Palm is looking for a buyer. I love Palm and have owned at least half a dozen. The Treo is still better than anything that Microsoft ever made. The problem is that the mobile market is all about Apps now. It does not matter that Palm is better than Android.
There are currently only 2 platforms with the critical mass of Apps - Iphone and Android. Android has two things going for it. It is free so it has the backing of HTC, Samsung, Sony, Motorola, etc. Some have made the mistake of saying it is Apple vs Google. It is Apple vs everyone who is afraid of being left out of the mobile market. The biggest thing that Android has going for it is a number 2 position where number one has Steve Jobs. He just added Adobe to the Android camp.
The long approval process for the Iphone store, SDK license issues, iAds, etc means that Apple is pushing more developers and corporations toward Android.
Back to Palm. Palm's problem is that developers will not write for it until there are enough devices sold. Not enough people will buy the device if there are not apps for it. This is the same problem for all the other Smartphone wannabes.
It makes no sense for HTC or Lenovo to buy Palm when it has so little value. The only companies that it makes sense for are Blackberry or Nokia. Companies that are locked into owning mobile platforms and could use some coolness.