Mad Mail: Accounting Problems at RIMM?
Cramer: Yesterday, you talked about Research In Motion's valuation versus Nokia and Motorola, so as a happy "CrackBerry" addict I decided to look closer at RIMM. I started to read through their SEC filing when I came across this nugget regarding their ongoing restatement of past financial statements: "The Company has faced challenges in hiring and retaining qualified personnel due to the Restatement, the investigations relating to the Company and potential tax consequences to employees who received grants of stock options with incorrect accounting measurement dates." This definitely scares me away from RIMM. Is it as bad as it sounds? --Louis
Cramer says: “Any accounting irregularity’s bad. But I think it’s behind them, and I think we’re fine.” Apple, a key RIMM competitor now, cannot be owned due to Steve Jobs’ health.
Dear Jim: You recommended Energy Transfer Partners a while back due to its high yield. With all the swings in energy prices lately, do you still feel the dividend is safe and that this is still a good stock to hold? Thank you for all your help and education. --Bob
Cramer says: “I said Kinder Morgan Partners, and then secondarily Energy Transfer Partners, are my two favorite. They are a function of volume, not a function of gas price, which is going down big.”
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