Sale Of Mobile Device Maker Could Mean Millions For Bono

bono 102009 Sale Of Mobile Device Maker Could Mean Millions For BonoMobile device maker Palm has reportedly put itself up for sale, a move that could mean a lot of money for [lastfm]U2[/lastfm] frontman [lastfm]Bono[/lastfm].

The singer’s Elevation Partners investment vehicle owns a 41 percent stake in the company. Last week, a key Palm executive quit and the maker of the Pre mobile device implemented a series of bonuses to keep other important personnel.

Wall Street has viewed this as an attempt on the company’s part to prepare for a sale, after its last profit statement led many to believe the firm might struggle to survive.

Despite U2’s reputation as one of the more media and business savvy bands in the industry, Bono has not had much luck with his recent investments. 24/7 Wall Street has called the Irish rocker the “Worst Investor In America,” with Elevation Partners losing significant money in investments like Palm.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From 104.1 Jack FM

Get The App
JACK's Crush Archive
JACK's Inside Track

Listen Live