Research In Motion Ltd. (RIMM), which has lost 95 percent of its market value since 2008, is selling one of its two business jets under a plan to save $1 billion in operating costs, two people with knowledge of the matter said.
Wait a minute. You’re telling me that while thousands of employees lost their jobs, market share tanked and the stock price plummeted, executives kept a corporate jet? Yep, everything is just fine at RIM.
And they’re only selling one?
With the way RIM employees behave on commercial airlines, a private jet is important! (http://www.nytimes.com/2011/12/02/business/research-in-motion-employees-fined-for-disruption-on-plane.html)
I wonder if they get all liquored up and need to be restrained with tie wraps on their private jet as well?
Oh wow, that’s ridiculous. Yeah…RIM can’t be defended now. That’s crazy!
And they are only selling the smaller of the two at that.
If I was crazy enough to be a RIM shareholder, I would be tearing them a new one.
Don’t forget that RIM is a Canadian company, so “corporate jet” is just marketing-speak for “Twin Otter”.