Motorola Coming Apart at the Seams, Splits in Two
With less than a week until several expected handeset announcements may take place at CTIA in Las Vegas, Motorola has just today disclosed that it will be splitting into two public companies. In the wake of a plummeting stock price and pressure from Carl C. Icahn, Motorola will soon separate its mobile phone division from the rest of its dealings. Motorola’s cellphone business was bustling not very long ago but it has since become an anchor that simply won’t seem to budge. Motorola’s CEO Gregory Brown’s attempt to put a positive spin on the announcement:
“Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus - as well as more targeted investment opportunities for our shareholders.”
Motorola stock took a 45% dive in 2007 and has shown no signs of improvement to date in 2008. As Motorola’s cellphone business continues to lose market share and Icahn, 6.3% owner of the company, has not been subtle in his distaste for the situation. If Motorola decides to grant him the four seats that he is currently seeking on the board, would love to be a fly on the wall of one of those pow wows…
come on BGR, learn to spell~ its splits.. not spilts.
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Looks like you could take a grammar refresher yourself, Matt.
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Sorry there was a simple spelling error in one of our posts, Matt. I hope you can find it in your heart to forgive us.
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you are forgiven lol.. just thought id help my favorite site stay on its toes
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wow i bet i could make a post with less mistakes in word i use the F7 key
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I’m projecting a marginal loss in Motorola’s life in the next few months…
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no surprize here…moto phones have been sucking wind the past few years…started with the introduction of the V60 series and has not improved since. motorola is like the general motors of cellphones…every now and then you get a good one, takes a decent beating, but not very reliable on the long term
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