Palm losing money hand over fist

PALM HAS revised projections downwards and said it is losing money as the company again paid a high price for failure to get product out of the doors on time.

Singing a familiar song, CEO Ed Colligan said a part of the problem this time was that Palm failed to certify a product it had scheduled for Q4. Warranty costs and shrinking margins were also cited. Palm’s stock reflects recent woes such as the Foleo snafu, with share price bumping along near the year low point. Not good. Not good at all.

Everyone loves Palm. It is a great modern innovator that came up with a product that was insanely great in its day. But if you were on death row you’d want it to be responsible for execution. Of course, it hasn’t helped that the BlackBerry and Iphone have been
smasheroonies.

Ironically, the announcement was preceded by a Morgan Keegan note saying Palm was outperforming Windows Mobile rivals. µ