RE:Minus $83.6m in cash; Plus $221m in earningsAll great points Yasch (and others), but I am a little disappointed that Chen agreed to continue having longterm debt on the books ($605 million).
I would have been much happier if Chen had of paid the $1.25 billion plus interest and not allowed Watsa to float Blackberry another loan. The interest rate is great and Blackberry will save a lot of money on interest payments, but I would have preferred Blackberry to not pay any interest payments AND to not have a lot of dilution in the future possibly (11% dilution).
Watsa is a great person to have backing any company. His loan helped Blackberry in a key time when things looked very bleak. But why is Chen continuing to borrow?