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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."
Lots of good news before XMas. Best christmas present if you ask me. No software patents in EU, Microsoft fined and SCO stock down. What more can one ask?
Is this really news, who here actually thought SCO was gonna win? really though..
MABASPLOOM!
Isn't that name kinda ominous? A canopy blocks out the sun, gets everybody under one thing and cuts you off from the primal forces. Perhaps something more honest, like maybe COBRA?
...is if the parent co, Canopy Group, and all of the corporate criminal scumbags in charge over there lose their shirts and their golden parachutes mid fall. Otherwise, it will be them who are laughing all the way to the bank, despite the validity of the linux community's claims of fraud. This current administration won't go after them. Given what they have been doing lately to fuckups, they would probably give Darl an award...
Who are you? The new #2 Who is #1? You are #617565. I am not a number, I am a free man! Muhahaha.
Who wants to bet that before long Microsoft will march in as White Knight and have proxy control over SCO. Hell, it already controls it indirectly!
Umbrella Corporation?
... Colonel Mustard, in the boardroom, with a letter opener.
Now how are people going to get their license for Linux?!
Settle? Does anyone see IBM settling? Why would they when they will win.
12/07/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $45,870.00
12/07/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 6,100 Open Market Sale proceeds of $28,745.00
12/01/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 15,000 Open Market Sale proceeds of $61,767.00
11/30/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 70,500 Open Market Sale proceeds of $273,550.00
11/24/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 60,000 Open Market Sale proceeds of $216,181.50
11/22/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 37,500 Open Market Sale proceeds of $131,250.00
11/19/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $35,000.00
11/17/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $35,465.00
11/08/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 100,000 Open Market Sale proceeds of $372,615.00
11/05/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 22,000 Open Market Sale proceeds of $80,900.00
I hope for only one thing :
That their (inevitable) demise receive AT LEAST AS MUCH publicity on public news channels / papers that their foolish lawsuits received. To inform the population that it was FUD. Or else they'll have (kinda) suceeded in inspiring a doubt in the minds of many concerning Linux legitimacy. No one on slashdot, obviously, but the common man who heard on news that SCO was suing IBM on UNIX/Linux for code thievery... maybe.
Eureka Science News - automatically updated
I was certain the, honorable and the trusted SCO Software would come out ahead of those socialist pirates known as Linux users. Who's with me?
1,000 SCO shares.. The perfect gift for your in-laws for Christmas!
Attorney David Boies of New York agreed to cap the overall cost of SCO's lawsuits to $31 million in return for a bigger piece - 33 percent, instead of 20 percent - of any settlements.
Dear David,
We ran out of money, but we will give you an even bigger slice of nothing.
Love,
Darl
SCO is a software company??? All this time I thought they were just a legal firm...just me?
You'll have that sometimes...
Anybody who "bought low" today (around 10:00 AM) and sold at market close made a cool 14%. The price started its correction near the market close, and will probably return to close to its Monday levels.
I mean dude, look at the charts. Notice the volume spike at around 10:00 AM. It was this sudden accumulation move that caused the prices to turn back around. The whole game is purely psychological. Today was certainly a good day to buy SCOX.
I don't have time to learn a new villian.
-pyrrho
I don't think that's a good idea. When I'm high I don't make very good deals.
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
The state of California putting an end to sneakwrap EULAs!
eric
Canopy's investment in Trolltech is absolutely tiny. As far as I am aware nothing that could possibly happen to Canopy would affect Trolltech at all.
Irritable, left-wing and possibly humorous bumper stickers and t-shirts
I, for one, welcome SCO's new overlords!.
To get laid???
SCO was under $3 at the beginning of November. It's last trade today was at $4.17. Yea, stocks go up and down, but to call this a tailspin is a bit extreme. It's taken a couple of bigger drops in the last two months, but the rises have been even larger. Hey, I hate SCO too, but reporting a relatively small dip in the stock as a tailspin is an overstatement based only on bias against them.
I'm an American. I love this country and the freedoms that we used to have.
Especially when the stock was 25% lower less than two months ago.
I do have to thank SCOX for one thing, though. They got one of the Groklaw readers to pester UCal for a copy of the secret AT&T/BSD agreement under a Freedom of Information request. As it turns out, there wasn't any thing scary in there after all.
#naabhaprzrag, #sverubfr-000, #agi-fcbafberq, negvpyr[pynff*=' negvpyr-ary-'] { qvfcynl: abar !vzcbegnag; }
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)
You don't get street cred for rewarding extortion. Look at where SCOX was before they pulled this BS. About a buck a share. And SCOX has diluted shareholder value (in other words, printed and sold more stock) since then. Let's see: option 1. Pay more than 4x the original value of the company for an extortion threat or 2. let SCOX die a slow, painful and public death for being idiots. Anyone thinking of getting good PR by preventing this company from publicly bleeding to death from its self inflicted gut-shot is stupid. Paying off extortionists is *always* bad PR.
-Blaine