If CEO denies rumor, it must be true?

Every so often we see merger, takeover and failure rumors floating around. Then the CEO of the company says that the rumors are all false. Before the Wachovia collapse that happened on a Sunday, the CEO went on TV on Friday to let investors know that his bank was not in bad shape. Jim Cramer apologized for being duped.

Palm’s CEO also indirectly squashed takeover rumors by saying “We’ve said we have a plan that takes us to profitability.” However takeover rumors continued and finally Bloomberg seems to have confirmed the rumors making Palm’s stock surge.

It is sad to see Palm go and hopefully the new buyer will be someone who will continue WebOS, which is widely regarded to be the best of the smartphone Operating Systems with real multitasking, easy development and great features from ease of use to great looks.

I’m keeping my fingers crossed that it is HTC and they will put WebOS on something like Evo hardware.  My HTC Touch Pro is now aging but I think I can wait a while to see how 4G pans out before upgrading. I was seriously considering a Palm Pre Plus until PALM’s latest earnings report.

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