Blackberry for the day

Laura Stampler has a Time article about Blackberry, which refuses to die, already:

BlackBerry is abandoning its sale process, and will replace its chief executive.
Fairfax, BlackBerry's largest shareholder, with a ten percent stake, said it won’t buy the entire company but that it and other investors will inject a billion dollars as part of a revised investment proposal.
BlackBerry says CEO Thorsten Heins (photo) is stepping down. Fairfax head Prem Watsa will be appointed lead director of the board.
Blackberry said that it was giving up on its plan to find a buyer and replacing its top executive after a deal to sell the company to a major shareholder fell through.
The struggling handset maker’s battered shares were down another eighteen percent in pre-market trading following the news. The $4.7 billion rescue deal to sell BlackBerry to Fairfax Financial Holdings was complicated by struggles to raise financing for the sale, The Wall Street Journal reports. The company is replacing CEO Thorstein Heins with interim CEO John S. Chen, and the once-dominant player in the smartphone market is still selling a billion dollars of convertible debt to Fairfax.
“BlackBerry is an iconic brand with enormous potential— but it’s going to take time, discipline, and tough decisions to reclaim our success,” Chen said in a statement. “I look forward to leading BlackBerry in its turnaround and business model transformation for the benefit of all of its constituencies, including its customers, shareholders and employees.”

Rico says that's called whistling past the graveyard, with a billion dollars to throw away on a POS...