{"id":534749,"date":"2010-04-19T14:16:00","date_gmt":"2010-04-19T18:16:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:425374"},"modified":"2010-04-19T14:16:00","modified_gmt":"2010-04-19T18:16:00","slug":"palm-departures-suggest-deal-not-pending","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/534749","title":{"rendered":"Palm departures suggest deal not pending"},"content":{"rendered":"<p>The timing of the departure of <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=PALM&amp;id=8155357\" >Palm Inc.<\/a>\u2019s senior vice president of Software &amp; Services, Michael Abbott, likely indicates that an acquisition is not pending, according to UBS. Mr. Abbott led development of the smartphone maker\u2019s WebOS application platform and services.<\/p>\n<p>\u201cWe believe any potential acquirer would likely want (and need) the WebOS development team, UBS analyst Maynard Um told clients.<\/p>\n<p>Palm was <a href=\"http:\/\/www.financialpost.com\/markets\/company\/news\/story.html?news=142061849&amp;symbol=PALM&amp;id=8155357\" >also downgraded<\/a> to underperform at Morgan Keegan.<\/p>\n<p>The company implemented a retention program for certain key employees, including CFO Doug Jeffries and five senior vice presidents. Palm issued 1.15 million restricted shares and US$250,000 cash bonuses to Mr. Jeffries and senior vice president of Global Operations Jeff Devine.<\/p>\n<p>\u201cWe note that many companies will likely take a look at Palm (no downside to examining a competitor), though we believe interest is likely to be tepid at current levels,\u201d Mr. Um said in a research note. \u201cWith customer discussions likely now focused more on Palm\u2019s future rather than its products, we see potential rising risk of WebOS product de-emphasis.\u201d<\/p>\n<p>UBS continues to rate Palm at Sell with a US$4 price target. <\/p>\n<p><a href=\"mailto:jratner@nationalpost.com\">Jonathan Ratner<\/a> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=425374\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The timing of the departure of Palm Inc.\u2019s senior vice president of Software &amp; Services, Michael Abbott, likely indicates that an acquisition is not pending, according to UBS. Mr. Abbott led development of the smartphone maker\u2019s WebOS application platform and services. \u201cWe believe any potential acquirer would likely want (and need) the WebOS development team, [&hellip;]<\/p>\n","protected":false},"author":4059,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-534749","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/534749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4059"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=534749"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/534749\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=534749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=534749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=534749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}