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Well Blackberry is making news again with Jim Balsillie taking a step down, while the company restates its financial statements as far back as 3 years ago. Yahoo has the scoop on that one. Read about RIM’s current financial worries and Basillie jumping ship here
What should be noted is that while Jim Balsillie is stepping down, Co-chief executive Mike Lazaridis also had a role in the findings of the internal audit which spans more than a decade. Read about the RIM special committee that reviewed over 3,00 back dated stockk option grants between December 1996 and August 2006.
After it’s all said and done we’re looking at a possible $250 million reduction in previous earnings – ouch.