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Jim Balsillie gets the boot (Mod - concern over future RIM sponsorship)

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01-22-2012, 09:00 PM
  #1
MayDay
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Jim Balsillie gets the boot (Mod - concern over future RIM sponsorship)

Jim Balsillie and his co-CEO are "stepping down" from their positions at RIM.

http://www.engadget.com/2012/01/22/rim-ceo-quits/

Humbling downfall for the one-time would-be NHL owner. Assuming that most of his personal wealth is tied-up in RIM stock, which has been cratering over the last year, the NHL has to be counting its lucky blessings that it dodged that bullet. Thank goodness for Gary Bettman's leadership.

I wonder what RIM's ongoing troubles mean for their sponsorship partnership with the league?

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01-22-2012, 09:11 PM
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Quote:
Originally Posted by MayDay View Post
Jim Balsillie and his co-CEO are "stepping down" from their positions at RIM.

http://www.engadget.com/2012/01/22/rim-ceo-quits/

Humbling downfall for the one-time would-be NHL owner. Assuming that most of his personal wealth is tied-up in RIM stock, which has been cratering over the last year, the NHL has to be counting its lucky blessings that it dodged that bullet. Thank goodness for Gary Bettman's leadership.

I wonder what RIM's ongoing troubles mean for their sponsorship partnership with the league?
Goodbye Jim, we hardly knew ye.

Perhaps it's good for RIM, but who will be Hamilton's saviour now?

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01-22-2012, 09:16 PM
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Dron, I think jim is done. He has no money to fund a team.

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01-22-2012, 09:17 PM
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Dron, I think jim is done. He has no money to fund a team.
No doubt, I'm just wondering who will be next; if anyone, ever.

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01-22-2012, 09:25 PM
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Quote:
Originally Posted by MayDay View Post
Jim Balsillie and his co-CEO are "stepping down" from their positions at RIM.

http://www.engadget.com/2012/01/22/rim-ceo-quits/

Humbling downfall for the one-time would-be NHL owner. Assuming that most of his personal wealth is tied-up in RIM stock, which has been cratering over the last year, the NHL has to be counting its lucky blessings that it dodged that bullet. Thank goodness for Gary Bettman's leadership.

I wonder what RIM's ongoing troubles mean for their sponsorship partnership with the league?
They are still contractually obligated to pay the league whatever sponsorship money they agreed to regardless of who the CEO is. After the current contract is up they might not renew it, but as bad as the company is doing now it would be hard for them to give up one of their biggest ways of getting their name out there.

Isnt Jim part founder of the company? Just because he stepped down as CEO does not mean he is no longer on the board of directors nor does it mean he no longer has stock options and no longer as any say in the company. Every time Steve Jobs stepped down from Apple he still owned a considerable part of the company and still had a lot of power.

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01-22-2012, 09:31 PM
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Quote:
Originally Posted by MayDay View Post
Jim Balsillie and his co-CEO are "stepping down" from their positions at RIM.

http://www.engadget.com/2012/01/22/rim-ceo-quits/

Humbling downfall for the one-time would-be NHL owner. Assuming that most of his personal wealth is tied-up in RIM stock, which has been cratering over the last year, the NHL has to be counting its lucky blessings that it dodged that bullet. Thank goodness for Gary Bettman's leadership.

I wonder what RIM's ongoing troubles mean for their sponsorship partnership with the league?
That's a pretty big assumption to make, MayDay.

Edit: What I mean is that mere millionaires can become NHL owners. JB's wealth may not be as high as was publicly speculated several years ago, but how much is enough? More than Hulsizer or Reinsdorf perhaps?


Gary has more problems these day than Jim, I'd gander.

Quote:
As for Mike and Jim? The former will become "vice-chair of the board with special duties to examine innovation," with the latter becoming a traditional director.

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01-22-2012, 09:37 PM
  #7
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Originally Posted by dronald View Post
No doubt, I'm just wondering who will be next; if anyone, ever.
It will likely be a couple of decades (at least) before they're a target again. Copps is pushing 30 years old, and nobody (apparently) wants to fork over the cash to renovate it or build a new arena to lure in an NHL team. Markham might be an option, but the GTA is pretty much dead as a target otherwise. Hopefully the Phoenix situation can be resolved and we can bury all of this Balsillie business for good...

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01-22-2012, 10:03 PM
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Quote:
Originally Posted by worstfaceoffmanever View Post
It will likely be a couple of decades (at least) before they're a target again. Copps is pushing 30 years old, and nobody (apparently) wants to fork over the cash to renovate it or build a new arena to lure in an NHL team. Markham might be an option, but the GTA is pretty much dead as a target otherwise. Hopefully the Phoenix situation can be resolved and we can bury all of this Balsillie business for good...
I could try taking over and be like an average NHL owner running Hamilton. Can Heins get Hamilton a NHL team? No Basille, No Hockey.

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01-22-2012, 10:15 PM
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Quote:
Originally Posted by MayDay View Post
Jim Balsillie and his co-CEO are "stepping down" from their positions at RIM.

http://www.engadget.com/2012/01/22/rim-ceo-quits/

Humbling downfall for the one-time would-be NHL owner. Assuming that most of his personal wealth is tied-up in RIM stock, which has been cratering over the last year, the NHL has to be counting its lucky blessings that it dodged that bullet. Thank goodness for Gary Bettman's leadership.

I wonder what RIM's ongoing troubles mean for their sponsorship partnership with the league?
Quote:
Originally Posted by Fugu View Post
That's a pretty big assumption to make, MayDay.

Edit: What I mean is that mere millionaires can become NHL owners. JB's wealth may not be as high as was publicly speculated several years ago, but how much is enough? More than Hulsizer or Reinsdorf perhaps?


Gary has more problems these day than Jim, I'd gander.
Not really. IIRC, his 31.1M shares of RIMM (reported as of last June) would have accounted for >90% of his $1.8B Net Worth (as reported by Forbes last March) - now worth ~$528M (although with a likely, at least short term, bump coming after his depature), down from ~$2B a year ago, $2.5B when the Phoenix Soap Opera started, and a high of >$4.5B at RIMMs peak in 2008.

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01-22-2012, 10:31 PM
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Originally Posted by kdb209 View Post
Not really. IIRC, his 31.1M shares of RIMM (reported as of last June) would have accounted for >90% of his $1.8B Net Worth (as reported by Forbes last March) - now worth ~$528M (although with a likely, at least short term, bump coming after his depature), down from ~$2B a year ago, $2.5B when the Phoenix Soap Opera started, and a high of >$4.5B at RIMMs peak in 2008.

So he just held all the stock he was ever granted?

The more important point is that this net worth is perhaps still higher than that of Hulsizer or Reinsdorf.

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01-22-2012, 10:55 PM
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So he just held all the stock he was ever granted?
The more important point is that this net worth is perhaps still higher than that of Hulsizer or Reinsdorf.
Apparently so, as Directors & Executives etc of publicly traded companies as you know are required to divulge stock sales, exercising options & purchasing etc... and ya, maybe. Isnt JR listed at app. $350M?. Hulsizer who knows or even cares
anymore...

Lets just hope he goes away....

For good.

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01-22-2012, 11:04 PM
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Originally Posted by worstfaceoffmanever View Post
It will likely be a couple of decades (at least) before they're a target again. Copps is pushing 30 years old, and nobody (apparently) wants to fork over the cash to renovate it or build a new arena to lure in an NHL team. Markham might be an option, but the GTA is pretty much dead as a target otherwise. Hopefully the Phoenix situation can be resolved and we can bury all of this Balsillie business for good...
Markham does have an Owner. Rudy Bratty.

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01-22-2012, 11:05 PM
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No doubt, I'm just wondering who will be next; if anyone, ever.
Do we even have any billionaires in Hamilton?

It's Markham or bust for the GTHA.

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01-23-2012, 12:33 AM
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Dron, I think jim is done. He has no money to fund a team.
I wouldn't bet on it. Billionaires usually have a knack for bouncing back, as they use down times to reinvest and diversify their portfolios. Balsillie may never be as rich as he once was, but he may very well regain his 10-figure club membership sometime in the future.

His NHL dream, though, is likely over. He's burned his bridges.

Quote:
Originally Posted by worstfaceoffmanever View Post
It will likely be a couple of decades (at least) before they're a target again. Copps is pushing 30 years old, and nobody (apparently) wants to fork over the cash to renovate it or build a new arena to lure in an NHL team. Markham might be an option, but the GTA is pretty much dead as a target otherwise. Hopefully the Phoenix situation can be resolved and we can bury all of this Balsillie business for good...
There are a couple groups that reportedly are still looking to add a second NHL team to the Golden Horseshoe. Bill Daly confirmed in 2009 that a group, led by former Toronto Maple Leaf Kevin Maguire, had approached the league about the possibility of placing a franchise in downtown Vaughan, presumably near a new subway station that is expected to open in 2015.

Earlier this year, Daly also confirmed that he had met with a Markham group, led by Bauer Chairman Graeme Roustan and billionaire developer Rudy Bratty, who are (in conjunction with the town) looking at building an NHL-caliber arena. It would be near a commuter train station and just north of a development that the town is hoping will become its downtown core.


Last edited by htpwn: 01-23-2012 at 12:39 AM.
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01-23-2012, 01:41 AM
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01-23-2012, 06:41 AM
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Apparently so, as Directors & Executives etc of publicly traded companies as you know are required to divulge stock sales, exercising options & purchasing etc... and ya, maybe. Isnt JR listed at app. $350M?. Hulsizer who knows or even cares
anymore...

Lets just hope he goes away....

For good.
He and Laz have had automatic share disposition programs in place for several years, including during the period where rim shares were much higher.

Laz's ASDP goes back to 2007.

Balsillie's ASDP started in May of 2009. In addition to about $100M in donations he would have sold up to $260M for himself in the first program alone.

JB may no longer have the resources to be a player in an NHL deal but he will not be have to hold a yard sale to pay the rent.

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01-23-2012, 07:06 AM
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Funny how I'm not seeing much talk about concerns over Blackberry sponsorship. It looks like another Balsillie=pinata thread....

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01-23-2012, 07:09 AM
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Funny how I'm not seeing much talk about concerns over Blackberry sponsorship. It looks like another Balsillie=pinata thread....
To be honest I don't se why this change would in itself impact the sponsorship.

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01-23-2012, 07:58 AM
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To be honest I don't se why this change would in itself impact the sponsorship.
I don't either. They have a new CEO. The business side of things should continue on. Perhaps RIM will go in a new direction, perhaps it will streamline it's product line, or perhaps it will just tweak the products they have. It's impact on hockey is non-existent. Sure Jim Balsillie at one time had an interest in becoming a NHL owner, but that's long past. The way people react on here, you would Balsillie was Joe Paterno...

Of course, for all we know, Balsillie stepped down because he is about to purchase a NHL franchise and needed his full attention on it...

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01-23-2012, 08:25 AM
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It's obvious why Balsillie gets play here, but to be honest when I think of RIM I will always think of Lazaridis first and foremost. He was the visionary and the soul of the company.

(To shorton724...No. Balsillie was not a co-founder of the company.)

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01-23-2012, 08:37 AM
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Quote:
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He and Laz have had automatic share disposition programs in place for several years, including during the period where rim shares were much higher.

Laz's ASDP goes back to 2007.

Balsillie's ASDP started in May of 2009. In addition to about $100M in donations he would have sold up to $260M for himself in the first program alone.

JB may no longer have the resources to be a player in an NHL deal but he will not be have to hold a yard sale to pay the rent.
Yes, that's what I was looking for. I was too lazy to search the disclosure forms required when execs put ASDPs in place.


Quote:
Originally Posted by Evil Doctor View Post
Funny how I'm not seeing much talk about concerns over Blackberry sponsorship. It looks like another Balsillie=pinata thread....
I kind of like ol' JB's spunk. I also think he knew he was blowing up some bridges when he launched that bid for the Coyotes. That was as scorched earth + seeding the ground with salt as you can get.

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To be honest I don't se why this change would in itself impact the sponsorship.
Agreed. The continued decline of the company is really the issue.

Quote:
Originally Posted by Fourier View Post
It's obvious why Balsillie gets play here, but to be honest when I think of RIM I will always think of Lazaridis first and foremost. He was the visionary and the soul of the company.
It was interesting to note that Lazaridis felt he had something better than Android. I wonder if he was wrong (and/or implementation was much more difficult) or if they're just not to that point yet. Developments of major platforms (as you know) don't happen overnight and can have all types of bugs and compatibility issues to sort out.

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01-23-2012, 08:37 AM
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JB's fall is noted here without remorse.

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01-23-2012, 08:40 AM
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JB's fall is noted here without remorse.

Enh. I'd like that kind of fall. He can retire to his favorite tropical island--- and he can afford Leafs tickets.

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01-23-2012, 09:03 AM
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JB stepping down (or being forced out) really has no impact on the NHL or a team coming to Hamilton - as he's been out of the picture for over 2 years now.

He will probably never own an NHL team, but it's hard to feel bad for him. He's still a very wealthy man. I would love to have the same problems as JB.

EDIT: at least he brought the attention of Canada getting teams back into the spotlight. Love him or hate him, I think he deserves some credit for this.

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01-23-2012, 09:11 AM
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nice knowing you Jimbo

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