15 Quotes by Susan Kalla

Many, many companies have failed, competing with or selling to the Bells.

Nobody wants to get their head chopped off. John Chambers doesn't know the future. There are huge penalties for saying things are getting better and then not delivering so even if he saw that things were up, he likely wouldn't say it.

Judge Roberts moved NTP and Research in Motion closer to a settlement, and that's what investors were hoping for all along. NTP thinks past and future royalties may be as much as $1 billion, but our view is they could provide a discount to get the deal done, get the cash up front, and avoid a reexamination of the patents.

The problem is they all have the same issue: lack of spending.

The PDA market is evolving into a phone market.

We believe Bell-Cable competition will unfold like the Vietnam War, with many battles stretching over a long period of time. It will be a war of attrition, where the player with the greatest cash flow to fund its arsenal wins.

The deal does have quite a lot yellow flags planted around it. The numbers show they paid a hefty premium, and they are not going to be able to recover it over the next two years.

While it is conceivable that Stern would sell some shares to cover his multimillion dollar tax bill on the shares, it is unlikely in our opinion that he would unload all of the shares in the short run since the company is in a high growth phase where stock returns are likely to be the highest and perhaps may generate higher returns than other investment options.

As far as technological innovation they are ahead of the Bells. Whether they can leverage the technology to put them on an even position with the Bells -- it's possible but not probable.