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SCO and Baystar Strike a Deal
comforteagle writes "As you'll no doubt recall, SCO financier wanted to cash-in on its stock because of how SCO was being run. It appears they've struck a deal. 'The SCO Group, Inc. today announced it has entered into an agreement with BayStar Capital II LP to repurchase and retire all 40,000 shares of Series A-1 Convertible Preferred Stock currently held by BayStar.'" Summary: Baystar and the Royal Bank of Canada invested $50 million in SCO in October 2003. In 6 1/2 months, they've now converted their investment to $13 million in cash and $13.7 million of common stock, for a loss of almost half their investment.
1) Start up a private investment company 2) Invest $50,000,000 in SCO 3) ??? 4) Prof.. wait, I think I'm doing this wrong
Hey, if it worked for Bill Gates...
(yeah, I know it's a cheap shot, but it's all I can afford at the moment)
Every year during my review, I just pray the words "slashdot.org" aren't mentioned.
Well, the good news is, RBC and Baystar are giving all of their employees a year's supply of SCO brand toilet paper for free. Two-ply.
SCO let them run Linux without having to pay that licensing fee.
Best Windows Freeware
What you should have done is hired Marta Stweart's old accountant, so before any of this went down you could have sold your stock.
Baystar and the Royal Bank of Canada investment:
$ 50 million.
Money lost on investing in SCO:
$ 23.3 million.
Poetic humiliation and embarrassment as payback for all the SCO's actions against Linux Users:
Priceless.
First, start with a large fortune . . . . . .
sco gets their ass handed to them
It would be cooler if it was their still-beating heart.
My sig sucks.
1. Invest in SCO.
2. ?
3. Loss!
Sorry,
Dave
I write a blog now, you should be afraid.
Daryl (to self): Our stock is like a stream of bat piss.
Investor (in alarm): What did you say?!!
Daryl (was that outloud?): What I said was
no, no, no MS doesn't sue for patent infringment they GET sued for patent infringment. geez and you call yourself a /. reader
I *hate* may father. He spent the first 18 years of my life making it pure Hell. He spent the next 10 years trying to do the same. So when he came to me a few weeks ago to ask advice on "high-tech" companies to invest in, well, I gave him a "choice" recomendation.
Is it just me or does SCO's need for venture capital to fund it's IP litigation remind anyone else of one of those Nigerian 419 scams?
Think about it, someone (SCO) has a line on a lot of money in the Nigerian central bank encumbered by some sort of red tape (IBM, Novell and basically every Linux user on the planet think SCO is full of hot air). They just need some cash up front in order to get it out (have to hire a bunch of soulless IP lawyers). If you are willing to front them them some money (invest in SCO) you'll get a phenomenal rate of return when the money is freed up (SCO wins their suit, or pigs fly, whichever comes first).
The parallels are striking. Poor Baystar, they got taken by one of the oldest ones in the book.
"Series A-1 Convertible Preferred Stock" would be an awesome name for a car
Start as a Billionaire
Help fight continental drift.
Can we stage a hostile takeover and fire Darl? I'd kick in $20...
I'm trying to teach myself to set people on fire with my mind... Is it hot in here?
It would be cooler if it was their still-beating heart.
That would imply they have one
So, let's see:
1. Invest in evil.
2. ???
3. Sell back to evil
4. Profit !!!
Oh, wait.
I would like to invest my beer gut into SCO. Then in 6 months I have only 1/2 a beer gut. Sounds good to me. Lou Sir
If they're talking Canadian dollars, that 6-1/2 million dollar loss is like, what, $847 USD?
Is Darl going to be able to start shooting off his mouth again? Will we get a new laugh every few days as he makes outrageous claims, sues more people, contradicts himself publicly, etc.
I just can't wait. Perhaps they'll sue the penguin lovers society first, followed by 'all programmers', then on to some bizarre victims of their wrath.
The great American dream. Money for nothing, and your chicks from your R&D department...
"Learning is not compulsory... neither is survival."
--Dr.W.Edwards Deming
Well some of use actually want to live in our house for a little bit before we lose it to the bank. "Sorry sweety, you can't have new shoes because daddy lost big short selling stock" really doesn't cut it.
"Learning is not compulsory... neither is survival."
--Dr.W.Edwards Deming
That's simple. they have a brand that resembles rawhide with hair on it. It can be in black, brown, or white. Utters and horns are also signs of their brand.
"Learning is not compulsory... neither is survival."
--Dr.W.Edwards Deming
Keep in mind Melinda Gates was the R&D genius that suggested Microsoft Bob, so I don't think he got the brightest star out of that crowd.
Etiquette is etiquette. He kills his mother but he can't wear grey trousers.
I bet that marrying Bill was punishment for Microsoft Bob. ;)
But when some garbage company like SCO comes along and decides its sole purpose is to destroy an industry and profit from that destruction, the same way we obtain energy from matter by smashing it up in a nuclear reactor, that makes me mad
how do you think God/Allah/The Great Spirit feels when people destroy his/Her/Its precious matter in a nuclear reactor?
Stop nuclear energy! You are making God mad!
You think a robo-house would help? Personally, I think a shower unit alone would do the trick.