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SCO Shares Plunge, Canopy Management Change
bretberger writes "Shares in Utah's SCO Group went into a tailspin late Tuesday as news spread of both deepening losses and an apparent coup at the software company's corporate parent, the Canopy Group."
What I want to know is how illegal this whole racket was...
I never said I was smart, I just said I was smarter than you
That Mustard is a bit of a hatchet man. (walks into a sinking ship and throws so many people overboard that its starts floating.. then points that barely floating ship back in a direction that will assure the safety of whomever is left)
Couple that with the CFO's leaving and the REALLY piss poor financials that were released yesterday.. I reckon we're about to see the end of this whole saga.
"Consider how lucky you are that life has been good to you so far. Alternatively, if life hasn't been good to you so far
What's more important is their balance sheet.
$10M in the bank and a burn rate of $3M per quarter.
Unless they get some extra revenue within 6 months they're toast.
""The fate of SCO is one of the big question marks. New management at Canopy . . . may push [SCO] to try and settle."
This remark just made my day. Imagine SCO trying to settle, being pressured by it's parent company, sitting with IBM attourneys, trying to 'reach out' to IBM to make some sort of agreement. I figure they'll eventually both agree that SCO has wasted all of their time and money on something that is going to eventually cost it's upper management their careers, and hopefully their freedom (but I doubt they'll realize that quite yet.)
and this:
"We're in a challenging business environment," he said during an earnings teleconference. "[But] we believe there is value in our Unix licensing business and we offer our customers . . . value they need to be made aware of."
It's straight out of The Godfather. Way to tell it, Darl!
Novell will be the one to come in and snatch up SCOX.
Novell is making Linux the centerpiece of its technology strategy, so it has something to loose.
Ending this thing once and for all would endear the Linux community to Novell, so it has something to gain.
It also has $475M earmarked for acquisitions.
Novell has a history with SCO/Canopy. Ray Noorda was the chairman at Novell before he started Caldera. Darcy Mott was Novell's Treasurer, and R. Duff Thompson was Senior Vice President of Corporate Development. Even Darl McBride came through Novell.
SCOX has a $79M market cap. For this small portion of their acquisition warchest, all this goes away and they get real linux street cred. Their marketing department should be lobbying hardest for this one.
When they're done with that they'll buy UNIX(TM) from The Open Group and geeks will write songs about them.
Only if they want to crush Redhat, that is.
My God, it's Full of Source!
OUTSIDE_IP=$(dig +short my.ip @outsideip.net)
Heh, good to point this out. If you look at the "Insider Trades" link on Yahoo Finance, SCO insiders have sold of 2,246,000 shares in the last 6 months (~25%). Looks like they don't have much faith in their company..