A Dollar Too Much

Iain Marlow, reporting for The Globe and Mail:

Research In Motion Ltd.’s top executives cut their salaries to $1 as they delivered yet more dismal news to investors, telling the world the product that was supposed to save the company will come out almost a year later than promised.

The news that a new line of BlackBerrys with an upgraded operating system won’t be released until late 2012, combined with a weak outlook for the company’s fourth quarter, pounded RIM shares in after-hours trading. The stock fell more than 7 per cent to about $14 (U.S.).

★ Thursday, 15 December 2011