Tuesday, June 21, 2011

In Hamilton, the Sugar Daddy has a few financial distractions

While we imagine this is but a temporary setback towards the goal of global communication domination, Jim Balsillie's Research in Motion group, has had pretty bad week or so on the stock markets.

It's a financial twist that is probably of interest to those in Hamilton, where they watched with interest the return of Winnipeg to the NHL and perhaps are still hopeful that one day, the NHL will see fit to allow them to enter the club.

Balsillie of course, was the driving force behind the plan to bring an NHL team to Hamilton, only to have the NHL more or less declare him personna non grata, after he made numerous attempts to purchase NHL teams, from Pittsburgh to Nashville to Phoenix,  the latter two perhaps with an eye to a northern migration.

And while there was some talk earlier this month  that the NHL was perhaps ready to forgive, forget and accept Balisille into the fold, follow up commentaries suggested that the past battles between the Blackberry Baron and the NHL,  perhaps left some of the wounds did still a little sore.

Add on the developing financial news regarding the parent company of RIM Technologies, and maybe that phone won't be ringing any time soon after all.

Financial Post-- RIM tries to shake off latest doubts
Financial Post-- RIM: Where from here?
Financial Post-- RIM ripe for takeover with cheapest multiple
Globe and Mail-- RIM braces for 'the big reset'
Globe and Mail-- RIM cuts 200 jobs in Waterloo, reports say
Globe and Mail-- As stock plunges, could RIM be sold in whole or part?
Bloomberg-- Dolby Sues Research in Motion for Patent Infringement

For hockey fans in Hamilton, their future hopes will require a keen eye not only on which NHL franchises are in trouble and perhaps in play, but if the timing of it all works out with what's happening on the financial pages.

Mr. Balsillie may very well still be keen on owning a hockey club, but without the core business in a strong position, it would seem that the Copps Coliseum won't be needing an upgrade in the immediate future.

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