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Vic Alboini, chairman and CEO of Jaguar Financial, on the investors he has that are calling for action at Research in Motion.
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And He has the support of 8% of shareholders and He says it's time for the rim co CEOs to hit the road joining us now from Toronto.
Is that California he's chairman and CEO at -- or financial He -- thank you for joining us.
Good to be here thank you okay I I I hear that you say that you have about 8% of shareholders who were supporting -- What does that mean can you tell me who these people are and how do you quantify that it's 8%.
Institutional shareholders when they get involved in -- catalytic action they really like to turn to something like -- to.
Basically.
Carry the flag for them and they're very very reluctant to disclose who they are and how much stay on at this point in time what I will say though is that.
Our first step is negotiation we will approach state.
-- more to see whether or not we can dovetail with -- Special committee process that that put in place on June 30 talk -- governments.
If that does not work out and if the support of shareholders decide to go to a formal step.
Obviously at that point their names and their shareholdings would be disclosed.
OK so can I assume you have not yet approached the company.
That is correct are we anticipate approaching a company next week or the week after next week or the week after and do you think they'll meet with you will Jim -- -- and Michael as a reading say sure that come on -- I mean you've been a very loud agitator about this.
Absolutely not we we do not intend to -- management.
I happen to know five of the seven independent directors to -- I had to come I know reasonably well.
And I would expect that at the very least that would have a conversation with some.
Whether they will allow us in the door remains to be seen even if they allow us in the door you know it's a question of both of us needing to be reasonable and flexible I hope that that takes place if it doesn't.
We go back and regroup with our shareholders and decide whether there's a formal step.
Can you say what your direct holdings of Blackberry.
Don't have that many shares.
I.
I will say our total portfolio was twelve million so we would be one of the smaller institutional shareholders they're about a thousand institutional investors.
But our role is not just to be an investor our role is to be a catalyst we jump into these situations that are.
Either undervalued or underperforming and a situation where we think we can cause change what -- Question if -- 8%.
Shareholders aligned in what you say why not file a thirteen.
SEC and make this official.
You know that's a good question what we have this we have twelve institutional shareholders that hold an aggregate of 8%.
Now what's important as we mentioned our press release is that there's no formal agreements.
Among any of the support of shareholders they can drop off at any time.
They can buy or sell stock up and hold their stock they can vote.
You know if the vote ever came up where they cannot vote it so it's very informal at that stage at this stage and the reason for that is step one is negotiation what do you want.
If you're gonna go in there and pick -- and negotiate you want those guys out of the top do you want to chop up the company and and should it be sold for example and to -- OK a bunch of questions first of all we have to eliminate the management dominance there is no public company.
Anywhere that I'm aware of that has to co CEOs that are also co chairs in fact for a four year period from 06 to 09.
There was no chairman of the board at all.
So we wanna correct that by appointing a chairman who was an independent director hot and we think that -- that we think the time has come for the builders to set aside -- into a higher.
Well Eric Schmidt if you wanted to leave Google Sanjay Buffy wanted to leave Motorola would be great capex.
If they're at all interested you know as to who we sell to you know I think -- be a host of interested parties that would look at this Microsoft.
Apple Google or debt -- -- the giants with mobile platforms but there are others SEP Oracle Cisco.
Amazon.
There a number of Samsung HTC there there would be a number of companies I believe would have.
Meaningful discussions with -- as to the advisability -- -- doing a transaction in addition to that.
I think the board through the independent directors.
Should examine the prospect of splitting the company into three a device company much like -- of Motorola did that led to the Google Trends.
What clearly it's it's been poorly managed I would never argue with that because they have they have seventeen million subscribers this was a gold -- they -- -- -- 2000.
The stock was triple digits and it's just been -- -- in fact in February it was in the sixties and today it's in the twenty's the playbook one quick one on the -- before we go.
Is this thing gonna be capsules.
When you see -- in other -- -- well -- I can't really sir Hewlett-Packard should explain it it's but tablet.
It's very possible and I think that's a very key question because -- has to focus on what it does best.
And that is the enterprise sector it has to really take a hard look as to whether or not it wants to compete with apple on the consumer side.
And you know it may be that the play book should meet its demise but that is for smarter minds than me but it should be very carefully looked no question.
Well -- thank you very much of it we're watching this closely it's a next week are telling us here on Fox Business -- approach certain board members we'd love to have you back to hear what they say.
OK very good thank you revenue -- -- -- He is chairman and CEO what jaguar financial crap crap -- trouble.
For risk management certainly but he's.
