efforts of Mike Zafirovski, Nortel shut its doors.

EMEA is an important market region(s). However, the various stock exchanges around the world do not care. Further, it is all in the numbers, RIM's revenue is dropping steadily despite its growth in EMEA. I wonder if RIM is dumping product in EMEA just to boost its subscriber numbers - an old trick in the business.

EMEA will be lost to them in less than 6 months. Between the iPhone and the plethora of Android phones, RIM does not stand a chance.

The market that RIM has to sell to the age bracket of 12 years to 30 years, the more important and emerging spender and user of media services. RIM’s marketing efforts to this segment has been horrendous. What is there more to say? The “anonymous RIM employee” who wrote the “anonymous letter” is correct.

My frustration with such incompetence and lack of accountability to shareholders is boiling over. I see a great company headed for disaster. From my perspective, having been involved in a multitude of technology company restructurings/turnarounds this company has all of the makings of a train wreck. In my past postings I gave Nortel time and points for its efforts - Zafirovski was brought in too late but he was the right guy for the job. A successful turnaround starts with identifying the root causes for the company’s troubles followed by bringing in the right team. None of this is happening at RIM, which is why I am beginning to think this company is done.