The memo is real, and has been confirmed by both the BBC and CNN. This is a turning point for Nokia. A credit rating downgrade for a multi-national organisation is very bad news indeed. I think Elop is going to do to Nokia what Jobs did when he returned to Apple (after being dismissed by his own board), he's going to turn it around. But the transition is going to be a very painful one for many Nokia employees, there's going to be carnage in the ranks. Frankly, it's about time someone took Nokia by the scruff and gives it a good shake. Also, hate to say this as I'm a Meamo fan and have been waiting for Meego for a long time, but I think joining forces with Microsoft would be the best thing for Nokia. They need to get their heads around a competitve OS. Why spend a fortune developing an in-house OS when you can piggy back off of a perfectly acceptable system like Windows 7.