Jim Balsillie MBA,FCA.and RIM

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Jim Balsillie MBA,FCA.and RIM

Postby Pondero » April 1st, 2012, 10:46 am

I think I have got his credentials right. Mr.Balsillie, is one who gives hope for success to young people of modest means.Son of an electrician, born in 1961 in Peterborough, he earned. A Bachelor of Commerce degree from, the University of Toronto, became a Chartered Accountant and obtained an MBA from Harvard.
Twenty years ago while being chief financial officer in a small tech company in Kitchener he mortgaged his house to invest $250,000 in a fledgling company an 8 year old company called Research and Motion. He quit his job to take his financial expertise there, and join Mr.Lazardis, a 23 year-old university drop out with big ideas and no business experience. Thanks to blackberry both were billionaires by 2005.
Mr.Balsillie has been very generous with his money giving millions away to science and research.At 51 he has resigned.

My point is that it is still possible to become a billionaire in Canada starting with nothing.
Let nothing disturb you.
Let nothing make you afraid.
All things are passing.
God alone never changes.
Patience gains all things.
If you have God you will want for nothing.
God alone suffices.

— St. Teresa, The bookmark of Teresa of Ávila, [28]
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Re: Jim Balsillie MBA,FCA.and RIM

Postby sarniajoy » April 1st, 2012, 1:14 pm

Is being a billionaire a good thing?
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Re: Jim Balsillie MBA,FCA.and RIM

Postby Pondero » April 1st, 2012, 1:55 pm

Sarniajoy wrote:Is being a billionaire a good thing?

It is if one uses one's money wisely, and Mr.Balsillie has earned his money in BlackBerry, which co-incidentally started at the same time Mr.Jobs started Apple.I haven't heard how the late Mr.Jobs spent his money. I believe that Mr.Balsillie was an easier man to work with.
Mr.Lazaridis and Doug Fregin are the technical geniuses behind the BlackBerry.Mr.Lazaridis resigned too to give free rein to Mr.Heins who hopefully will put the company back on its feet.
To answer your question: the money came from exports mainly, we don't have the population here.It could have gone to the government in the form of taxation or to the workers.
I didn't hear any workers complaining about 'low' salaries . Or layoffs until quite recently.
Both Mr.Balsillie and Mr.Lazaridis "..became generous philanthropists, establishing research facilities and think-tanks to which they continue to contribute millions of dollars of their own money." (Tedesco,National Post, Saturday March 31,2012).
Let nothing disturb you.
Let nothing make you afraid.
All things are passing.
God alone never changes.
Patience gains all things.
If you have God you will want for nothing.
God alone suffices.

— St. Teresa, The bookmark of Teresa of Ávila, [28]
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Re: Jim Balsillie MBA,FCA.and RIM

Postby Sweet Peace » April 1st, 2012, 11:25 pm

It doesn't matter how much he gives away, the fact that he keeps a billion for himself proves greed to my mind.
Where sin abounded, grace did much more abound.
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Re: Jim Balsillie MBA,FCA.and RIM

Postby Pondero » April 1st, 2012, 11:52 pm

Sweet Peace wrote:It doesn't matter how much he gives away, the fact that he keeps a billion for himself proves greed to my mind.

According to one report he is not worth a billion, but 800 million at the moment.
It proves greed if he overindulges like princes of old. I don't think he does that.As I said earlier he gives away millions. He went to Trinity College,University of Toronto, which was founded by Anglicans for future clergy.Of course it is more secular now.He is not Catholic to my knowledge.
The former owner of Dominos Pizza, a multi millionaire, who had a large garage full of expensive cars, was converted to Catholicism and got rid if them, lives a relatively simple life without joining a monastery.He sold the company.The Price Club, now called Costco, a multimillionaire,owned it called Sol Price, he lived a simple life.And I read he helped local people out financially, such as one waitress in a local restaurant, as described in a book I read by Vance Packard.

The mayor of Toronto ( I don't know what he is worth, but he has shares in family business with a branch plant in Chicago, lives in a small bungalow with a small untidy front garden only 800 meters away.)
I don't think it is greed to possess much money, if you live a simple life.

Even a monk has a beautiful church to pray in. And in case the life of the Pope is mentioned. I think he works hard at an age when most men are retired, and although surrounded by beauty in architecture Benedict XVI, does not over indulge in eating, drinking or in entertaining himself, as I do.
Let nothing disturb you.
Let nothing make you afraid.
All things are passing.
God alone never changes.
Patience gains all things.
If you have God you will want for nothing.
God alone suffices.

— St. Teresa, The bookmark of Teresa of Ávila, [28]
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Re: Jim Balsillie MBA,FCA.and RIM

Postby Sweet Peace » April 2nd, 2012, 10:48 am

Possessing hoards of money is depriving someone else of it - plain and simple greed.
Where sin abounded, grace did much more abound.
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Re: Jim Balsillie MBA,FCA.and RIM

Postby Pondero » April 2nd, 2012, 2:07 pm

Sweet Peace wrote:Possessing hoards of money is depriving someone else of it - plain and simple greed.

Now, I agree that it is wrong to do that.I would like to see everyone get a decent pension and a comfortable place to live in - and if this means more taxation of the rich in order to eliminate poverty here, I am all for it.
EDIT.
Those who are deprived of it never earned it.Those in the RIM op.designed new technology and increased wealth in the world taking nothing from anyone. No-one was robbed in the process. Those who bought BlackBerry phones did so and still do so because it is the best product for them.Their money would otherwise be invested in inferior,less efficient products or on entertainment.
Let nothing disturb you.
Let nothing make you afraid.
All things are passing.
God alone never changes.
Patience gains all things.
If you have God you will want for nothing.
God alone suffices.

— St. Teresa, The bookmark of Teresa of Ávila, [28]
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