Dropping Linux Helped Restore Corel Profitability

basotl writes "Newsforge is reporting that Corel attributes part of its financial comeback to dropping Corel Linux and its Linux office suite. Though they are not currently offering products for Linux, they are interested in prospect in the future." From the article: "Looking back, Brown describes the decision to drop Corel Linux as 'a successful strategy for Corel and an early step toward the refocusing of our business. At the time we knew that Corel's core focus was moving away from the operating system to concentrate more on our application offerings, and this would almost certainly have an impact on the level of service we could afford to customers and users of Corel Linux.' Nor, as a company struggling to regain profitability, was Corel inclined to try to develop the GNU/Linux market by continuing to support WordPerfect for Linux."

Comments

Re:Not really surprising

[telso]

From the Wikipedia Article: He survived an investigation by the Ontario Securities Commission

Uh, that depends how Wikipedia defines "survived". If it's defined as being reprimanded and fined (with his holding company, for only half a million dollars) for insider trading, then yes, I guess he did "survive" it. This slimebag's questionable trading right before the stock tanked caused Corel (and it's nice WordPerfect Suite) to be hampered for years. To quote the OSC:

Mr Cowpland is before the panel because of an egregious error in making a trade without disclosing knowledge of a material fact. [...] This panel however, is of the view that, had this conduct taken place after the amendments to the Ontario Securities Act in April 2003, [...] the sanctions ordered by this panel may have been much more severe.

[...]

[64] The respondents will pay $500,000 to the Investor Education Fund.

[65] Pursuant to section 127(1) (8) of the Act, Michael Cowpland is hereby prohibited from becoming or acting as a Director of a reporting issuer for two (2) years from the date hereof.

[66] M.C.J.C. Holdings Inc. [Cowpland's holding company which he sold his shares from] and Michael Cowpland are hereby reprimanded.

[67] Pursuant to Section 127(1)(2)(a) and (b) of the Act, M.C.J.C. Holdings Inc. is ordered to pay $75,000 to the Commission in respect of a portion of the Commission's costs with respect to this matter.

Time to insert another {{dubious}} into Wikipedia :(