Edelman Lost Palm, And Likely A Major Headache

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Palm pulled all of its PR in house this past February, ending a 14-year agency of record relationship with Edelman.

While Edelman still works with the company on a project basis, it appears Palm has descended beyond the point where PR can do much to help them. Counter argument: Palm needs good PR counselors now more than ever.

Two analysts today lowered their price targets on Palm’s stock to $0. Morgan Joseph & Co. analyst Ilya Grozovsky, told CNNMoney.com, “Palm is essentially an accelerating death spiral.”

And Grozoksky, for one, thinks all the marketing in the world won’t help. “They keep saying, ‘we need to market, market, market,’ because in their mind it’s a marketing problem,” he said. “But it’s not about the trainees and the sales people, it’s just too competitive of a space right now for Palm to make any difference.”