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SCO Granted Hearing on Potential Delisting

Posted by ryuzaki0 on from the plead-for-your-life dept.

Groklaw Reader writes "SCO will be allowed an oral hearing on its potential delisting. The hearing is scheduled for March 17, 2005, so they again show us what they are best at: staving off impending doom. There is no way to predict the outcome of the hearings, but most of the informed speculation is negative, so there are no silver linings in this case. Unless you think they can find some crazy reason to sue the Nasdaq for billions over it..."

10 of 191 comments (clear)

  1. Huh. by numbski · · Score: 5, Insightful

    I think that we've seen so much of SCO that we're all collectively out of things to say on the matter.

    Delist them and let them go away. Finally.

    --

    Karma: Chameleon (mostly due to the fact that you come and go).

    1. Re:Huh. by MightyMartian · · Score: 5, Insightful

      Even worse, let's just say SCO completely disintegrates. Let's even say, for good measure, that the next year or two is gobbled up with shareholder lawsuits and torture sessions for McBride.

      At the end of it, someone is going to buy up what's left, and possibly even with an eye on the case against IBM. I'd rather that SCO survive long enough to be handed its testicles now, rather than have this ugly demon pop up again in 2007 or 2008.

      --
      The world's burning. Moped Jesus spotted on I50. Details at 11.
    2. Re:Huh. by UID30 · · Score: 5, Informative

      delisting is not quite as it sounds. they would really "move" from Nasdaq SmallCap to OTCBB or Pink Sheets. they would still, however, be a publicly traded company.

      --
      "Glory is fleeting, but obscurity is forever." - Napoleon Bonaparte
  2. On St. Patrick's Day, No Less by ackthpt · · Score: 5, Funny
    The hearing is scheduled for March 17, 2005, so they again show us what they are best at: staving off impending doom.

    St. Patrick's Day?!?! Gee, imagine Lucky the Leprechaun as an SCO spokesman: "Always after me impending doom!" At least it gives us another occasion to toast with our pint o' Guinness, Harp, Murphy's or some beer with green food coloring in it (hopefully not Sudan-1.)

    Unless you think they can find some crazy reason to sue the Nasdaq for billions over it..."

    Maybe NASDAQ is running some of it's systems on Linux and that's SCO's perceieved Ace-Up-The-Sleeve.

    NASDAQ Hearing Committee: "Your company is going down the toilet, you're a parriah and you can't even get your paperwork filed on time"
    Darl: "Avast thar, ye scurvy dogs! We be finding yer exchange has a Linux installation on a server, tucked away inna corner. Renew our listing or we'll sue yer fer IP theft and make ye walk the plank! Arrr!"
    NASDAQ Hearing Committee: "You're also a pretty piss-poor pirate. At least get a parrot."

    --

    A feeling of having made the same mistake before: Deja Foobar
  3. Victim's Impact Statement by bigtallmofo · · Score: 5, Funny

    Will all of us be permitted to prepare and recite a victim's impact statement during the hearing?

    --
    I'm a big tall mofo.
  4. Hedge Funds by artlu · · Score: 5, Interesting

    As a hedge fund manager myself, one of our strategies is to target distressed companies in order to turn profits. However, SCO's model of late has been dismal for the product category that they are targetting. For example, a company like Rambus ("RMBS"), which basically makes their money from I.P. regarding memory has staying power as their patents span many products and industries.

    On a side note, my hedge fund does not have the resources of taking over a company, but following Eddie Lambert's role with KMart/Sears it would not surprise me if an independent company would make a requisition bid for SCO.

    Aj

    --
    -------
    artlu.net
  5. Hang in there by rdavidson3 · · Score: 5, Funny

    We need you. You can't leave us...

    If you do leave, what else would the /. community laugh at

  6. Re:symbol.. by Anonymous Coward · · Score: 5, Informative

    yes, that's an acknowlegement that the underlying company is not in compliance with exchange rules and is under investigateion.

  7. Delisting by bazmail · · Score: 5, Insightful

    Delisting is not the end of a company. It takes the shine off their corporate presence, but little more. The huge crippling lawsuit on the other hand could well be the end for SCO, here's hoping. This is a non-story about a non-company.

    Bring on the litigation.............

  8. Isn't it amazing.... by JustNiz · · Score: 5, Interesting

    According to this story:
    http://www.theregister.co.uk/2005/02/25/sc o_titani c/

    Sco's total revenues are down 59% and their SCOSource revenues are down a staggering 99%. Sco are badly losing in court and now they are probably going to be delisted.

    Isn't it amazing that Darl McBride gets a salary well in excess of $1m, a bonus of 750,000, plus thousands of shares and options.

    How does Darl get away with it and how can a board of directors that pay him actually be THAT stupid?