Why don't public companies ever just give up and cash out the stockholders?
It can't imagine what it must feel like to go to work at Blackberry every day just so you can destroy a little more value :/
It can't imagine what it must feel like to go to work at Blackberry every day just so you can destroy a little more value :/
I suppose there are a limited number of examples of big companies with declining market share that successfully turn the ship around, but a few notable examples come to mind. Shareholders can always sell if they don't want to go along for the ride.
They do still seem to employ 5000+ in Finland according to their website. And probably left quite some cash in Finland in the company's hey day when global investors got into the stock.
Why don't Cisco just "give up"?
In addition I'd assume the major shareholders in Nokia & BB have had sight of and a say in the plans to try turn things around. And they think that it's a better bet than simply turning off the lights and distributing whatever cash those companies have on hand.
The pulp mill site looks like this today: http://tinyurl.com/nokianvirta
I worked in a Nokia R&D house that was built in Espoo in 1975; it had been constructed with a 10 tons per square meter load rating in three floors so that "if this silly electronics thing doesn't take off, we can always bring in the cable machines."
The name Nokia comes from the name of the river, which in turn supposedly comes from a reference to "noki" (soot) as it is a pre-historic trading site of black skins of fur.
They stated in wood pulp. Rubber came some 30 years later.