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| SCO Files Financial Statements |
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Tuesday, October 16 2007 @ 11:05 AM EDT
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Those of you who are accountants can help the rest of us with SCO's latest filings. There are a lot of them. The main event is its Financial Statement. Schedules and exhibits galore. I've just gotten them myself, so we can read them together. I do notice immediately that SCO lists a payment [pdf] of $13,500 to Maureen O'Gara's G2 on August 29, 2007 (on page 2). That's a lot of subs. Kidding. I have no idea what it's for. G2 is also listed as a creditor, so whatever it's for, it's not payment in full. SCO expert Gary Pisano got $90,400, for which he is probably thanking his lucky timing stars. Sage Forensic got $47,781, and if that was money spent on detectives, I hope they have to cough it all back up. What a waste of corporate assets, in my book anyway. Darl just got $410,818.76, which I gather includes a bonus of $116,866.00. Stop. You don't think he deserves that money more than Novell? And we find out, I think, the mystery "management employee" being terminated. On the last page of that same PDF, we read that Bert Young and Michael Olson are leaving in October. Olson was paid in the year prior to filing bankruptcy $218,381.82, which includes an independent contractor fee of $60,000 (he isn't off the payroll until October 24), T & E reimbursement of $4,931.86, and a bonus of $15,950.00, and of course we don't know yet what his severance package will be, but it could be up to a year's salary, which in his case is $137,499.96. Young was paid in the same time frame $319,981.76, which includes $47,311.80 for T & E reimbursement. That's a whole lot of pizza. He also got $60,000 in an independent contractor fee, although he is also not yet off the payroll according to this filing, and $47,670.00 as a bonus. His severance package is unknown, but his salary is $169,999.96, which means he's made more this year -- the year of the bankruptcy -- than he would normally make in a nonbankruptcy year. I didn't know you got bonuses for bankruptcy. Wait. I don't know that, do I, how much they made in earlier years? Heaven only knows what they've been making in "T&E reimbursements" and the like. I can't imagine the creditors not challenging all this largesse. Incidentally, Olson and Young are the only names on the lists [PDF] of "all firms or individuals who at the time of the commencement of this case were in possession of the books of account and records of the debtor" and the list of "all bookkeepers and accountants who within two years immediately preceding the filing of the bankruptcy case kept or supervised the keeping of books of account and records of the debtor".
Here are the docket entries: 128 -
Filed & Entered: 10/15/2007
Notice of Hearing (B)
Docket Text: Notice of Hearing Notice of Debtors' Motion for Authorization to (I) Pay Severance and Accrued Benefits to Terminated Employees and (II) Continue Pre-Petition Severance Policy Applicable to All Employees (related document(s)[116], [117], [125] ) Filed by The SCO Group, Inc.. Hearing scheduled for 10/25/2007 at 04:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 10/22/2007. (Attachments: # (1) Exhibit A # (2) Certificate of Service and Service List) (O'Neill, James)
129 -
Filed & Entered: 10/15/2007
Notice of Hearing (B)
Docket Text: Notice of Hearing Notice of Debtors' Motion to File Under Seal Documents and Data Subject to Debtors' Motion for Authorization to (I) Continue Prepetition Severance Policy Applicable to All Employees and (II) Pay Severance and Accrued Benefits to Employees Terminated Postpetition (related document(s)[118], [119], [126] ) Filed by The SCO Group, Inc.. Hearing scheduled for 10/25/2007 at 04:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 10/22/2007. (Attachments: # (1) Exhibit A # (2) Certificate of Service and Service List) (O'Neill, James)
130 -
Filed & Entered: 10/15/2007
Schedules/Statements
Docket Text: Schedules/Statements filed: Sch A, Sch B, Sch D, Sch E, Sch F, Sch G, Sch H, Sum of Schs, Decl Concerning Debtors Schs,. of SCO Operations, Inc. Filed by The SCO Group, Inc.. (Attachments: # (1) Schedule part 2 of 2) (O'Neill, James)
131 -
Filed & Entered: 10/15/2007
Schedules/Statements
Docket Text: Schedules/Statements filed: Stmt of Financial Affairs,. For SCO Operations, Inc. Filed by The SCO Group, Inc.. (Attachments: # (1) SOFA Part 2 of 2) (O'Neill, James)
132 -
Filed & Entered: 10/15/2007
Schedules/Statements
Docket Text: Schedules/Statements filed: Sch A, Sch B, Sch D, Sch E, Sch F, Sch G, Sch H, Sum of Schs, Decl Concerning Debtors Schs,. for The SCO Group, Inc. Filed by The SCO Group, Inc.. (Attachments: # (1) Schedule Part 2 of 3# (2) Schedule Part 3 of 3) (O'Neill, James)
133 -
Filed & Entered: 10/15/2007
Schedules/Statements
Docket Text: Schedules/Statements filed: Stmt of Financial Affairs,. for The SCO Group, Inc. Filed by The SCO Group, Inc.. (O'Neill, James)
Speaking of pizza, you'll notice on this Schedule Part 3 [PDF] that Dominos Pizza is a SCO customer, not the other way around, which is pretty much what you all were guessing. And I see there is a SCO Benelux, in the Netherlands. I wonder what ISP they use. And the insurance covering the executive officers and directors is from XL Specialty Insurance of Stamford, CT. SCO supplies a list of all the products where the copyrights are in question between SCO and Novell on Schedule Part 2. But they say that SCO owns otherwise "all right, title and interest" but we know they didn't get any of the patents under the APA either, so I don't think that is accurate. Maybe there are no patents in any product on the list, and then I guess it would be accurate. Well. Except that X/Open owns the trademark on UNIX and UnixWare too I think. So, what's left to own? Trade secrets? See our Unix Books project if you think there are any left unrevealed from this list. Maybe you can find some, but I think they'd need to be pointed out with specificity to be an asset, when there seems at least a reasonable doubt that any exist. It was SCO's own lawyer who said in open court that there are no trade secrets in Unix. And who am I to contradict? SCO does have patents though. They are listed on page 10 of this filing [PDF], but they are for things unrelated to the Unix materials. There's one for "Systems and Mothods for Providing Distributed Applications and Services for Intelligent Mobile Devices" and another for "Method of Developing, Delivering and Rendering Network Applications" and that kind of thing. I'm sure we can all trust that SCO will responsibly shepherd its patents without disruption to the market. Hardy har. Don't you love patents? They list trademarks they claim on page 11, like trademarks on "SCO" and "OpenLinux" and "Caldera". They do claim Unixware overseas and in the US in Class 9, fewer goods. They have, they say, a trademark in SHOUT and VOTE and ACTION. They list their registered copyrights on page 16, like the ones on documentation, and on page 17 they claim copyrights in Unix System V Release 3.0 - 4.2 and on UnixWare 7 1.3. By the way, MTI is filing for bankruptcy now too. Here's some of the press release: MTI Technology
Corporation announced today that it has reached a
definitive agreement with Zinc Holdings, LLC, a private equity sponsored
investment group, pursuant to which, subject to bankruptcy court approval,
Zinc Holdings will acquire MTI's European operating subsidiaries for
approximately $5.5 million cash at closing. MTI also announced today that,
due primarily to continued operational and financial difficulties
experienced by its U.S. operations, it has filed for bankruptcy protection
pursuant to Chapter 11 of the U.S. Bankruptcy Code. Since the bankruptcy
filing covers MTI only, and not its subsidiaries, MTI expects its European
operating subsidiaries to continue to operate in the ordinary course of
business pending court approval of their sale to Zinc Holdings. The sale of
the European operating subsidiaries is expected to close, pending court
approval and other customary closing conditions, in the fourth quarter of
2007.
Thomas P. Raimondi, MTI's CEO and President, stated "After evaluating
alternatives, we ultimately determined that seeking protection for MTI in
bankruptcy will provide us with the best path to effect the sale of our
corporate assets, including the sale of our European operations, and the
wind down of our operations in an orderly fashion."
MTI also announced that it had entered into a definitive agreement with
Zinc Holdings to provide debtor in possession financing to MTI for a
limited period of time in connection with its bankruptcy proceeding. The
proposed financing is also subject to court approval and customary
conditions. All borrowings by MTI under the financing arrangement will
require the prior approval of The Canopy Group, Inc., MTI's primary
pre-petition secured creditor and a significant stockholder.
In connection with its bankruptcy filing, MTI intends to continue to
cut costs in the United States, including the completion of layoffs of the
majority of its U.S. workforce while seeking a possible buyer or buyers for
all or portions of its remaining assets. Following the completion of any
such sales, MTI intends to liquidate the remainder of its assets in
appropriate bankruptcy proceedings.
MTI does not believe that sufficient funds will be available following
the applicable bankruptcy sales and liquidation to fully satisfy the claims
of its secured and unsecured creditors. As a result, MTI's equity holders
would not receive any funds from the bankruptcy estate. MTI intends to
dissolve following the completion of the applicable bankruptcy proceedings. I'm sure old timers will remember Mr. Raimondi. He resigned from the SCO Board in November of 2004. The famous Forbes story about SCO getting what it wanted included this about MTI: SCO is basically owned and run by The Canopy Group, a Utah firm with investments in dozens of companies. Canopy's chief executive, Ralph J. Yarro III, is chairman of SCO's board of directors and engineered the suit against Microsoft in 1996. Darcy Mott, Canopy's chief financial officer, is another SCO director, along with Thomas Raimondi, chief executive of a Canopy company called MTI Technology. . . .
Canopy companies sometimes share more than a common parent. They form joint ventures and buy and sell one another's stock. Last November SCO formed a joint venture called Volution with Center 7, a Canopy company. In 2000, Caldera sold off part of its business to EBIZ Enterprises, a Texas company in which Canopy holds a controlling interest and whose board boasts three Canopy execs, including Mott, according to SEC filings. Previously, Caldera bought shares in two other Canopy companies, Troll Tech and Lineo, and later wrote off the Troll Tech investment but sold the Lineo shares at a profit, according to SEC filings. In 1999, Caldera sold its own shares to MTI, then bought those shares back last year, according to SEC filings.
What's the point of all this horse trading? McBride says he has no idea, since those deals happened before he joined Caldera. "I wasn't involved in those transactions," he says. Back in the early days, I tracked the insider trading, and you'll find Mr. Raimondi here and MTI's most recent 10K/A here.
Update:
A reader has done Schedule F [PDF] for us as text,
"creditors holding unsecured nonpriority claims", sorted
by dollar value. It differs somewhat from the list of top 20 creditors filed on
Sept 14, 2007 as SCO_CH11-1-B. In particular, BS&F is now owed $515,690, up
from $287,256.
515,690.86 Boies, Schiller & Flexner
500,650.73 AMICI LLC
273,978.00 Fringe benefits
158,973.75 Microsoft Licensing, Inc.
156,466.30 SCO Software (UK), LTD
125,371.24 SCO Group (Germany) GMBH
121,734.40 SCO Group (France) SARL
61,375.91 Novell, Inc. - Royalties
37,881.33 Veritas Software
34,961.52 Hatch James & Dodge
31,389.14 Mirage
30,505.00 Keven McBride
25,788.55 Fujitsu Services
25,302.11 Unisys Corporation
25,302.11 Intel Corporation
25,302.11 HP-Nonstop Royalty Acccounting
24,136.47 SCO Group Canada
21,781.25 KSJ Consulting
20,000.00 E-Trade Financial Corp Services
17,952.50 Boetticher, Hasse, Lohman
15,000.00 Edison Design Group, Inc.
14,902.29 American Express
13,842.00 Hyperion Consulting, Inc.
12,206.79 Strhold Spa
11,664.50 Sun Microsystems, Inc.
11,400.00 Profile Consulting, Inc.
11,400.00 LynnSoft
11,364.82 Shenyang Neusoft Co LTD
10,417.50 4 Front Technologies
10,352.35 Silverman Heller Associates
9,959.00 Tanner & Co.
9,198.72 G. Gervaise Davis, Esq.
8,693.32 Madson & Austin
7,026.79 RandD Strategic Solutions, LLC
6,529.00 Yi Jia
6,529.00 Eric Lee
6,377.89 Jersey Central Power & Light
6,221.00 Sage Forensic Accounting
5,709.54 Sales Synergy Canada
5,696.35 Global Crossing Conferencing
5,496.10 Jeff Hunsaker - Commissions
5,399.67 AMLAW Discovery
5,209.58 Bynari, Inc.
5,000.00 T.C.X. Data
5,000.00 Kent Derricott
5,000.00 IDC West
4,948.83 Landman Corsi Ballain & Ford
4,800.00 Plum Hall
4,706.25 Sykes Global Services Ltd.
4,512.68 Graphik
4,496.10 Richy Anderson - Commissions
4,056.67 Verizon
3,771.33 John Maloy - Commissions
3,000.00 Tech Marketing Ink
2,765.37 Cornerstar
2,665.34 Kelly Services
2,645.00 Nasdaq Stock Market
2,419.46 Insight
2,110.00 Bowne of Los Angeles, Inc.
2,000.00 Main 10
1,946.39 Rochkind, Marc J.
1,850.87 UCN
1,744.40 AT&T
1,622.39 Dorsey & Whitney LLP
1,600.00 Parr Waddoups
1,462.07 UPS
1,445.50 Fillmore Spencer, LLC
1,283.80 PR Newswire
1,223.79 Computershare Trust Company
1,134.09 CCI Network Services
1,090.62 Felix Eisenberg - Commissions
850.70 PREMIER SYSTEMS (PVT) LTD
750.88 Sprint
629.10 Express One
599.40 Darl McBride
500.55 Stealth Insight
500.00 Zenez
438.00 Lexis Nexis
361.19 Qwest
337.50 Mypaperless Office
288.00 World EX
280.00 J. Harrison Colter
250.00 Timpanogos High School
230.04 XO Communications LLC
213.00 Canon Business Solutions
210.00 Computer Associates Intl
198.00 The Canopy Properties
185.50 Kirton & McConkie
185.45 OfficeMax
185.00 Novell Inc.
145.00 Cybersource
130.00 Goodwin Procter LLP
125.12 INFO-QUEST SA
125.00 The Depository Trust Co.
122.15 Filterfresh
113.60 GES
100.00 CUSIP Service Bureau
98.05 Orem City
71.17 T-Mobile
71.16 DHL Express
69.95 Cintas Document Management
61.47 McHugh Milk Co
39.99 Pitney Bowes Purchase Power
28.27 Rocky Mountain Power
21.98 Maxine McCarthy
18.50 The Print Network
1.20 Arch Wireless
Total: $2,533,975.36
Excluding the $427,708.41 owed to SCO subsidiaries in France, Germany, Canada,
and UK, the total is $2,106,266.95.
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| Authored by: Erwan on Tuesday, October 16 2007 @ 11:11 AM EDT |
If any.
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Erwan[ Reply to This | # ]
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- Finanacial Statement - Authored by: Erwan on Tuesday, October 16 2007 @ 11:19 AM EDT
- Corrections here - Authored by: westexe on Tuesday, October 16 2007 @ 11:35 AM EDT
- McBride's bonus - Authored by: Anonymous on Tuesday, October 16 2007 @ 01:49 PM EDT
- "alteranative" in PJ newspick comment - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:16 PM EDT
- Systems and Mothods? - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:37 PM EDT
- Mothods -> Methods - Authored by: ozbird on Tuesday, October 16 2007 @ 05:06 PM EDT
- Broken link to insider trading - Authored by: dwandre on Tuesday, October 16 2007 @ 06:05 PM EDT
- Bert Young "$47,670.00 as a bonus" -> "42,670.000 as a bonus" - Authored by: mattflaschen on Wednesday, October 17 2007 @ 06:26 AM EDT
- Patent link - Authored by: mattflaschen on Wednesday, October 17 2007 @ 06:41 AM EDT
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| Authored by: rc on Tuesday, October 16 2007 @ 11:12 AM EDT |
| and please remember to do all the good things, like reference the subject in the
subject, and link to it if possible.
Thanks!
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rc [ Reply to This | # ]
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- newspics comments here [NT] - Authored by: rc on Tuesday, October 16 2007 @ 11:14 AM EDT
- newspics comments here [NT] - Authored by: Holocene Epoch on Tuesday, October 16 2007 @ 11:59 AM EDT
- OSI Approves Microsoft License Submissions - Authored by: Anonymous on Tuesday, October 16 2007 @ 12:43 PM EDT
- SC 34 Standards Work Grinds to a Halt - Authored by: JamesK on Tuesday, October 16 2007 @ 01:05 PM EDT
- The Asus Laptop -- Moving On, Nothing To See Here - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:14 PM EDT
- Asus eee pc - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:22 PM EDT
- I'm with PJ on this one - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:42 PM EDT
- Not me... - Authored by: bdog on Tuesday, October 16 2007 @ 05:16 PM EDT
- Not me... - Authored by: PJ on Wednesday, October 17 2007 @ 01:25 AM EDT
- Asus eee pc - Authored by: NeilG on Tuesday, October 16 2007 @ 02:59 PM EDT
- Asus eee pc (does not have battery, LCD, & Mesh Network... that OLPC has, but...) - Authored by: Anonymous on Tuesday, October 16 2007 @ 04:40 PM EDT
- Size and weight - Authored by: pogson on Tuesday, October 16 2007 @ 04:45 PM EDT
- Asus eee pc - Authored by: kawabago on Tuesday, October 16 2007 @ 05:20 PM EDT
- Nobel Prize in Economics for Critic of Software Patents - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:05 PM EDT
- 173 000 French students and 40 000 teachers to get Firefox on a USB key - Authored by: Anonymous on Tuesday, October 16 2007 @ 04:14 PM EDT
- # The mystery continues: Why are Windows machines automatically updating themselves? - Authored by: Alan(UK) on Tuesday, October 16 2007 @ 05:03 PM EDT
- Judge Roy Bean alive and well in Texas - Authored by: Anonymous on Tuesday, October 16 2007 @ 06:13 PM EDT
- Copyright reform in Canadian Speech from the Throne - Authored by: Anonymous on Tuesday, October 16 2007 @ 08:28 PM EDT
- Ubuntu 7.10 - Authored by: josmith42 on Tuesday, October 16 2007 @ 10:53 PM EDT
- Ubuntu 7.10 - Authored by: Anonymous on Wednesday, October 17 2007 @ 12:46 AM EDT
- Ubuntu 7.10 - Authored by: Anonymous on Wednesday, October 17 2007 @ 01:02 AM EDT
- Ubuntu 7.10 Upgrade - Authored by: tyche on Wednesday, October 17 2007 @ 02:24 AM EDT
- Ubuntu 7.10 - Authored by: David Gerard on Wednesday, October 17 2007 @ 11:37 AM EDT
- Ubuntu 7.10 - Authored by: Anonymous on Wednesday, October 17 2007 @ 01:09 PM EDT
- "legal services regarding defense of employment related litigation." - Authored by: Anonymous on Thursday, October 18 2007 @ 06:26 AM EDT
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| Authored by: Erwan on Tuesday, October 16 2007 @ 11:12 AM EDT |
Remember to use the preview button if using html tags.
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Erwan[ Reply to This | # ]
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- MTI files for: Chapt. 11 Liquidation - Authored by: Anonymous on Tuesday, October 16 2007 @ 11:42 AM EDT
- Java Runtime 6.1 Update Promotes OpenOffice - Authored by: th80 on Tuesday, October 16 2007 @ 11:56 AM EDT
- OSI approves M$ licenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 12:32 PM EDT
- OT, the Off topic threadCourt Rejects Microsoft, Best Buy Appeal - Authored by: Anonymous on Tuesday, October 16 2007 @ 12:38 PM EDT
- Greed of one does not pay off for the masses - ISO/IEC JTC1 SC 34 Standards "Grinds to a Halt" - Authored by: clark_kent on Tuesday, October 16 2007 @ 01:38 PM EDT
- More on SCO bankruptcy docket: #134..137 - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:14 PM EDT
- Novell layoffs today - Authored by: Detcidda on Tuesday, October 16 2007 @ 06:49 PM EDT
- So, it's really a Y2K problem - Authored by: SpaceLifeForm on Tuesday, October 16 2007 @ 07:32 PM EDT
- Epiq - Authored by: Anonymous on Wednesday, October 17 2007 @ 12:22 AM EDT
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 11:28 AM EDT |
I have come to suspect (speculate) that the outlandish
rate for Client server News and LinuxGram at $595.00
per viewing party (1 ea.) subscriber is a cover for
shill support. There is a warning (threat) at the
bottom of the ClientServer News web page that the
sub. is for one party and one party only. It says
that it is illegal to pass it on to others in any way
what so ever[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 11:54 AM EDT |
Darl McBride seems to spend money like it's someone elses.
Oh
wait...
What kind of car does Darl drive? Why of course, a
shiny new BMW. Does it surprise you, then, that he has large holes in his
pocket? A CEO is supposed to practice fiscal restraint. According to their
filings, he is spending like a lonely depressed housewife. I mean really, if
you plan to properly anticipate a slowdown in earnings, you don't hand out
bonuses like Halloween candy.
He is, undoubtedly, one of the worst,
most dishonest CEO's I've ever had the displeasure of encountering. He should
be listed somewhere as one of the worst CEO's, right up there with Dennis
Kozlowski and Kenneth Lay. Don't forget his sidekick, Robin
Ralph.
[ Reply to This | # ]
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| Authored by: rsteinmetz70112 on Tuesday, October 16 2007 @ 12:06 PM EDT |
A quick Google of Sage Forensic brings up two companies as the first two hits.
Forensic Accounting firm in Utah, specializing in among other things, damages.
A Personal Injury specalist in the 919 area code which is eastern North
Carolina.
I'd bet it was the first one doing some accounting related to the damages Linux
caused to SCO's great business.
---
Rsteinmetz - IANAL therefore my opinions are illegal.
"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 Tuesday, October 16 2007 @ 12:07 PM EDT |
The document shows that SCO has been paying Stealth Insight about $16K to $18K
every month since June. Since Stealth Insight charges $50 for their most
comprehensive background check service, this probably either means that
a) SCO is doing background checks on a LOT of people
or
b) SCO is paying for investigative services significantly over and above those
required for a simple background check.
[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 12:11 PM EDT |
| Jackson Hole Advisors are shown getting a monthly retainer of $5300. Jackson
Hole Advisors is owned by a married couple and operated out of a ranch house.
It main service appears to be promoting stocks to unspecified
investors.
This corresponds to that firms "level 2" service:
LEVEL II STANDARD SERVICE:
Our Level II service is designed to
assist a client who is unsatisfied with their market valuation and is in need of
in-depth interpretive services and strategic market guidance. Our Level II
Service has all of the features of our Standard Service, but with more emphasis
on guidance and assessment in how to proactively effect the valuation dynamic.
After we have sufficient data to determine our clients trading dynamics and have
an understanding of our clients business plan, capital plan, and their
implementation timing we develop a securities strategy to meet their objectives.
The plan includes investor identification profiles and direction, weekly
implementation assessment, and market interpretation guidance. The Level II
service is most often needed when a significant event occurs or will occur or
when the market is incorrectly valuing a client's shares. Our level II service
is designed to provide strategic guidance and analysis to assist management or
investor relations to improve market ownership composition and market valuation
on a hands on basis. Level II Standard Service monthly retainer is $5,250.00
with a six-month contract.
Source:
http://www.jacksonholeadvisors.com/services.php [ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 12:16 PM EDT |
| SCO shows a payment to Ocean Tomo LLC. This oddly named outfit is a "patent
troll" IP marketing conglomerate.
SOURCE:
http://www.oceantomo.com/services.html [ Reply to This | # ]
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| Authored by: capt.Hij on Tuesday, October 16 2007 @ 12:19 PM EDT |
Darl just got $410,818.76, which I gather includes a bonus of
$16,866.00.
This is delicious irony. I remember a time
when Uncle Darl was trying to find out all kinds of information about a certain
blogger saying that it was relevant to his pursuit of justice. Now a certain
blogger is making all kinds of information about Uncle Darl available as the
whole world gets to crawl up all pertinent orifices it might find. I am not sure
what kind of dish this is, but it is being served up cold.
[ Reply to This | # ]
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- Irony.... - Authored by: Pop69 on Tuesday, October 16 2007 @ 03:34 PM EDT
- Irony.... - Authored by: Yossarian on Tuesday, October 16 2007 @ 04:34 PM EDT
- Irony.... - Authored by: Anonymous on Tuesday, October 16 2007 @ 11:39 PM EDT
| |
| Authored by: rsmith on Tuesday, October 16 2007 @ 12:21 PM EDT |
These people certainly get paid very well for driving the company into the
ground!
And why do people who are on the payroll get "indepentant contractor"
fees as well?
SCOG is certainly very good at spending other peoples' money!
---
Intellectual Property is an oxymoron.[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 12:25 PM EDT |
Seems to be that SCO won.
Not SCO the brand or even the company - who are both damaged beyond repair. But
all the people.
The SCO execs won. Methinks Darl could never gotten as quick cash bonuses if
his compensation packages were based on stock and the long term successes of
SCO's legacy unix products.
SCO's backers won. Didn't someone track down something like $86 million of
their funding to some company who enjoyed seeing the courts keep a cloud over
Linux for many years? And now, it seems that same company is <a
href="http://www.groklaw.net/article.php?story=20071011205044141">s
tarting again</a> with another company. If they only have to start one of
these companies a couple times a decade, this is too easy for them.
Linux didn't win. The signal being sent is "Microsoft and friends don't
even have to win a patent suit. Even the most ludicrous bogus claims can
cripple Linux customers."[ Reply to This | # ]
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| Authored by: caladil on Tuesday, October 16 2007 @ 12:37 PM EDT |
| Well, looks like we also get a little insight into Cattleback Holdings from the
133 filing. Page five
shows that this summer SCO transfered patent no. US-6,529,784 to Cattleback.
According to the USPTO, this patent is about a "Method and apparatus for
monitoring computer systems and alerting users of actual or potential system
errors". [ Reply to This | # ]
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- Ah... - Authored by: Anonymous on Tuesday, October 16 2007 @ 12:56 PM EDT
- Windback - Authored by: Anonymous on Tuesday, October 16 2007 @ 01:44 PM EDT
- Cattleback Holdings + US 6,529,784 - Authored by: Sandtreader on Tuesday, October 16 2007 @ 01:29 PM EDT
- Acrylis - Authored by: Anonymous on Tuesday, October 16 2007 @ 05:35 PM EDT
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 12:50 PM EDT |
Darl just got $410,818.76
For that money he destroyed a
viable company. If there were any justice in the world, his salary would be in
the vicinity of minus $410,000.
He also tried to destroy the
Free Software community, but given his lifetime track record of failure, there
was never much danger of his succeeding. [ Reply to This | # ]
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- There ain't no justice!!! - Authored by: The Simulator on Tuesday, October 16 2007 @ 01:36 PM EDT
- Who approves that $410,818.76 ????!!!!! - Authored by: Anonymous on Tuesday, October 16 2007 @ 01:47 PM EDT
- $410,818.76 ????!!!!! - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:23 PM EDT
- The reason is ... - Authored by: DodgeRules on Tuesday, October 16 2007 @ 03:17 PM EDT
- The reason is ... - Authored by: Larry West on Tuesday, October 16 2007 @ 04:19 PM EDT
- The reason is ... - Authored by: Anonymous on Tuesday, October 16 2007 @ 05:43 PM EDT
- PJ - Authored by: Yossarian on Tuesday, October 16 2007 @ 05:47 PM EDT
- PJ - Authored by: Anonymous on Tuesday, October 16 2007 @ 06:38 PM EDT
- PJ - Authored by: stcm on Tuesday, October 16 2007 @ 07:21 PM EDT
- Come on, the guy's family life is suffering - Authored by: Anonymous on Tuesday, October 16 2007 @ 10:34 PM EDT
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 01:01 PM EDT |
| Kent Derricott shows up with a 23,869 payment in two installments. He is a
"celebrity entertainer" for a pyramid sales herb company headquartered in Utah
focused on the Japanese market. This seems curious.
Source:
http://www.synergyworldwide.com/SynergyCorp/Content.aspx?PageID=1920 [ Reply to This | # ]
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| Authored by: glamour_professi on Tuesday, October 16 2007 @ 01:29 PM EDT |
| My comment here is intended to be fairly narrow in scope, sharing my own
experience with travel expenses, from the standpoint of a fairly senior
executive with operational responsibility. I report directly to the CEO of a
business with revenues substantially larger than SCO's.
First, travel
and expenses are not income. They're reimbursements for what was expended
on the company's behalf. Most companies require you to incur expenses on credit
cards that you are obligated to pay for, and then you get reimbursed. That
prevents fraud, like charging a flat screen TV on your expense report that you
keep for personal gain, which would be easy to do if the company paid the credit
card bills directly.
Second, $43,000+ is not a lot of T&E
expenses for a senior executive over the course of a year. Though I share
the same opinion of SCO as most Groklaw'ers, some things are constant between
companies. We should be careful to acknowledge where SCO is in line with
standard practice, so we can focus our efforts on countering SCO where they are
doing the real harm.
In a publicly traded company, the CFO is a
"salesman," "selling" the company to the Wall Street community, to bankers
looking to loan it money, and to numerous other constituents. CFOs of software
companies are also often pressed into service as "executive sponsors" for
critical deals late in the quarter, acting as de facto salesman, doing a
little "executive-to-executive" bonding with counterparts of important sales
prospects.
While SCO's CFO doesn't need to be on the road all that often,
given their small size, it's still reasonable to believe that Mr. Young was on
the road for 30% of his time (i.e., 1.5 days per week). Let's assume he travels
3 days every 2 weeks. 1 airplane ticket at $750 (assume 2 different cities,
not a round trip), 2 nights in a hotel (average $200 per night nationwide,
way more in Boston and New York, for a generic business-class hotel like a
Marriott, not a Four Seasons or Ritz Carlton), transport of $75 per day for
rental car or taxis, 1 business lunch for 4 per trip at $200, and one
business dinner for 8 at $600, and multiply times 20 trips per year and you
get to a number way above $47,000 per year really fast.
Note that I am
not making these numbers up -- they are consistent with what I do personally
when I am traveling to see customers. Big company executives are higher still.
I have a friend who's the CFO of a Fortune 50 company, a household name
worldwide. He travels 18 days a month (out of 21 total workdays), and is
usually in Europe and Asia at least once a month. It wouldn't surprise me if
his corporate card charges were substantially higher than $750,000 per year,
though this is an infinitesimally small portion of the company's revenues
compared to $47,000 out of $10 million for SCO Group.
Third,
management T&E is higher because the most senior guy has to pick up the
check if multiple employees are traveling. One of the oldest tricks in the
book is for my boss to take me out, we run up a huge dinner tab, he has me pay
it on my credit card, then he signs off my expense report. If the most senior
guy picks up the tab, he's accountable to someone who's not in attendance, who
would be expected to have impartial judgment about whether the expense reports
are valid.
I'm pointing all this out because we need to focus our attention
on the fact that the SCO executives' salaries are extremely high given the size
(and success) of the company. By comparison, Red Hat's CFO was paid
(excluding options) cash compensation of just over $500,000 in Red Hat's
most recent fiscal year, for running a company 50x the size of SCO, which is
growing rapidly and which is undergoing constant organizational change (the
CFO's responsibility). Whose stockholders are getting the better deal?
[ Reply to This | # ]
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- Travel expenses - Authored by: Steve Martin on Tuesday, October 16 2007 @ 01:34 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 01:54 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:07 PM EDT
- I bet you planned that a few months in advance, right? - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:20 PM EDT
- Travel expenses - Authored by: JamesK on Tuesday, October 16 2007 @ 02:28 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:57 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:21 PM EDT
- Travel expenses - Authored by: capt.Hij on Tuesday, October 16 2007 @ 03:06 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 03:24 PM EDT
- Your Travel is Cheap! - Authored by: Anonymous on Tuesday, October 16 2007 @ 06:04 PM EDT
- Travel expenses - Authored by: Igrepdou on Wednesday, October 17 2007 @ 03:00 PM EDT
- Was the company you worked for going down the toilet? - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:47 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:51 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 02:59 PM EDT
- Travel expenses - Authored by: Anonymous on Tuesday, October 16 2007 @ 04:02 PM EDT
- Travel expenses - Exception - Authored by: Igrepdou on Wednesday, October 17 2007 @ 01:14 PM EDT
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| Authored by: _Arthur on Tuesday, October 16 2007 @ 02:43 PM EDT |
I can see no payment to Amici/Xexox in the last 12 months.
No payments during the last 3 months would have been "normal" for a
company thethering on the edge of bankruptcy.
Amici archives for SCO (and BS&F) all the IBM and Novell documents. Without
Amici, BS&F and SCO's expert witness cannot press their cases.
How come SCO seemingly decided not to pay Amici several quarters ago ??
How come Amici is the biggest SCO creditor ? Did SCO singled them out long
in advance, and decided not to pay them ??
I cannot make heads or tails of it. Would have made somesense if Amici was
still controlled by BS&F, but it has been sold to Xerox in 2005, if memory
serves.
Any ideas ?
_Arthur[ Reply to This | # ]
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| Authored by: mattflaschen on Tuesday, October 16 2007 @ 07:42 PM EDT |
The SOFA asks, "List all suits and administrative proceedings to which the
debtor is or was a party within one year immediately proceeding the filing of
this bankruptcy case".
SCO checked "None". I sure hope they didn't miss any. Ah, I'm sure
if they did the suits were minor...[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 08:33 PM EDT |
Whenever I got a bonus at work it was because I worked hard or did something
clever for the benefit of the company. So Darl gets a $116,000 for precisely
that reason - there can be no other explanation - for steering the company
successfully into bankrupcy. Now they get a chance to siphon off Novell's
assets, reform the company as a mobile phone solution outfit, renamed, and
reorganised under Darl's leadership.[ Reply to This | # ]
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| Authored by: OutRiders on Tuesday, October 16 2007 @ 08:35 PM EDT |
I don't see any mention of SCO's "Zions Grand Cayman" account. I
guess they don't use it much in their normal course of business.
Knurly
Don't mind the man behind the curtain[ Reply to This | # ]
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| Authored by: Anonymous on Tuesday, October 16 2007 @ 08:53 PM EDT |
He sure has a nice sea front office.
30K a month from Brother Darl sure helps pay the rent.
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| Authored by: Ninthwave on Wednesday, October 17 2007 @ 01:10 AM EDT |
I don't understand this, this has me more depressed than this whole sordid thing
has ever done. I work hard and always have. I am in the lowest paying job I have
had in 10 years with rises not meeting inflation while meeting my metrics and
being considered a company asset. I am in school with a dual major in
Mathematics and Computer Science with a 4.0 but am denied financial aid because
I dropped out 10 years ago. I didn't even get financial aid 10 years ago paid
for it out of my own pocket. I just don't get this life, working hard and doing
good things really doesn't mean anything does it. There is no point people like
this will always take from people like me and there really is nothing we can do
about it is there?
I can't believe these payments. I would get fired for a performance like this.
These people are passing around more than my yearly salary a month to relatives
for services involved in putting good people out of work.
Who spiked the American Kool-Aid supply?
---
I was, I am, I will be.[ Reply to This | # ]
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| Authored by: Anonymous on Wednesday, October 17 2007 @ 02:40 AM EDT |
I've been reading through the filings, making a few notes.
This is where the FBI profilers or CSI lab techs would have recreated the crime
line with graphics.
In my low and slow world the best I can do is role play how folks might sit
around the office and shoot the breeze.
What struck me was the timing of some events.
On page 14 of docket_item-133 (http://www.groklaw.net/pdf/SCOGBK-133.pdf) it
lists the starting date of two subsidiaries.
- - ME, Inc. = 20/Dec/2006
and
- - Cattleback Holding = 16/Jul/2007
Why are these dates interesting?
Well, in April 2005, SCOG filed a trademark application for ME, Inc.
About 19/Sep/2005 they issued a press release, touting ME,Inc as "... an
advanced networking platform, providing feature-rich consumer and business
digital services for smart phones and other intelligent mobile devices. SCO's Me
Inc. digital services platform is being unveiled this week at the DEMO
conference, the technology industry's premier event for the unveiling of
promising new products and services."
So does the business structure make sense? Announce a multi-year development
based on the Vultus technology in 2005, trademark it, sell it, but forget to
create the umbrella subsidiary until Dec 2006?
What happened a few weeks earlier? Well, in the IBM time line, we see that a
number of significant decisions were made in mid-November 2005 that might have
told SCO that their core business assets were at risk, and it was time to
build firewalls between assets. Can we find the key event/action that launched
that effort?
So let's look at Cattleback, formed in July, 2007 and immediately invested with
an asset, US patent 6,529,784
granted March 4, 2003 (see
http://patft.uspto.gov/netacgi/nph-Parser?u=%2Fnetahtml%2Fsrchnum.htm&Sect1=
PTO1&Sect2=HITOFF&p=1&r=1&l=50&f=G&d=PALL&s1=6529784
.PN.&OS=PN/6529784&RS=PN/6529784)
It seems that this asset belongs with ME, Inc., but then again, if ME, Inc is
granted an irrevocable, fully paid license, then I guess you could sell or
license the patent to others.
But this is also the same time frame we see payments made to several law firms,
we see checks made to financial planning firms. People set in motion the
beginnings of the Chapter 11 plans, setting up retirement funds. Things were put
in motion weeks or months before they appeared publicly.
So what happened in June 2007 that made SCOG start planning the funeral? What
other checks and consultations spun out from the decision that the end was near?
The threads are here, to gather an weave.[ Reply to This | # ]
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