Monday, April 12, 2010, PM | 4 Comments
Palm is up for sale. That’s the news Bloomberg is reporting. The last couple of years, Palm had collected dirt on both of its palms and now it’s trying to wash them.
The old adage: “Money comes and goes.” There is a saying in my mother tongue: “Money is the dirt on your palms till you wash it off.” And that’s what Palm is reportedly doing.
There was a time before the Internet big bang when there was only Palm and nothing much else in its neighborhood, no smart phone of any kind whatsoever.
Dell among others looked at Palm’s palms but it decided to not bury itself in the dirt. According to Bloomberg, the company has hired Goldman Sachs [Sachs is likely to report blowout profits] and the Frank Quattrone-founded investment firm Qatalyst Partners to find a buyer. [Remember Frank was prosecuted for interfering with a government probe into Credit Suisse First Boston’s behavior in allocating “hot” IPOs.]
Moral of the story
Another old adage: What goes up must come down.” Lately Palm was hanging by a thread and upside down. I am not too familiar with its device but at one time, I heard some good things about it. It was not too successful after some competition arose in the form of Apple’s gadgets on the horizon.
What do you think?Facebook.com/doable.finance