Rubinstein to lead Palm unit, HP deal to close first week of July | webOS Nation
 
 

Rubinstein to lead Palm unit, HP deal to close first week of July 56

by Dieter Bohn Fri, 25 Jun 2010 3:23 pm EDT

 

Today, Palm held their Shareholder meeting to approve the pending 'merger' with HP. Jakerome in our forums went there this morning and offers the following notes based on a conversation with Teri Klein, VP of Investor Relations at Palm:

  • Jon Rubinstein will lead the smartphone/mobility unit (whatever it will be called), which will absorb another HP unit.
  • The deal is expected to close the first week of July
  • The training for the AT&T launch went better than it did for the Verizon launch.

Jake also reports that Klein was especially enthusiastic about great things that are coming. If anybody else attended the meeting, please let us know what you've learned!

[article updated with more information from sbono13 to reflect the more general nature of the comments.]

Source: PreCentral Forums. Thanks, Jake!

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56 Comments

Yay for new hardware and webOS 2.0!!!

I didn't attend the meeting but a 2 little birdies the first being from Sprint told me when I asked why we don't have the Pre+ he said Palm/HP has something coming in the 3rd quarter...of course even though i'm friends with the bird, I know how Sprint brainwashes their employees so everything that comes out of their mouth is BS but I just happen to run into a Palm Rep and he also said new device 3rd quarter, THIS YEAR! Snap that all you sell outs! Ha!

Wow, this is closing crazy fast and crazy smooth. Looks good for four possibilities:

1) Might be indicative that HP and Palm are already collaberating and that could like accelerate the announcement annd release of new hardware and updating to o/s.

2) HP continues to acquire related businesses, several of which represent cutting edge and breakthrough tech for the mobile market.

3) Rubi having an offical role beyond first week of July. Bit of a surprise, but with HP backing and oversight, I feel better about that.

4) Somewhat likely that Palm, Rubi and HP have reviewed personnel and already have started shaping the ranks with key additions and recent departures.

I sense some very positive momentum and a real presence of a long term plan. Next two weeks should be pretty interesting.

Where is that buzzard troll Catcarcass?

The prizes for the PDK Hot Apps shows that HP and Palm are already collaborating well.

Sweet, we don't have to wait till July 31!

Awesome News!!!

Palm + iPAQ. Just think of the possibilities.

I just threw up a little in my mouth.

Sweet, we don't have to wait till July 31!

the beginning of a new chapter...
I am excited. Webos will live on and improve with the years to come. The possibilities are endless.
patience.... I am perfectly fine with my pre for now. Take the time to refine designs and do it right this time.

Giddy up! Let it rain! How about leaking some hardware information after the closing of the deal.

great news! In desperate need of new hardware.

Good news on the acquisition completing sooner and about retaining Ruby. Was it approved? Also good news on the ATT launch doing better than the Verizon launch.

Hopefully we can get some solid new product direction in July!! The silence during the quiet period has been tough... Palm doesn't usually talk much about future plans but they've been talking even less than usual!

"Sweet, we don't have to wait till July 31!"

For... what exactly. The merger to be finished?

I'd say yes for the merger to finish, but more importantly the subsequent announcement of new phone(s) and webOS based tablet(s). *Fingers croseed*

THERE IS NO MERGER!

I am soooo freaking happy. This is the best news EVER. Now if I could win the lottery! LOL This is more realistic. : )

CARROT TIME!!!

By 2nd week in July I hope!

I know this is good to finally see in writing, but I don't see anything here that we didn't know already nor that screams omg.

Actually, the close date being July 1 is huge news and very different from what we've previously heard.

Many believe there are new products that can't be announces until after the merger is complete. They are not able to talk about it right now.

If that is true, I am ok with that as it give me a year since I bought the pre and get the Sprint discount.

I just want to know the hardware for the new phone.

i just got a VZ pre+ and it is my very first smartphone so I am excited about the fruits of this merger.

but given the stated poor launch performance on VZ and how VZ is already smitten with Android i just hope hp/palm will be able to break thru to VZ and also convince them to double down on WebOS and not go all in on Android...

This is the news I was looking for!!! I just returned my EVO just 1 hour ago, and reactivated my Pre. I get back to my computer and BAM!!! What great news, first week of July. Finally we will see the new devices!!! The WebOS is like an addiction. I could not get passed the Android OS it felt like it was hacked together.

This is awesome! Almost a month sooner & a very good sign things are going well behind the scenes! The fact HP is buying other companies to work with webOS is a VERY good sign! (Melodeo)

IBIWISI!

I'll Believe It When I See It!

Go HP.

Here's hoping great things are in the offing. Im migrating to Android for a while, but I'll be watching Palm to see how their hardware quality shapes up. I wouldn't mind having a WebOS tablet.

Interesting to see how this article was edited from:

"Jake also reports that Klein was especially enthusiastic about WebOS 2.0 and new hardware that is coming."

to:

"Jake also reports that Klein was especially enthusiastic about great things that are coming."

sbono13 in the forums provided more context, see here

This is awesome! Almost a month sooner & a very good sign things are going well behind the scenes! The fact HP is buying other companies to work with webOS is a VERY good sign! (Melodeo)

GREAT NEWS!!! I love the comment about the EVO-sellouts! I thought about it but love webOS so I decided to wait it out. Glad I did!

Any news on % in favor and % against?

wow quicker then I thought... But they still have to stay quiet until the merger and wait for the iphone hype to cool down a little otherwise a hardware announcement will be a side note like how Farah Faucet was not mentioned dying because Michael Jackson died the same day.... Farah to me may of been a better person to Jacko but Jacko was a media giant...

same could be said for Palm and Apple... So we have to wait a little for the Apple buzz to dwindle a little..

what I find interesting is HP must really really be excited about Palms direction if they are going to have Palm ABSORB a part of HP.... In a merger shouldn't it usually go the other way... HP absorbing Palm... So there is some good signs of good things...

THERE IS NO MERGER!

As a Palm shareholder who received notice and proxy voting materials, I can tell you that it was referred to as a 'merger'. Now we all know that in reality it was a buyout, but the legal-ease stated 'merger'.

t

Then, they are misrepresenting themselves, and may be subject to legal action for their legal-ease. Let's be clear: Palm is a discount item that was purchased in a fire sale. In no universe can this be considered a merger. That is just denial and misrepresentation.

Thank you iJudge Judy.

Get a law dictionary! From a legal standpoint a merger is when one corporation "swallows" another. Your probably thinking of a "consolidation" which is when two corporations join to form a new corporation. At any rate you are trying to apply far too fine of a meaning to the word "merger".

*Note, merger also has some additional meanings when applied to Real Estate, Criminal Law, and Litigation and piossibly others. I have limited my quotes below to application in corporate law.

________________________________
from http://research.lawyers.com/glossary/merger.html

Merger
Definition - Noun
...
6 a : the act or process of merging
b : absorption by one corporation of another
also
: any of various methods of combining two or more organizations (as business concerns)

________________________________
from http://www.yourdictionary.com/law/merger

Merger, n
...
5. In corporate law, the acquisition of one company by another, and their combination into a single legal entity.

It looks like they may be walking a fine, legal line. It may not be a legal misrepresentation, (the attorneys will have to figure that out), but it is still dishonest. HP and Palm are merging in the same way I merged with a turkey sandwich around lunch time.

Lets hope they don't 'unmerge' in much the same way as that turkey sandwich will later this evening.

I believe you are citing the case of AOL/Time Warner merger. AOL ate Time Warner, and Time Warner returned the favor by processing AOL into an organic fertilizer and left them in a grassy field in a pile.

Acept that the end result of that turkey sandwich will be, well, unmentionable. There will be a Palm division within HP sounds like.

So, not EXACTLY like your ill fated turkey sandwich.

I believe you may be mistaking "merger" (as accurately described above) with the more specific term, "merger of equals."

It's not even unheard of for the smaller company to become the "surviving entity" that comes out of an unequal merger like this, where, say, "GoliathCorp" takes over "David & Sons," but adopts the "little guy's" name for the new combined company - especially when they have a "better" name in the marketplace.

Oh Snap :)

I hoping the timing works out just right, and even though the Evo stole some Pre users, Pre2 can steal back the Hero and Moment users. I'm expecting a late July or early August launch which would pit them up against the aftermath of Droid X, droid2, and white iPhone 4; all of which seem to be manageable competition as long as the phone is filled with modern specs.

Unless these Android phones present some over-the-top technology, I think people are about numb to Android/Droid/HTC whatever phones -

Especially if it has:
-"droid" in the name
- a big screen
- looks like a big black shiny mirror
- OLED
- Snapdragon
- Front facing camera

All these phones sound alike to me and everyone else.
A white iPhone 4 will only attract Apple people and anyone else who would have bought an iPhone anyways.

The market is STARVING for something intuitive/easy-to-use that is not Apple brand.

The market shows people are far from numb to Android/Droid/HTC. If Palm gives people what's been asked for over and over (on this site for example), the specs you seem to dismiss above will be pretty much what you get in the next Palm device (though the Pre already has a shiny mirror).

Trying to downplay the competition is a futile act. The competition does not need to be downplayed, Palm simply needs to step up and give the people what they've been asking for (starting with better hardware and a richer API).

Is HP really surprising us all in a positive way...it certainly looks that way...fingers crossed.

Have you all seen this?

http://www.fool.com/investing/high-growth/2010/06/25/hps-senior-exec-sen...

"This message goes out to all fans of Web OS. Stop worrying and speculating. When the deal closes I'm sure you'll hear about lots of great things from HP, until then just know this... We all absolutely love it, we love using Web OS. It's simply fantastic. Instead of worrying you should think about developing Apps on it as soon as possible."

It didn't click for me until now that maybe what "We all absolutely love it" might be suggesting is that some (key?) employees were handed the next WebOS 2(?) Hardware.

Although I like the Pre Plus, "we all absolutely love it" just sounds like it's referring to something more spectacular than what we have in our hands right now. Just saying.

That is music to my ears! In the mean time anybody in the know hear anything about webOS 1.4.5 lately?

Sidenote: I wonder if Adobe 10.1 is coming with 1.4.5 or will we have to wait until 2.0 in the fall? I know Android gets there's with Froyo, just a thought...

As I understand it there are some linux changes required by Adobe for flash 10. These were done several releases ago for the Pre and just were added to Android 2.2 (Froyo).

Whether Palm hold on to flash for 1.4.5 or just release it when they're ready is anyone's guess.

According to the 8-K filed today, the deal will close on Wed. 7/1/10. Can't be soon enough for me.

ITEM 8.01 Other Events.

At a special stockholder meeting held June 25, 2010, the stockholders of Palm, Inc. (

Can we say new hardware!!

Yes we can. Can Palm? I hope so. :-)