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| Canopy-Yarro-Noorda Etc. Statement on Settlement |
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Saturday, March 12 2005 @ 02:42 AM EST
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I received the following press release at 12:41 AM today EST:
March 11, 2005, Lindon, Utah: Ralph Yarro, Darcy Mott and Brent Christensen, and Mrs. and Mrs. Raymond Noorda, The Noorda Family Trust, the Canopy Group, Inc., Canopy’s CEO, William Mustard, Terry Peterson and Val Noorda Kreidel announced today that they have reached an agreement to amicably settle all claims in the pending litigations amongst the parties. Under the agreement, Messrs. Yarro, Mott and Christensen will receive an undisclosed amount of money, and Mr. Yarro will receive Canopy’s shares of SCO stock. Messrs. Yarro, Mott and Christensen have resigned from all positions they held with Canopy and Canopy’s portfolio companies, and they will cease to hold any interest in Canopy. The other terms of the agreement are confidential.
So, there you are. It's official. I believe the word "amicable" to describe the settlement might be a bit over the top, considering how this group of ex-litigants aimed their darts at each others' eyeballs, but it's done now. Settled. And I ask you, who wouldn't want a huge pile of SCO stock?
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| Authored by: NastyGuns on Saturday, March 12 2005 @ 02:53 AM EST |
Please put Off Topic comments here.
Don't forget to use "html" when replying.
Linking format: "<a
href="http://www.example.com">here</a>"
---
NastyGuns,
"If I'm not here, I've gone out to find myself. If I return before I get back,
please keep me here." Unknown.[ Reply to This | # ]
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- Going out on a limb here.. - Authored by: TeflonPenguin on Saturday, March 12 2005 @ 04:17 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 04:40 AM EST
- FFII Update. - Authored by: mpellatt on Saturday, March 12 2005 @ 05:35 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 06:22 AM EST
- FFII Update. - Authored by: DeepBlue on Saturday, March 12 2005 @ 08:42 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 10:30 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 10:38 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 10:49 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 11:09 AM EST
- FFII Update. - Authored by: PJ on Saturday, March 12 2005 @ 09:33 AM EST
- FFII Update. - Authored by: Anonymous on Sunday, March 13 2005 @ 12:41 AM EST
- FFII Update. - Authored by: Anonymous on Saturday, March 12 2005 @ 10:44 AM EST
- CeBIT - Highly Off Topic - Authored by: ChubbyTiger on Saturday, March 12 2005 @ 08:04 AM EST
- Adding comments to the GrokLaw Latest News Picks? - Authored by: Anonymous on Saturday, March 12 2005 @ 10:11 AM EST
- Student Trounces Microsoft Legal Nasties - Authored by: sproggit on Saturday, March 12 2005 @ 11:52 AM EST
- OT: My very own frivolous lawsuit - Authored by: Anonymous on Saturday, March 12 2005 @ 01:24 PM EST
- Off Topic - NastyGuns eyes only! - Authored by: The_Pirate on Saturday, March 12 2005 @ 03:20 PM EST
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| Authored by: Anonymous on Saturday, March 12 2005 @ 03:14 AM EST |
Darl always said he got a farm.
So it could be put to good use.
[ Reply to This | # ]
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| Authored by: dmarker on Saturday, March 12 2005 @ 03:15 AM EST |
Mustard: Hi Ralphie, Hi Boys, nice to meet you again
Yarro: Helloo Mussie, how's it going for you, hope you are having fun ;-)
Mustard: Yes I am, lots to learn & lots to do, anyway lets get down to
business, but first can I get you guys anything, a Starbucks?, a Dunkin D or
anything else ?
Mott: Yeah a latte would go down well, thanks Mussie.
Ray: Where's my hot water bottle ?
Yarro: Hi Ray, Lew how are you ?
Ray: Who ?
Lew: Very well thanks Ralph, how's the new puppy ?
Yarro: He is doing really well, I just love the rottweiler breed, we can learn
so much from them don't you think.
Val: I must admit my love is for a good pit bull.
Lew: I am happy with my Schnudle they don't leave any mess behind them..
Val: But hey guys, good to see you all again. Hope the little troubles of the
past few months are all behind us.
Ray: What troubles ?
Yarro: Of course, here my little lovely come give uncle Ralphie a big kiss you
clever little girl. You did well.
Ray: Hi is that you Ralphie, it looks like you. Hey, Lew I just remebered
something :-)
Lew: Very good dear.
Val: Here's your blanket daddy.
etc: etc: etc:
DSM
(please forgive me, I couldn't resist :-)[ Reply to This | # ]
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- Hi Red Hat - Authored by: Anonymous on Saturday, March 12 2005 @ 04:34 AM EST
- Shrike, why? - Authored by: Anonymous on Saturday, March 12 2005 @ 12:40 PM EST
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| Authored by: edal on Saturday, March 12 2005 @ 04:05 AM EST |
'Mr. Yarro will receive Canopy’s shares of SCO stock'
Oh Boy !! this made me smile. Like many folk I suspect that all of this
(including the SCO law suits) are the fault of Yarrow and now Canopy have their
revenge. Canopy have now lanced the boil on their corporate backside.
Ed Almos
Budapest, Hungary[ Reply to This | # ]
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| Authored by: janolder on Saturday, March 12 2005 @ 04:09 AM EST |
| "Mean" Mister Mustard may have quickly realized that Yarro has a dramatically
exaggerated perception of SCO's worth. Getting Yarro's shares of Canopy for a
bit of cash and tons of toilet paper with the letters 'SCOXE' imprinted on them
may well be Mustard's deal of a lifetime.
Yarro in turn will think that he is
now holding one third of a huge goldmine. Boy will he ever be in for a surprise
when he realizes SCOXE is nothing but a gold painted septic tank.
Win-win all
around: Canopy gets rid of Yarro with no strings attached, Yarro is happy for
the time being and we get to laugh when the house of cards collapses. [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 04:12 AM EST |
Uh Oh, this makes the hair on my back stand up. Lets play out the following
"what if"
What if Noorda's found out that their liability on the SCO fiasco was every
penny they ever owned and more? They would have to come up with some plan to
seperate SCO from Canopy. I am a director. I know I could have thought up
something along the line that has just happened. Create a fuss with the old
management, seperate them and give them all SCO stocks. Then when IBM's claim
hits them try to deflect to Yarro e.a.
I am not a lawyer, but I doubt that it will work. If IBM has a claim on Canopy
they will go down. This all will just delay things more.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 04:49 AM EST |
| Darn -- several days ago, I thought that Ralph getting the SCO shares was going
to be part of the resolution (too bad I didn't post to show how clairevoyant I
am).
It seems that this is driven on Canopy's side by: (i) Canopy's
realization that SCO is (A) worthless to them as an investment and (B) hazardous
to them as an affiliate and (ii) Canopy's desire to set up defenses to "piercing
the corporate veil" liability for SCO's acts (they would try to argue that Ralph
was a rogue employee and that his acts vis-a-vis SCO should not be attributed to
Canopy). While I think it is somewhat tin-foil-hattish, I wouldn't completely
dismiss the possibility that the Ralph/Canopy litigation was pro-wrestling-like
playacting to set up the "rogue employee" argument.
On Ralph's side, I think
control over SCO is more important to him for helping in his attempt to stay out
of jail or massive civil liability than it is for any fancied "Linux Lottery"
pay off. Unless he has some completely unforeseen ace up his sleeve or unless
he is completely delusional, his goal at this point has got to be ride the
litigations out to their predictable losing conclusions while avoiding sanctions
and then tell investors with as straight a face as possible: "Hey, we thought
we had something, we gave it our best shot, but the courts ruled against us, and
in any event, we warned you in our Risk Factors that litigation is inherently
uncertain so don't try to sue us on it." Of course, now that Canopy issues are
off his back, we should watch his, Darl's and SCO's actions closely to see
whether they correspond to the "graceful collapse" theory or the "still
delusional" theory. [ Reply to This | # ]
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| Authored by: johan on Saturday, March 12 2005 @ 05:06 AM EST |
From the press release:
Messrs. Yarro, Mott and Christensen have
resigned from all positions they held with Canopy and Canopy’s portfolio
companies, and they will cease to hold any interest in
Canopy.
Didn't at least Yarro directly own stock in some of the
portfolio companies -- or was that just a part of the canceled 2000
agreement?
It is almost like the press release carefully skips around this
question. Coincidence? [ Reply to This | # ]
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| Authored by: micheal on Saturday, March 12 2005 @ 06:35 AM EST |
Here are some possibilities. Mostly speculation.
Yarro
1. The costs of the lawsuits would be very high, drag on forever (witness SCO VS
IBM), and could be lost. (If Yarro lost the Canopy VS Yarro et al lawsuit he
could end up flat broke and no prospects for future employment.)
2. Future employment by another company. In this case there may be a gradual
withdrawal from association with tSCOg.
3. The money (stock options, trigering events, etc.) would probably be frozen
until the lawsuits are settled.
4. Potential criminal charges ala the backup tapes.
5. Belief that tSCOg really can win case against IBM or get a favorable
settlement from IBM.
6. Yarro really has the best interests of Canopy and Ray Noorda in mind. (He
does not care about the charities. He just wants Canopy and the portfolio
companies to continue to remain in existence. Do not be surprised if we see some
spin along these lines.)
7. Dropping of potential charges against other former staffers.
8. Pressure from the other ex-staffers. (we suspect that one or more were
providing information to the Canopy lawyers.)
9. Pressure from Mott and Christensen.
Mott and Christensen
1. Same as 1. thru 8. for Yarro with the added proviso that Mott and Christensen
received a lot less money then Yarro and are less likely able to afford a good
defense.
2. Pressure from the other ex-staffers.
Canopy
1. Similar to 1. and 2. for Yarro.
2. Distancing Canopy from the SCO VS IBM case.
3. Questionable actions. i.e., claiming that Ray Noorda was competent when he
cast his vote.
4. Interfering with the business of Canopy and the portfolio companies.
5. Receive a percentage of any favorable settlement in the SCO VS IBM case.
(This is the opposite of 2. However, I expect IBM to request a copy of the
settlement.)
Other former staffers.
1. They have to pretty much go along with whatever the above decide. They would
have some influence by the threat of testifying in favor of Canopy.
2. If the settlement does not include them then Canopy would be free to go after
their excessive options. They would probably be able to keep options in and
payments by Canopy that were not excessive.
---
LeRoy -
What a wonderful day.[ Reply to This | # ]
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| Authored by: fudisbad on Saturday, March 12 2005 @ 06:51 AM EST |
Now that Yarro is "holding the bag" (i.e. owns SCOXE shares), I wonder
how he is going to pass the bag on to another person.
The scam artist himself is left holding the bag. Wouldn't that be justice? This
is a brilliant manoeuvre by Mr Mustard, effectively solving all his problems in
one go. (the corporate veil piercing to some extent, the Bitter Canopy Exiles,
the relations with SCOXE, the legal cases, etc).
Since Yarro has a huge share in SCOXE that he cannot get rid of without sending
the share price to $0.01, I've got a funny feeling they will dust off the
Paintblaster® 2000. In this case, Yarro might sell to create the paint (instead
of moving the shares internally). If this happens, we are reasonably close to
the identities of our painters.
Which reminds me, does Yarro have to pay tax on those SCOXE shares?
---
See my bio for copyright details re: this post.
This subliminal message has been brought to you by Microsoft.[ Reply to This | # ]
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| Authored by: Vaino Vaher on Saturday, March 12 2005 @ 07:18 AM EST |
The thing I would like to know ... correction: I need to know! .., is:
- what happened to all of the options issued? Not only to the fabulous three,
but to all the secretaries, janitors and others? Are they cancelled/nulled?
Clearly, some of those people involved will not be welcome back to Canopy; they
sided with the wrong team. If I was one of them I would consider legal action
against those who promised me a pile of wealth for nothing, who made me resign
the position I held and who now leave me with nothing.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 07:54 AM EST |
Disclaimer: I am not a lawyer, nor knowledgable in business. The following is my
opinion based on observations of current events.
To me this seems like a move for Canopy to dis-associate itself from SCO, with
Yarro giving them the easy way out.
From the statements and "feeling" from the lawsuit Noorda didn't want
to give Yarro anything, infact, they wanted his blood.
With that in mind this settlement seems unusual. But there could of been another
motive.
If you listen to SCO, they are money in the bank, and it'd make no sense for
Canopy to get rid of easy money, unless they don't believe SCO.
If Noorda lost confidence in SCO and its lawsuits, they would want to get rid of
SCO before it effected Canopy. Yarro believes in SCO and its suits, so Noorda
decided the easy way to disolve itself from SCO is hand Yarro the keys. Now if
SCO fails, Canopy will get their blood, with clean hand.
What would be interesting is if there are any public records of the Canopy's
board meeting that decided SCO was no-longer to be part of Canopy's portfolio,
to see the reasoning behind it. But then again we may never know.
[ Reply to This | # ]
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| Authored by: mks on Saturday, March 12 2005 @ 08:18 AM EST |
| The whole settlement sounds to me like a tactic to get the Canopy Group out from
under the potential financial bombshell that will be coming once the whole
SCO-IBM thing starts to come to a close. My completely disconnecting itself
from SCO before any convictions or settlements happen they are hoping to not
become a party to them.
I wonder if the Canopy Group started to see this
coming and the whole mess was just their way of getting a legal record of their
dissatisfaction with the whole thing and how they "were not at fault"
Do
not underestimate your opponent lest they best you... [ Reply to This | # ]
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| Authored by: some schmuck on Saturday, March 12 2005 @ 08:34 AM EST |
I see a lot of speculation here and on the Yahoo boards that this is an
indicator that Yarro believes in SCOXE. I'm not sure this is necessarily the
case.
It seems to me he pretty much *has* to say he fully supports
SCOXE's actions, regardless of his actual beliefs, or he's giving the Canopy
folks evidence of his breach of fiduciary duties by running a portfolio company
into the ground.
I believe the phrase is "hoist on his own petard". [ Reply to This | # ]
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| Authored by: MacUser on Saturday, March 12 2005 @ 08:38 AM EST |
Mustard is obliged to maximise Canopy shareholder value -- and that means
all the companies in the portfolio, not merely the one that
engages our attention.
- Sco-related ill will is probably hurting,
or has the potential to hurt, other investments/companies (e.g., Trolltech). So
this settlement could boost the overall value of the investment basket.
- Yarro’s settlement includes a face-saving “leaving to spend
more time with family/pursue exciting opportunities” element, apparently
essential to high-level sackings/settlements these days.
Good
news for the other Canopy companies. And good news for open-source, too, because
on the evidence available Mustard would have been a far more able opponent than
Darl & co. [ Reply to This | # ]
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| Authored by: cc0028 on Saturday, March 12 2005 @ 09:11 AM EST |
| Under the agreement, Messrs. Yarro, Mott and Christensen will receive an
undisclosed amount of money, and Mr. Yarro will receive Canopy's shares of SCO
stock. Messrs. Yarro, Mott and Christensen have resigned from all positions they
held with Canopy and Canopy's portfolio companies, and they will cease to hold
any interest in Canopy.
I'm not very good at this capitalism business,
but does that mean that Messrs Yarro, Mott and Christensen now hold no shares
whatsoever in Canopy? That's quite a lot of equity to part with, isn't
it?
Sorry if this is obvious to everyone else.
Peter
[ Reply to This | # ]
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| Authored by: Ninguino on Saturday, March 12 2005 @ 09:33 AM EST |
Would we see SCO suing Canopy Linux companies anytime soon?
Based on the litigant history of Yarro and McBride, I won’t discard it. I wonder
if there is anything in the settlement covering that possibility (licenses?)
[ Reply to This | # ]
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| Authored by: Latesigner on Saturday, March 12 2005 @ 09:48 AM EST |
SCO has just been hung around Yarro's neck like the albatross.
Mean Mr. Mustard has a sense of humor.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 10:14 AM EST |
If Yarro is now so invested in SCO, he invests more money into them, or
solicites money from the likes of MS?[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 10:21 AM EST |
| Somehow I am reminded of nothing so much as a scene from Terry Pratchett's
"Mort". Death (or rather his apprentice) has arrived to officiate at the demise
of an important personage in a vaguely oriental kingdom, ruled theoretically by
an Emperor but really by a Grand Vizier (never trust a Grand Vizier). He
arrives to find the two of them passing a (purportedly) particularly choice
morsel of food back and forth in an argument over who should eat it. The Vizier
suggests that he is unworthy of such an honor, and presses it on the Emperor,
while the Emperor insists that he be permitted to bestow a reward upon his loyal
servant. Of course, the meat in question is poisoned and both realize it (as
does Mort, who yells "somebody eat it, for heaven's sake! I'm in a
hurry!").
In the end, the Emperor's argument carries the day, with the aid
of some large and heavily-armed men, and the Vizier swallows the meat, bestows
somewhat forced praises on the chef and the Emperor, and drops
dead.
Analogies to the present situation are left as an exercise to the
reader. [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 10:44 AM EST |
Well, a pile of SCOXE stock would be worthless to me. But it's now Ralph's toy.
And perhaps, since he can be directly enriched, it's time to sell the Unix part
of the business to someone else (after all, it's "cash positive" and
has
customers) and leave the litigation and SCOSource in the otherwise empty
hull of SCOXE. He monetizes his stock. I'm guessing that due to the poison
pill provision SCOG put in place late in 2004, Darl et al make out well because
of the change of ownership.
But, who would buy SCO-nix? I think the phrase "the usual supsects"
will
serve well here. It has to be somebody for whom a 50 million purchase is too
small for shareholders to scrutinize.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 10:46 AM EST |
I predict now that Ray Noorda and Canopy are out of the picture the umpires will
be less inclined to use their discretion in calls that favor SCO.[ Reply to This | # ]
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| Authored by: Jude on Saturday, March 12 2005 @ 10:55 AM EST |
I looks like Yarro ends up holding a big chunk of SCO stock, and as such will
have a lot to say about how the spoils (if any) of SCO's adventures in
litigation are distributed.
You might want to look at how the loot got divvied up back at Canopy: In every
one of those shady deals, Yarro got a far bigger share of the loot than everyone
else put together. If SCO defies the odds and hits paydirt in court, I think
you can expect Yarro to glom as much of the loot as possible for himself.
Of course, he'd have to care for the other stockholders as well, but he gets the
most money himself by maximizing the payout to stockholders. I doubt there
would be much left over to give to mere executives who don't happen to hold
large chunks of stock. Too bad.
Of course, you could always try to get your fair share by suing SCO.
[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 11:53 AM EST |
I really don't get this "HA HA Yarro is stuck with scoxe stock"
sentiment.
If yarro gets away with all this, without going to prision, yarro will have
scored *BIG* time.
Even at $0.50 a share, 5MM scoxe shares are worth $2.5MM, not bad for 2.5 years
"work." And don't forgot about the undisclosed cash settlement. And
all the big fat multi-million dollar "bonuses" yarro awarded himself.
Plus whatever compensation Yarro recieved. KA-CHING!! KA-CHING!! KA-CHING!!
Yarro has made many many millions from this little scam. Who says crime doesn't
pay? Seems to pay a lot better than honest work. In Utah anyway.
[ Reply to This | # ]
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| Authored by: kawabago on Saturday, March 12 2005 @ 12:02 PM EST |
That tells us what the Noorda's think of the SCO strategy! Does this mean that
Darl didn't even come up with the SCO business plan on his own? Was this
brilliant plan to pump and dump actually Yarro's handiwork? At least when the
cell doors close, Yarro will be getting his share of rewards too!
---
Life is funnier from the far end.[ Reply to This | # ]
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| Authored by: Tufty on Saturday, March 12 2005 @ 12:44 PM EST |
I don't know. I feel that IBM would not want to be seen going after the Noordas,
Canopy may be a different matter but they are so intertwined that it may be a
hard call. I expect Mustard is looking to how IBM can be placated and there is
much more likelyhood of a settlement in that area than SCO. Perhaps some very
quiet feelers have already gone out to the Nazgul already. Yarro's head on a
platter may be a peace offering.
IBM will not settle SCO. They want to make sure NOBODY will EVER do that again.
They want their playing field clear so they can get on with business. Yarro now
has a reason to fight to the end. He can't sell the shares, they are going down
with him. He is out of the other companies so it's SCO or nothing so IBM will be
moving for the latter. I think SCO v IBM is going to get a lot meaner, nastier
and drawn out. It's SCO's only hope for revenue since their sales will suffer,
who wants to buy from a commpany in terminal decline that is duking it out with
a mad elephant.
Actually I think that some of the SCO technical staff are probably safe. IBM
will want to pick up the customer base and will need support personel who are
familiar with the produbt. After it will be a conversion to AIX and Linux.
OK, that's my thoughts. Rip them away.
---
There has to be a rabbit down this rabbit hole somewhere![ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 12:52 PM EST |
[From Yahoo Finance]
>> So, do we take this to mean that Ralphie gets some or all of Canopy's
SCO shares?
> It sure reads that way. Would be beneficial to Canopy such an arrangement.
Since Yarro is probably still a true believer in TSG's chances, he might well
have bit on that bait too.
I am not so sure. Ralph certainly "believed" that if he brought a
nuisance lawsuit against IBM they would buy him out or pay a large sum for
settlement, just like Microsoft did in the Dr. DOS case. He was still high on
the MS settlement money when he cooked up this scheme. The plan as we know
backfired.
Ralph is the chairman of the SCO board. He knows the games that SCO is playing.
He knows SCO had no incriminating evidence against IBM. He knows that judge
knows that and the media knows that and now the rest of the world is finding
out.
There are a couple of reasons I can think of why he took the SCO shares:
- He is not really in a bargaining position. And Mustard did not want to deal
with the SCO mess, NASDAQ hearings, SEC investigations, the pending lawsuits and
the ones certain to follow. Ralphie got stuck with them and now he has to reap
what he sowed.
- Ralphie really did not want Mustard getting deep into SCO mess with his
"cleaner" style operation and finding out all the dirty little games
that SCO gang has been playing. There was a good possiblity of him and his buddy
Darl and others getting some quality jail time.
- Darl really did not like the idea of facing Mustard with his hand stuck in the
cookie jar. He may have even dropped a few threatening hints to Ralphie. If
Ralphie didn't settle with Mustard in a way that kept Mustard away from SCO then
"We're going down and we're ALL going down".
Ralph getting SCO stock is truly poetic justice. Previously the scammers were
robbing the investors blind. Ralph was an investor but it wasn't technically his
money. Plan A (payout from IBM) didn't work. Plan B (rob the investors) was in
full gear and now this happens. SCO shares may be all Ralphie got. May have even
had to return his other cash loot and pay taxes on this stock grant.
Now the tables have turned. Now Ralphie probably wants to *save* the investor's
(his personal) money in SCO. Its gotta to hurt to see your personal money going
to lawyers in return for *nothing*. He may eventually let Darl go. Surely Darl
"wants to spend time with his family". Bring in a new guy who whispers
that the whole mess is Darl's fault, apologizes to the Linux community and then
proceeds to lay off most all employees and attempt to settle all current cases.
If this plan works then the investors can split whatever cash SCO has left among
themselves and go home. The key here for Ralphie is stop the cash bleeding as
soon as possible.
If the plan does not work, if IBM and others do not want to settle then Ralphie
boy is stuck between a rock and a hard place. He is going to have to fight this
until all his cash runs out and then IBM will *own* him. He is really hoping
that this does not happen.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 01:18 PM EST |
I hope this means Darl starts to run his mouth again. I really miss his
"insight". We have not had a good lie^H^H^H statement from him for
months.
[ Reply to This | # ]
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| Authored by: rsteinmetz70112 on Saturday, March 12 2005 @ 01:49 PM EST |
I think Canopy will make a seperate peace with IBM, providing them with
cooperation in exchange for IBM not sueing Canopy. Given that Yarro was fired
quite pubically any attack by IBM on Canopy is probably seriously weakened and
the defense is laid out in the Vanpy - Yarro papers.
IBM may not be that interested in going after Canopy, they may want only to
clear up the Linux issue.
---
Rsteinmetz
"I could be wrong now, but I don't think so."
Randy Newman - The Title Theme from Monk[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 02:22 PM EST |
Well, that seals up additional funding for SCO to continue the battle. Yarro
likes this approach so there's no way SCO will go away now before the lawsuit is
complete. So now Yarro is the majority stakeholder in SCO, just like that. And
the Noorda's divorce themselves from SCO, just like that.
Guess Darl knows where his bread is buttered.[ Reply to This | # ]
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| Authored by: DannyB on Saturday, March 12 2005 @ 02:25 PM EST |
Point out misteaks here so that SCO trolls can find them.
And I ask
you, who wouldn't want a huge pile of SCO stock?
You left out the
word "steaming", I think.---
The price of freedom is eternal litigation. [ Reply to This | # ]
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| Authored by: jim Reiter on Saturday, March 12 2005 @ 02:42 PM EST |
This is the first case I am aware of, of rats climbing on
board a sinking ship.
Watch for a MOG/Yarro exclusive interview and a DiDio
statement saying that this is a positive move for TSG.
[ Reply to This | # ]
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| Authored by: webster on Saturday, March 12 2005 @ 02:55 PM EST |
....that would trigger the payoffs to SCO executives? Ironically Yarro voted it
in case he lost control. This would put him at odds with Darl. I suspect they
worked this out before the settlement.
---
webster[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 03:06 PM EST |
I'm not sure why, but I have this strange feeling that SCO knows somthing that
we don't. The question is what could it be.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 03:20 PM EST |
"And I ask you, who wouldn't want a huge pile of SCO stock? "
This reminds me of that Gilbert and Sullivan song line "let the punishment
fit the crime."[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 03:44 PM EST |
One advantage of giving Yarro all the SCO stock is that Canopy will not be
responsible for any stunts SCO pulls in the future. [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 04:00 PM EST |
``And I ask you, who wouldn't want a huge pile of SCO
stock?''
Ooh, I might! Spring's coming and I might be able
to shred it for mulch. [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 04:04 PM EST |
Ralph Yarro has an estimated net worth of only $35
million dollars. We should nominate him for Business
Bumbler of the decade. He'll never succeed at that
rate.
Probably knows nothing at all about the business
world. $35 million is pocket change to most of us.[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 04:21 PM EST |
"Under the agreement, Messrs. Yarro, Mott and Christensen will receive an
undisclosed amount of money"
Like one dollar each? I wonder if we will eventually learn the amound from SEC
filings. [ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 05:11 PM EST |
Just following up on my previous meanderings back in this thread...
http://www.groklaw.net/article.php?story=20050212083241599#c2755
Tidbits in this case support my theory that Ralph was the mastermind behind the
SCO -vs- IBM fiaSCO, so let me connect some of them with a little more
not-entirely-tinfoil-hat musings...
Note: As my interest is SCO-IBM, all references to Canopy or other parties here
are generic to mean Balagh, Kriedel, Mustard, et. al; whoever had enough
authority & power to direct (or ignore) events, and take action (or not).
I'm not really interested in all the details of Canopy.
So:
Late '90's; the Noordas are becoming less than fully capable of managing their
empire. Ralph smells opportunity.
Ralph begins stacking Canopy. Starts bringing in accomplices in key positions
(legal & finance), and re-writing the compensation plan.
The Dr-Dos deal creates a new opportunity and a nice bonus all at the same time.
Ralph gets himself made Chairman of the board, and makes SCO his HQ.
Ralph, looking ahead to eventual Noorda demise, starts trying to acquire
majority interest in Canopy, acquiring majority shares and redirecting things
away from the trust which would turn everything over to LDS.
Although his Canopy shenanigans are netting big bucks, as long as Noordas are
still around he can't become king, but his own little empire (SCO) isn't doing
so well.
Launches SCO-IBM scam to generate a buyout, but IBM refuses to play along.
Canopy not unaware of the shenanigans. Ralph is obviously playing fast &
loose with Canopy, however Canopy willing to overlook much of his tampering as
long as its profitable. Other parties however (NFT, Angel Partners) are taking a
not-so-forgiving interest.
Peterson et. al. are concerned about diminishing returns to Angel.
Balagh & Co brought in to take a closer look. Canopy starts to realize the
extent of the problem.
Ralph is put on notice either in late 2004 or early 2004 that he's being
watched. This presumably means he was watched much earlier, but that it became
serious enough to become official sometime in 2003.
Even though he knows he's under suspicion, Ralph can't straighten up because IBM
is a problem. Canopy by now aware that the SCO litigation is a sham. Still
willing to play along though, since the court seems to keep helping out.
DC case bombs bigtime. Novell case mostly gutted & on its way to bombed.
Canopy steps up pressure. Gun is at Ralph's head & cocked. Better be some
positive news soon or else.
Kimball delivers PSJ decision, favorable (sort-of) but with scathing comments
about strength of SCO's evidence & case. Obvious now that horse is dead and
futher flogging is nothing but play acting.
Canopy pulls trigger. Ralph & buddies out. Mustard in. Housecleaning
underway. Accusations fly.
Settlement; SCO is all Ralph's baby. Ralph was loose cannon. No more. Canopy
washing hands of both Ralph & SCO.
Probable future:
Canopy veil likely off re SCO, no need to pierce. Canopy has too much other
business they'd like to keep confidential, so probably at this point IBM has
only to ask.
SCO stock soon to be worthless. Parent company's complete lack of faith in suit
has got to be a message to even the most hard-core fans.
Lilely major infighting at SCO, as Ralph, Darl & cronies all try for as big
a piece of the remaining cash as they can get.
Litigation will be mostly abandoned except for minimum necessary action to delay
until cash is gone.
Darl & friends will try to save own skins by joining Canopy in pointing
fingers at Ralph.
Fun stuff to watch coming up:
SEC hearing in light of recent major changes in SCO stock ownership. (I don't
generally follow the stock market, but this seems like an unusual amount of
action on an "E" listing)
Reactions from the recipients of several IBM subpoenas who may have just figured
out that Ralph & Canopy aren't going to offer much indemnity (just had to
get that word in there...)
Upcoming motions by parties in all SCO legal actions (if I was any of those
legal teams I'd certainly be applying some pressure right now)
Applied spin by Didiot, MOG, et. al. (or notable absence thereof...)
Changes in Al Petrofsky's hair-loss rate.
Pretenderle article explaining how this is all IBM's fault.
Grab your popcorn now, folks, you don't want to miss the closing scenes!
[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, March 12 2005 @ 09:47 PM EST |
The statement doesn't say anything about Ralph & Co leaving Angel Partners
and the NFT. I presume the Nordas doen't want him involved in those entities
either but right now there is no word on anything changing there. These were not
Canopy companies.
[ Reply to This | # ]
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| Authored by: Anonymous on Sunday, March 13 2005 @ 03:52 AM EST |
The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) generally
requires persons acquiring a significant amount of stock or assets of a company
to file an application listing, among other things, the terms of the
acquisition. Also, I believe that Securities Exchange Act of 1934 Schedule
13D-G requires acquirers of more than 10% of a company to describe the terms of
the acquisitiont and any related agreements. Thus, persons interested in the
Yarro settlement terms and his acquisition of SCO shares should keep an eye out
for these documents. The 13D-G should be available on the SEC's EDGAR website
(probably under Ralph Yarro's name rather than under SCO) but I do not know
whether an HSR filing would generally be available online -- someone might have
to file a Freedom of Information Act (FOIA) request) with the Federal Trade
Commission or Justice Department (I forget who has primary jurisdiction over HSR
-- I would guess FTC). Unfortunately, the lawyers of the world have become
adept at responding to these forms while providing the minimal amount of
information.[ Reply to This | # ]
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| Authored by: Anonymous on Sunday, March 13 2005 @ 02:23 PM EST |
->I received the following press release at 12:41 AM today EST ...
You must have missed the comment posted by new user Anthony Kaye. It was
attached to the "Canopy Settlement Terms Will Be Confidential & More
Docs" story on Friday, March 11 2005 @ 07:38 PM EST. google "anthony
kaye" and canopy.[ Reply to This | # ]
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| Authored by: Anonymous on Sunday, March 13 2005 @ 04:34 PM EST |
"And I ask you, who wouldn't want a huge pile of SCO stock?"
So Canopy didn't say to Yarro, "If you drop your suit against us, we will
give you a bunch of SCO stock."
Instead Canopy said to Yarro, "You better take all our SCO stock, or we
will sue you."
[ Reply to This | # ]
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