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Microstock Photography Forum - General => General Stock Discussion => Topic started by: Freedom on November 05, 2013, 11:24
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Just read an interesting article about Blackberry's new CEO and how he led a near death company back to life many years ago: http://www.cbc.ca/m/touch/canada/story/1.2355704 (http://www.cbc.ca/m/touch/canada/story/1.2355704)
Turnaround track record
Sybase was a classic California software start-up from the 1980s. A bunch of computer nerds operating out of someone's basement were suddenly doing deals with Microsoft.
Ten years later, the company had fallen on hard times. That's when Chen stepped in.
According to that 12-year-old interview, Chen's strategy was twofold: to look ahead to what the economy needed next, but also to forget about shareholders who want an instant return and instead work to satisfy employees and customers.
"If the employees are worrying about their jobs every other day," Chen told the Journal, "there's no point how brilliant your plan is, they aren't going to stick around." Whereas when you cater to stock speculators, "You do something, the stock moves up, they sell it."
There is a certain irony in the fact that just before John Chen's arrival, BlackBerry announced it was cutting 40 per cent of its staff. And with new $1 billion in investment capital raised with the help of Fairfax's Prem Wasta, Chen will have time to try out his new strategies. Chen himself is investing his reputation.