Was the Palm split real? Or was it all a sham?
As I predicted a while ago, the endgame has now started. PalmSource is about to get gutted and then implode. I feel the original "split" of Palm was a sham designed to milk investors of tens of millions of dollars before the platform was due to collapse.
Evidence:
- The "split" wrote off millions in loans
- Tens of millions more were then generated with the overpriced IPO stock. Prices have subsequently plummeted, but investors paid the price
- The Palm name buyout basically burns up more (almost $30,000,000!) of investors' money by shuffling it back to PalmSource
- Looking at PalmSource's business plan, it seemed obvious from the start that they would never really be profitable as an independent company
- Since PalmSource was doomed to go bankrupt (within a year at current burn rates) it was only a matter of time before Palm/pa1mOne would be able to swoop in and buy back PalmSource for pennies on the dollar.
This is my theory and I can't prove it, but everything is already playing out EXACTLY as I said it would when the "split" was originally approved. Anyone willing to bet against me on the conclusion of the final act in this (investors') tragedy?
TVoR
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