Falls into the earth. First though to sue down at the nyse. Hi, sue. Hi, ty. Pretty dramatic pictures there. Stocks, meanwhile, well off the lows of the day. Right now lets take a look at how the dow and s p are faring. Right now the Dow Jones Industrial average is off 14 points and the s p is off about 2. More markets in a minute. First though as ty mentioned blackberry. The board is looking at its options right now, and that could include a sale of blackberry. It also could mean some kind of joint venture, and it could mean some sort of a partnership. The company has been under fire for some time. Its new blackberry 10 smartphone came out with great fanfare but the reception has been lukewarm since then. Year to date the stock is down about 13 , but on those restructuring talks, the market has moved it up 7 in todays trading session. For the threemonth period its down 33 . Canadian firm Hamblin Watsa is blackberrys number one shareholder. Blackrock ranks fifth with 9 million shares.
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The business world is in a constant state of consolidation. Customers that used to have multiple options now have two or three. In many cases, the options are owned by the same company (Fido and Rogers; Tangerine and Scotiabank, Swoop and WestJet).
Consolidation increases economies of scale, meaning costs get spread over more units or customers. In wealth management, Canada has achieved scale because of the large role the banks play in all aspects of financial services. During my career, theyâve gone from being nowhere in wealth management to dominant players.
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