- Vet suicides ‘horrible human cost’ of VA dysfunction: lawmaker
- First marijuana customer in Spokane says he was fired
- Hagel: ‘Make no mistake,’ ISIL is an ‘imminent’ threat to U.S.
- Armed militia sets up Texas command center to ‘fight for national sovereignty’
- Coburn calls hiring of embattled background check firm ‘troubling’
- World Cup: It’s raining men in Brazil as women samba with visitors
- Sgt. Bowe Bergdahl captured in photo smiling with Taliban jihadist
- Germany demands ouster of U.S. spy chief
- GOP senators knock EPA power grab
- ‘Game of Thrones’ earns a leading 19 Emmy nods
RIM investor Watsa doubles stake
Question of the Day
NEW YORK (AP) - Prem Watsa, one of Canada’s best-known value investors, has nearly doubled his stake in BlackBerry maker Research In Motion Ltd. to 9.9 percent, according to a regulatory filing Monday.
The increase makes him the largest shareholder in the struggling company and identifies a buyer for shares that other investors have been unloading.
RIM shares rose 1 cent to $6.78 in midday trading Monday. The shares have lost 95 percent of their value since 2008 as BlackBerry sales have lost out to the iPhone and Android phones.
RIM’s market capitalization is now $3.6 billion. Analysts have figured that the company’s patent holdings, and the value of the monthly subscription fees that it gets from servicing existing BlackBerrys, are worth more than that to a buyer.
Watsa told the Associated Press in April that he believes RIM can turn itself around, but that it might take three to five years to do so. He’s the founder of insurance company Fairfax Financial Holdings Ltd. and has a seat on RIM’s board.
The increase to 9.9 percent vaulted his holdings past those of investment management company Primecap and RIM founder and former co-CEO Michael Lazaridis.
TWT Video Picks
By Ted Cruz
Banning speech with a constitutional amendment is playing with fire
- GOP: Lerner warned IRS employees to hide information from Congress
- White House plans for bowling alley upgrades abruptly canceled
- IRS employee suspended for pro-Obama activities
- HUSAIN: The fake caliph of 'The Islamic State'
- HUSAR: Mexicos Pena Nieto passes the immigration bucket
- Va. Democrat reportedly seeks nude shots of Kendall Jones
- Harry Reid lambasted by black conservatives after calling Justice Thomas white
- EDITORIAL: Whats Obama hiding at illegal-alien 'refugee' camps?
- ISTOOK: Flying illegals home would be 99.5 percent cheaper than Obamas plan
- 4 children, parents killed in Texas shooting
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq
World Cup's sexiest WAGs
U.S.-Ghana World Cup opener