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Guilt By Association... Sbarro, JetBlue and Palm?

Thu Oct 23, 2008 - 9:13 AM EDT - By Annie Latham

Just when things were going well (i.e. the Treo Pro garnering great reviews. The Centro gaining market share, etc.), comes some financial guy to throw cold water in your face. And in this economy, it seems like we are experiencing a steady drenching of cold water.

So here is what happened. On Tuesday, Palm got itself included in a list of 140 U.S. companies that Standard & Poor's says are in danger of not being able to pay their bills in the next few months. Swell! Per the story posted at the Time.com site, among the troubled firms on the agency's list are such household names as clothing retailer Eddie Bauer, amusement park operator Six Flags and pizza chain Sbarro, doughnut baker Krispy Kreme and mobile technology titan Palm, as well as a number of the nation's largest airlines, including JetBlue and the corporate parents of United and American. Per Sam Rovit of Bain Corporate Renewal, "We are seeing companies across a wide variety of sectors that are struggling." Mr. Rovit also stated that he expects a "tidal wave of bankruptcies among large companies."

Humm... It seems like Mr. Rovit missed what Palm's CEO, Ed Colligan, communicated during the earnings call last month - that is, that "Palm's cash position was fortunately still sound and will allow them to navigate this period while still positioning Palm for a timely launch of future products. After that, they look forward to delivering consistent and growing revenue, profits and cash flow."

So who do you believe?

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