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SCO Shares Plunge, Canopy Management Change
Posted by
samzenpus
on Wed Dec 22, 2004 06:09 PM
from the that's-a-shame dept.
from the that's-a-shame dept.
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."
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Good news (Score:5, Funny)
don't forget... (Score:5, Informative)
eric
Parent
I can think of one! (Score:5, Funny)
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Re:I can think of one! (Score:5, Funny)
I can't believe you're spreading rumors about this mythical "getting laid" thing.
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News? (Score:5, Funny)
Re:News? (Score:5, Funny)
Yeah, exactly. And when Laura DiDio said: "The fate of SCO is one of the big question marks. New management at Canopy . . . may push [SCO] to try and settle." I was thinking "Settle for what? Not having IBM kick their collective asses into orbit around the sun?" I don't think they're in much of a position to try bargaining.
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Re:News? (Score:5, Funny)
SCO Lawyer: OK
The IBM lawyer grabs a pen a scribbles on a sheet of paper, folds the paper in half, and slides it across the table. The SCO lawyer reaches, picks up the paper, unfolds it, and sees this:
----------------
| |
| _ |
| / \ |
| / \ |
| | | |
| | | |
| \ / |
| \_/ |
| |
|______________|
IBM Laywer: Do we have an agreement?
- Tony
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Re:News? (Score:5, Funny)
Burns: I'm going to write a figure on this piece of paper. It's not quite as large as the last one, but I think you'll find it fair. [draws a giant zero]
Hutz: I think we should take it.
Parent
Re:News? (Score:4, Funny)
SCO Lawyer #1: (aside to SCO Lawyer #2): dude he totally drew a vagina. We're gonna get PUSSY!
SCO Lawyer #2: (to #1): I know it! It's 100% grade A putang for us! Daryl is gonna be STOKED! I'm gonna step out and call him now. (steps out) Dude! Pop open a foamer and sit down, Christmas is coming early this year.......
#1 (to IBM Lawyer, stifling laughter and adjusting pants): All right, we've considered your offer and are prepared to accept it. Do we, uh, accept it here or somewhere else?
IBM Lawyer: What the fuck are you talking about?
Parent
Re:News? (Score:5, Insightful)
Each of these claims have had some merit as well as critisism of the Yankee Group reports.
Are they another firm that waits until the writing on the wall is written in neon and suddenly pipe up with a resounding "Me too!"
Parent
Re:News? (Score:5, Informative)
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WOW! Now it's cheap! (Score:3, Funny)
Re:WOW! Now it's cheap! (Score:5, Funny)
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Re:WOW! Now it's cheap! (Score:4, Funny)
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Printed on soft paper? (Score:4, Funny)
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Re:WOW! Now it's cheap! (Score:5, Informative)
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.
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Re:WOW! Now it's cheap! (Score:5, Funny)
I don't think that's a good idea. When I'm high I don't make very good deals.
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Canopy Group? (Score:5, Funny)
Re:Canopy Group? Dont you mean ... (Score:5, Funny)
Parent
The only way justice is to be done... (Score:5, Insightful)
Re:The only way justice is to be done... (Score:5, Insightful)
You seem to be under the delusion that some other administration would go after them. White collar crime is nothing new, as is the tacit guarantee that white collar criminals are virtually unpunished (with a few token ones like Martha Stewart and a couple of Enron officers). The fact is that it's nearly always the extremely wealthy, ivy-league educated that even compete for the presidency. And one thing can be said of the wealthy: They have a great deal more sympathy for the problems of their fellow upper crust than they do for the problems of any other economic strata. Democrat, Republican, whatever... The rich have the belief that they pay the taxes, so they should get the police -- not the areas that actually have crime. They pay the taxes, so the laws should benefit their lifestyles, not the mid and lower class.
And never forget that Kerry still has even more money than Bush.
Nor can I think of any president in the last half-century that did much to prosecute white-collar crime.
And before that, there was the great depression, where everybody was poor anyway...
Hmm... I've got it! We need another Theodore Roosevelt. A guy that spent his presidency breaking up monopolies and fighting for the working class.
He's dead, though. And I doubt he'd win a modern election.
Parent
Re:The only way justice is to be done... (Score:5, Insightful)
Yup. I was looking at the only known picture of TR and FDR last night and said wistfully to my wife "Why can't we have someone like that be president again?" The answer, of course, is television.
WRT white collar crime - no one walks the streets at night worried that a white collar criminal might kill them pointlessly while looting their pension fund.
Parent
I know it's trite, but: (Score:3, Funny)
AH-HAH
</nelson>
Seriously, SCO should be in the OED under "schadenfreude". I love seeing this stuff!
Microsoft will be the white Knight (Score:5, Insightful)
Re:Microsoft will be the white Knight (Score:5, Interesting)
What I want to know is how illegal this whole racket was...
Parent
Novell, not Microsoft (Score:5, Interesting)
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 [zdnet.com] 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 [yahoo.com] 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.
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Neither Novell, nor Microsoft (Score:5, Insightful)
You don't get street cred for rewarding extortion. Look at where SCOX was before they pulled this BS. About a buck [yahoo.com] 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
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The new Canopy CEO is... (Score:5, Funny)
"Plunged?" (Score:3, Insightful)
I've seen companies take a 35% hit based on bad news and return to previous prices in less than a week. Considering the apparent magnitude of the announcement and the ensuing PIDDLY 7.5% drop I'm going to wager on the stock price returning to its recent levels.
I'm placing a market open order for (virtual) shares of SCOX right now.
(This is not financial advice, I'd barely even consider it virtual financial advice.)
Re:"Plunged?" (Score:5, Informative)
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.
Parent
WHY?? (Score:5, Funny)
Settling? (Score:5, Insightful)
Settle? Does anyone see IBM settling? Why would they when they will win.
SCO Insider Trades (Score:5, Informative)
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
Re:SCO Insider Trades (Score:5, Interesting)
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Hope (Score:5, Insightful)
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.
I for one am shocked! (Score:4, Funny)
DiDio Doin it Again (Score:3, Interesting)
Does she expect to retain any value as an "independant analyst" in the post-SCO market? It's all too common for analysts to be paid to support a product or company, but they're usually a little less blatant about it. Who would value her opinion, knowing that her opinion is for sale?
Though... I suspect (recently) that it's more Canopy holding her leash, than SCO, since she seems to choose Canopy over SCO when she has to (like in her recent comments - she still didn't say anything bad about them, but saved all her real praise for her theoretical overlords at Canopy).
Sucker! (Score:5, Funny)
Dear David,
We ran out of money, but we will give you an even bigger slice of nothing.
Love,
Darl
5 year trend (Score:4, Informative)
http://finance.yahoo.com/q/bc?s=SCOX&t=5y [yahoo.com]
SCO started the attack on Linux first (early 2003) when their stock was at the lowest point, and it paid off a bit - until now - and they are back where they started, except now everybody hates them
can you hear this? (Score:4, Funny)
we can't let this happen (Score:5, Funny)
Rumor Has it... (Score:5, Interesting)
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.
SCO Management (Score:5, Funny)
bogus report (Score:5, Insightful)
Another number: 99% drop (Score:4, Informative)
Naturally, the truth is somewhere in between. This is bad news for SCO's strategies. That does not mean McBride won't be able to convince his minders to hold the course and continue with litigation. Strictly speaking, at this moment, they're still convinced. Neverhteless, it's obviously a bumpy road ahead for them.
So, don't throw a victory party yet, but I think we're all entitled to spend a few minutes smirking.
Re:Another number: 99% drop (Score:5, Interesting)
$10M in the bank and a burn rate of $3M per quarter.
Unless they get some extra revenue within 6 months they're toast.
Parent
Classic Quotes (Score:5, Interesting)
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!
Re:but the real question is... (Score:5, Funny)
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Re:but the real question is... (Score:4, Informative)
They sold their Unix licensing business (which they had bought from Novell) and their name to Caldera. Caldera changed it's name to SCO, and (old) SCO changed their name to Tarentella.
So, that's not them that are there now.
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Re:How will this affect Trolltech ??? (Score:5, Informative)
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