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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
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.
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
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.