RIM selling its corporate jet

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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.



  • http://crankygeek.com Jack Brewster

    And they’re only selling one?

  • Lspivack

    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)

  • swotam

    I wonder if they get all liquored up and need to be restrained with tie wraps on their private jet as well?

  • http://www.johncblandii.com John C. Bland II

    Oh wow, that’s ridiculous. Yeah…RIM can’t be defended now. That’s crazy!

  • Pacomius

    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.

  • http://www.veganswithtypewriters.com/ Phae Deepsky

    Don’t forget that RIM is a Canadian company, so “corporate jet” is just marketing-speak for “Twin Otter”.