SCO Receives Nasdaq's Delisting Notice 208
An anonymous reader writes "This somewhat amusing press release of sorts tells us one of those things we've all been waiting a while for. SCO(X) has announced that 'it received a Nasdaq Staff Determination letter on December 21, 2007 indicating that as a result of having filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the Nasdaq Listing Qualifications Panel has determined to delist the company's securities from the Nasdaq Stock Market and will suspend trading of the securities effective at the open of business on Thursday, December 27, 2007.' PJ at Groklaw has surmised that with effectively zero cash resources left, Novell doesn't stand to get much more than SCO's furniture, if even that.
Ding dong, is the wicked witch finally dead yet?"
If there was any proof.... (Score:5, Interesting)
If there was any proof that this was by design (which it probably was) could the directors be held liable in the US?
Re:If there was any proof.... (Score:5, Funny)
Re:If there was any proof.... (Score:5, Funny)
Re:If there was any proof.... (Score:5, Funny)
2. Duck
3. Sell chair back to Ballmer
4. Duck
5. goto 3
6. profit
How do I get to 6 again?
Re:If there was any proof.... (Score:4, Funny)
1. Sell chair to Ballmer
2. Profit!
3. Duck
4. goto 1
5. OUCH
6. PROFIT!! (lawsuit)
Re:If there was any proof.... (Score:5, Funny)
Re:If there was any proof.... (Score:4, Funny)
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In practise - I'll believe it when I see it. As long as the directors can drag up some crackpots to claim they acted in good faith based on their analysis or advice, they usually walk away with no problems at all. The level of deception and fraud you have to prove in order to make anyone personally responsible is very high, Gross incompetence is unfortunately not enough.
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These guys aren't in the Enron/Global Crossing/Tyco realm....they're just fucking idiots.
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The corporate vale is very thick. Odd as it seams, all SCO's management would need to do to get shafted royally is pay personal expenses directly from the company accounts and skip the AGM.
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Re:If there was any proof.... (Score:5, Insightful)
Surely someone will be drawn and quartered in there for the lies and coverups necessary to try to make it all believable.
They have bright futures ahead (Score:2)
I'm sure we'll see him as the CEO of Royal Crown soon, suing Coke and Pepsi for stealing his
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Re:If there was any proof.... (Score:4, Informative)
Mod parent up (Score:5, Interesting)
It's worse than that - part of their compensation was stock. That means that they were
a) part owners of the company, and
b) they had an inherent conflict of interest as officers of the court. They had a huge incentive to act unethically with the lawsuit - they didn't get paid unless SCOX stayed at a high value, which is substantially different from getting paid if they won the suit.
Obligatory Futurama Reference (Score:3, Funny)
I wonder if you could get a sandwich with SCO stock right now. . . .
Re:Paraphrased Obligatory Futurama Reference (Score:2)
Hermes Son: I'm going to buy two shares of SCO!
Hermes: Oh! A risk taker!
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Hermes: The shares were worthless, and he kept asking for toilet paper!
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Guess that means Microsoft can declare victory then.
Printed SCO stock certificates will probably be worth something in years to come as curiosity items, only problem is that very few paper certificates are likely to exist. Most stock is held in street names these days.
Novell will end up with slightly more than the furniture, they will obtain title to all SCO copyright material. At this point the safes
New stock symbol (Score:5, Interesting)
$0.18 to $0.12 [yahoo.com] in 45 minutes. Impressive!
Re:New stock symbol (Score:4, Funny)
McBride Goeth Before a Fall. (Score:3, Interesting)
So the company is dirt. What's happened to the litigious bastards responsible? Has Darl McBride got away with a fat severance package and a job at Microsoft, or did the directors of SCO go down with their ship in any meaningful way?
Re:McBride Goeth Before a Fall. (Score:5, Insightful)
Darl McBride continues to be with the company, as do most of the other important company directors.
As with every other piece of SCO news, people around here are overreacting to this. Being de-listed from the NASDAQ doesn't really mean a whole lot, because they weren't counting on using any investor money at this point anyway. They've put all their financial eggs in one basket, and that's the lawsuits. And those are continuing; SCO has even said they'll appeal the Novell ruling.
This doesn't mean SCO is "dead", not any more than they were yesterday or the day before anyway. Essentially all that's changed is that you won't be able to point and laugh at them on Yahoo Finance anymore.
It's maybe one more nail in the coffin, but they've been building that coffin for a while now, and it's still not finished yet.
Re:McBride Goeth Before a Fall. (Score:5, Interesting)
Practically speaking the only way they can even have a chance with IBM is if they can fulfill step one in the process. Who owns the copyrights. SCO has to own them to be able to continue with the case. Until they win IBM or come out of bankruptcy, they don't have them money to appeal the Novell decision. Until they appeal the Novell decision, they don't have a chance of owning the copyrights they need to win the IBM case. Thus a perfect chicken and the egg or catch 22 scenario.
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"Essentially all that's changed is that you won't be able to point and laugh at them on Yahoo Finance anymore."
Wanna bet? Alternate link to yahoo message board for SCOX [yahoo.com].
If anyone deserves to be kicked on the way down, its' these SCOXsuckers ...
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Re:New stock symbol (Score:4, Funny)
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Dropping due to (Score:3, Insightful)
Now, to pierce that corporate veil...
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If you don't understand it at all, don't delegate to someone who claims to.
Stocks are bad. Mutual funds are bad^2.
Keep in mind that some pension funds bought into those junk-bond style subprime mortgage investment products.
A little stupidity and a little greed you have the perfect sucker/mark. This is especially so if the mark happens to be in charge of a corporation, investment fund or pension fund.
In the words of the great orator Nelson... (Score:3, Funny)
Haha!
Ding dong (Score:3, Informative)
No, the wicked witch is still spreading FUD [theregister.co.uk].
She's down one Winkie now though.
Re: Still spreading FUD. (Score:4, Informative)
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Besides, why should I Google when I'm not the one making a claim? I'm pointing out that the evidence provided so far is out of date.
Re:Ding dong (Score:5, Funny)
Not dead according to them! (Score:5, Funny)
SCO intends to maintain business as usual throughout the Chapter 11 proceedings. Subject to court approval, SCO will use the cash flow from its operations to meet its capital needs throughout the reorganization process.
Other companies such as Delta Airlines, Texaco, Dow Corning, K-Mart, United Airlines, Toys R' Us, Macy's Department Stores and others have emerged from Chapter 11 protection after restructuring themselves for success. We intend to do the same.
Restructuring for success - Top Ten list (Score:3, Funny)
Ok, let's do a David Letterman style top-10 list on ways SCO could "restructure themselves for success"! Ready?
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Of course, there's the other side of the spectrum. My first tech job went under when the CEO paniced and spent so much time trying to unload the company to a corporation that he had to sell it for pennies on the dollar. And one of my favorite comic book publishers, Cr
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Okay then (Score:5, Funny)
I'm fine with that. One of my friends in Redmond could use a few more chairs.
Miguel.
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You lucky stiff. I need low friends in high places, but all I have are high friends in low places.
-mcgrew
And so.. (Score:5, Funny)
And let us say:
Bwa ha ha. Ha ha. Ha ha.
Ha.
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Let us take a moment to remember SCO, and all that they did for us. For yea, they did take douchebaggery to new heights, and may their executives never again find work, and their lawyers develop sores. May their stockholders be infested with fleas in places they cannot scratch, and the offices that they occupied cursed for all time. As we prepare to bury this pitiful excuse for a company in the grave of history, may its death continue to be slow and painful.
Let us not forget the Microsoft connection. Fro
Why the 6-day delay? (Score:2, Interesting)
Either SCO got it but didn't release it, or SCO didn't get it in a timely manner.
This should have been released to the public at least 1 trading day before the effective date.
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The SEC should investigate (Score:3, Informative)
Where
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Slashdot has the slowest firehose on the planet!
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It took until 12/27 to hit the newswires because the SCO press release is dated 12/27. [sco.com] The newswires picked it up the same day, today.
Great quotes from SCO's CEO (Score:4, Informative)
Not dead yet (Score:5, Funny)
----
I'm not dead yet
SCO yard sale (Score:3, Funny)
Chairs... conference tables... lights... cubicles... free copy of Unix with each purchase...
I think i speak for everyone when i say (Score:2)
It was fun, but please DIAF (oops, too late).
Love,
The Community
P.S. F*CK YOU!
Re:So why does everyone hate SCO? (Score:5, Informative)
Re:So why does everyone hate SCO? (Score:5, Informative)
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Gerry
poor SCO (Score:4, Funny)
Segway (Score:2)
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Gee, be gone for Chrismas and all hell breaks loose!
The very best thing about this press release (Score:5, Funny)
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SCO owns the core UNIX operating system, originally developed by AT&T/Bell Labs and is the exclusive licensor to UNIX-based system software providers
Actually, that might just be true. The second part (exclusive licensor) is true, actually. The first part depends on what "owns the core UNIX operating system means". It's pretty clear they don't own the copyrights on AT&T UNIX, and the definitely don't own the UNIX trademarks, but you could interpret "exclusive licensor" as "owner" without too much stretching.
In any case, whatever they are or are not, they're not going to continue being for too much longer.
My Favorite Christmas Song (Score:2)
SCO's furniture (Score:4, Funny)
Redundant karma whoring (Score:5, Funny)
From http://bash.org/?106579
Topic in #os: hey guyz, stop pickin on irix.
<SCO> w00t! i bought unix! im gonna b so rich!
<novell>
<novell> whoops. was that out loud?
<atnt> rotfl
<ibm> lol
<SCO> why r u laffin at me?
<novell> dude, unix is so 10 years ago. linux is in now.
<SCO> wtf?
<SCO> hey guyz, i bought caldera, I have linux now.
<red_hat> haha, your linux sucks.
<novell> lol
<atnt> lol
<ibm> lol
<SCO> no wayz, i will sell more linux than u!
<ibm> your linux sucks, you should look at SuSE
<SuSE> Ja. Wir bilden gutes Linux für IBM.
<SCO> can we do linux with you?
<SuSE> Ich bin nicht sicher...
<ibm> *cough*
<SuSE> Gut lassen Sie uns vereinigen.
* SuSE is now SuSE[UL]
* SCO is now caldera[UL]
<turbolinux> can we play?
<conectiva> we're bored... we'll go too.
<ibm> sure!
* turbolinux is now turbolinux[UL]
* conectiva is now conectiva[UL]
<ibm> redhat: you should join!
<SuSE[UL]> Ja! Wir sind vereinigtes Linux. Widerstand ist vergeblich.
<red_hat> haha. no.
<red_hat> lamers.
<ibm> what about you debian?
<debian> we'll discuss it and let you know in 5 years.
<caldera[UL]> no one wants my linux!
<turbolinux[UL]> i got owned.
<caldera[UL]> u all tricked me. linux is lame.
* caldera[UL] is now known as SCO
<SCO> i'm going back to unix.
<SGI> yeah! want to do unix with me?
<SCO> haha. no. lamer.
<novell> lol
<ibm> snap!
<SGI>
<SCO> hey, u shut up. im gonna sue u ibm.
<ibm> wtf?
<SCO> yea, you stole all the good stuff from unix.
<red_hat> lol
<SuSE[UL]> heraus laut lachen
<ibm> lol
<SCO> shutup. i'm gonna email all your friends and tell them you suck.
<ibm> go ahead. baby.
<SCO> andandand... i revoke your unix! how do you like that?
<ibm> oh no, you didn't. AIX is forever.
<novell> actually, we still own unix, you can't do that.
<SCO> wtf? we bought it from u.
<novell> whoops. our bad.
<SCO> i own u. haha
<SCO> ibm: give me all your AIX now!
<ibm> whatever. lamer.
* ibm sets mode +b SCO!*@*
* SCO has been kicked from #os (own this.)
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Owns
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Normally I'd vote this kind of story down (Score:2)
But SCO is different. So YAY SLASHDOT! The only thing I'd like to see different is a) for McBride to go to prison for fraud and b) Sony to get delisted.
-mcgrew
Happy nude year! [slashdot.org]
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Hand in your geek license right now. You get it back when you installed a bittorrent client.
Is Darl in jail yet? (Score:4, Insightful)
Then the bad guys won. The fact that they managed to hurt stupid greedy investors more than honest innocent competitors does little to mitigate their victory.
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In fact, as long as the people responsible for this pump'n'dump game are free to enjoy their spoils, this is a loss-loss situation.
The best move they could do now (Score:2, Interesting)
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Just a curiosity... (Score:2)
(OK, Novell may not want it, but anyway)
And in that case - can the board of SCO(X) be held liable for anything? It seems to me that if anything - the board of SCO(X) has at least deceived the share holders.
The only good thing that may come out of this is that it serves as a wakeup-call for investors since they will be a bit more aware that the course taken was bad for business. If I was an investor
I'll liquidate it for them (Score:5, Funny)
Novell doesn't stand to get much more than SCO's furniture,
I'll be happy to liquidate it for them. Imagine being able to sell SCO office furniture on eBay? Along with a certificate of authenticity. Heck, I'd bid on a piece myself. It's like owning a piece of the Titanic of tech history.
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It's the Bush Administration of tech history.
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SCO's new home (Score:3)
SCO's botched endgame (Score:5, Informative)
For those of you who don't follow this mess, SCO voluntarily went into bankruptcy in September, the day before the SCO vs. Novell trial was to start. This stopped that case. For about two months. Novell asked the bankruptcy judge to let their case continue. After frantic maneuvers from SCO, which went nowhere, the bankruptcy judge let the Novell case proceed. It will go to trial in January or February. The only remaining issue there is how much money SCO owes Novell. SCO already lost on the "who owns UNIX copyrights" issue; Novell owns them.
The IBM and Red Hat cases are still pending, so if anybody wants to buy up SCO (the company's entire market cap is only $2.4 million today), they'd be stuck with those potential liabilities, on top of the Novell liability. That's why nobody is snapping up the remains of the company.
Plan on visiting the liquidation auction some time next summer.
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Could the stockholders go after Mcbride and othe SCO executives for mismanagement and such?
Furniture auction on E-Bay... (Score:2)
1) go bankrupt
2) sell furniture on EBay
3) get amazed when Darryl's chair sells for one millllion dollars
4) profit!!!
Look MA, no question marks!
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sco.com and caldera.com domains should have worth (Score:2)
Uh, folks, SCO isn't going anywhere (Score:2)
So no used furniture for Novell, SteveB or anyone else. IANAL, but IIRC on the plus side Chapter 11 doesn't discharge debt
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Was Microsoft behind the curtain or McBride and his gang did it by themselves?
Everyone knows MS was behind the curtain.
If not, let's celebrate the end of SCO.
Why would that make a difference? Lets rejoice in SCO dieing! Let MS run and sneak away, their time is coming. Maybe many years off, but a coming.
If yes, doesn't the Novell-MS agreement stink a bit more now?
Sinks/stinks in real good. Novell isn't going sue one of SCO's biggest backers they have a sourcing agreement with, MS. Real dumb move