http://www.bloomberg.com/news/2011-06-27/rim-loses-miami-dolphins-fans-as-software-developers-defecting-to-iphone.html

As if things could not get any worse for RIM, it is now losing app developers. This is the beginning of what can turn out to be a wholesale abandonment of the development community.

RIM is losing the PR war, losing the market share war, losing the leadership war, and is losing applications developers. Losing the development community is bad for RIM.

RIM’s shareholders need to take decisive action now and replace the top management team to make the kinds of significant and positive changes needed to stop RIM from cratering.

Drastic and decisive action will stop the Wall Street bleeding while simultaneously give investors pause in dumping the RIM stock. This is partly a public relations campaign. After the recent recession, everyone will understand that publicly traded stocks’ value is mostly based on market perceptions. Think, Facebook; hardly generating any revenue and yet the Street is valuing this potential publicly traded stock on perception of its future. "Think the price of oil. The price of the stock goes up just on the news the price of oil may go up, while the Dow Jones goes down.  Perception is reality.“

RIM is generating business in Asia and other global markets, however, Wall Street could care less. The company’s ‘stock value dropped like a rock in water once the Street started with the bad news. Unfortunately, once the news starts pouring in, companies like RIM need to hire “rescue professionals” and create turnaround plans in order to save the company.

The current management is behaving like any other company I have seen that is on the brink of collapse. The behavior can be described in one word: DENIAL.

The shareholders need to identify corrective actions now. What do the shareholders plan on doing? Nothing?