http://www.wirelessweek.com/News/2011/07/Research-In-Motion-Anonymous-Criticism-Business/?et_cid=1758161&et_rid=259458880&linkid=http%3a%2f%2fwww.wirelessweek.com%2fNews%2f2011%2f07%2fResearch-In-Motion-Anonymous-Criticism-Business%2f

RIM is in trouble and the board has developed a plan that results in a set of recommendations that are due in January 2012. The company is finished.

I cannot begin to find the words to express my dismay over the actions of RIM’s Board of Directors. My issue is the timing; specifically the timing of when the Committee will be issuing its recommendations to the Board. Bottom line, restructuring and turning around a company is all about speed and making correct decisions.

The executives of RIM have likely told the Board of Directors that a quality decision takes time and when all things are stable that is true. However, we are looking at a company in a state of collapse. Timing in this case is all about making decisions quickly. The Board needs to make decisions about the company’s direction and management team now and not in January 2012.

The executive team of RIM is behaving like the classic management team that has been caught doing stupid things and is now doing everything it can to save itself. The executives of RIM believe they are the answer to RIM’s troubles; that is so far from the truth.

Whoever this anonymous email writer is, it is a person with knowledge about the company. I do not believe the executive team of RIM cannot figure out who sent the email, my gosh they are supposed to be a technology company. What does it matter if the employee was disgruntled and not in good standing? Look at what is happening to the company. RIM has lost significant market share over the past two years and it is accelerating.

Bottom line unless the Board of Directors for RIM removes co-CEOs Jim Balsillie and Mike Lazaridis now, this company will see massive losses before the summer is over and the company will be sold for pennies on the dollar.

Taking proactive and aggressive steps to turn the company around in January 2012 will not result in saving the company. A series of actions need to be taken now. Some of these actions include developing a coherent sales and marketing plan, which the company does not possess now. Another one of the actions that need to take place is the removal of co-CEOs Jim Balsillie and Mike Lazaridis.

This so-called Committee is not even charged with looking beyond the executive management structure. Obviously, this Committee was setup to save the jobs of co-CEOs Jim Balsillie and Mike Lazaridis.

The shareholders of RIM need to take steps to take charge of turning around RIM. I fear that unless significant steps are taken to perform a massive operational and financial restructuring resulting in a turnaround scenario, we will be seeing Canada’s next major telecom bankruptcy.

As for shareholders and large institutional investors thinking they can recoup their losses by selling or licensing RIM’s intellectual property, you can kiss that chance goodbye. RIM’s core wireless email patent is not owned by RIM, it is owned by USA-based NTP. RIM has nothing in its intellectual property portfolio that will be worth anything. Forget about getting a high price for remiaining RIM patents. Just because Nortel’s patent portfolio just sold for billions does not mean RIM’s portfolio is worth billions. Without the ability to license the core wireless email patent, RIM has no IP of value.