MAJOR PAPERS:

• BlackBerry maker Research In Motion Limited (NASDAQ: RIMM) suffered a lengthy outage yesterday to its e mail service, affecting about half of its North American customers. The cause has yet to be determined, but, according to the Wall Street Journal, its strong make loyalty could be tarnished, particularly as rivals gain a stronger foothold, and RIM could find itself in a weakened negotiating position with its wireless partners.
• The Wall Street Journal plus reported that Microsoft Corporation (NASDAQ: MSFT) said Yahoo! Inc’s (NASDAQ: YHOO) rejection of its tender did not change its view that the $41.6B offer was “full and fair.”
• Activist investor Ralph Whitworth is reportedly in advanced talks to join
  Sprint Nextel Corporation’s (NYSE: S) board, the Financial Times reported, which would allow him more capability to put pressure on management to improve the performance of the company.

WEB SITES:

• According to humans familiar with the plans, Bloomberg reported that six lenders that include Citigroup Incorporated (NYSE: C) and Bank of America Corporation (NYSE: BAC) will participate in a plan called Project Lifeline, which will offer a 30-day freeze on foreclosures “while loan modifications are considered” in order to help assured borrowers facing default stay in their homes.

Original post by Laurie Pasternack

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