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| SCO Forum 2008 Announced by Hunsaker; Where's Darl? - Updated 2Xs |
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Monday, April 07 2008 @ 02:34 PM EDT
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If this isn't the strangest SCO press release yet, I'll eat all 6,000 + 1,000 pages of OOXML (scroll down for the photo). All the country comments, too. Hold the Norway Standards' self justification. That'd be hard to swallow. And anyway, I have standards.Hmm. You are what you eat, they say, so perhaps I'd best retract this offer. But it is strange. First, Jeff Hunsaker, president and CEO COO of SCO Operations, not SCO Group, makes the announcement for the SCO Group, along with Stephen Norris, who is to date nothing to SCO, since the bankruptcy court has yet to approve any involvement by him and may never do so. But where is Darl? He's head of SCO Group, so are things happening inside SCO they aren't telling us or the bankruptcy court? (Note that he's listed as a keynote speaker at
http://www.sco.com/2008forum/agenda.html .)
And second, Hunsaker makes a remarkable statement, that not only will SCO Group announce its new strategy and new management team at SCO Forum 2008, he reveals he has already been traveling about, telling customers about SCO's new direction: "This will be perhaps one of the most significant SCO Forum events in company history," said Jeff Hunsaker, President and Chief Operating Officer of SCO Operations. "We are now anticipating our exit from bankruptcy and charting a new course for the company. Forum will be an excellent opportunity to communicate these developments to our customers and partners, while reaffirming our long-term commitment to them," said Hunsaker. "I have been meeting with customers from around the world over the past few months, and they are very pleased with the strategy and direction of our product roadmap that will be outlined at Forum." Excuse me, but since the rest of us must wait until SCO Forum opens on August 10, is he actually saying he is giving advance inside information to customers about a public company that we, the investing public, and the bankruptcy court, can't yet know about? That doesn't even address the fact that SCO's lawyers just told the bankruptcy court, according to our eyewitnesses, that they have pulled back the reorganization plan and are working on another version, but they might need an extension of time beyond five weeks, because the deal isn't actually struck yet. Is the extension so they can reach August 10 with their plans unrevealed to the general public? How can Norris talk about SCO and say "We" are committed to our customers? This doesn't smell quite right. So... what are they telling these customers that the judge in bankruptcy court and SCO's creditors don't know? Anything we might be interested in? And if they already know, why are they telling the court they don't? And which is the true story? Actually, it seems this year only "current SCO customers and Registered Partners" may register to attend, so maybe we won't learn everything in August even. Love the touch about August 10. That will be the anniversary of the ruling in Utah that dashed all of SCO's litigation fantasies. [ Update: Maureen O'Gara is now telling this tale, after admitting that SCO just told her that the new deal isn't yet finalized: Things are supposedly looking even brighter than before.
The new plan abandons the idea of giving SCO a $95 million line of credit to
draw on to chase its legal anti-Linux ambitions against Novell and IBM et al and
substitutes a straight infusion in support of its Unix and mobile interests as
well as its myriad court cases – and no matter what they tell the bankruptcy
court on or about May 11 when they file the new plan you should probably
consider that legal fund a blank check.
They want blood drawn and heads to roll. One of SCO’s many critics, Al Petrosky, who was at the short 20-minute hearing,
reminded us to tell you that Stephen Norris, the co-founder of the Carlyle Group
and more recently Norris Capital Partners, the billionaire facilitator behind
the deal, is himself a lawyer – and besides all the legal talent he can buy –
should be able to appraise SCO’s case himself. Um. Lovely. Whose heads would that be? Interesting motives. Might some take that as a threat? And interesting bedfellows. Al feeding info to Maureen again, I see. I don't usually link to her, but since she claims this is straight from the horse's mouth, I thought it worth mentioning. (It's here, if you must: http://soa.sys-con.com/author/2390ogaralinuxbusinessweek.htm )
End update.] [ Update 2: Here's what SCO's General Counsel, Ryan Tibbitts, told Provo, Utah's The Daily Herald about the new deal to come: Instead of lending the company $95 million to fund its ongoing litigation with Novell, IBM and others, buying $2 million in SCO stock and paying down $3 million of SCO's prepetition debt, Stephen Norris Capital Partners now wants to buy SCO's assets as part of the new deal, according to SCO General Counsel Ryan Tibbitts, who was at the U.S. Bankruptcy Court hearing in Wilmington, Del., on Wednesday.
"We will not be pursuing the proposed reorganization plan because the terms of the deal are changing. We will have another reorganization plan that's somewhat similar, but tracks whatever the new terms are," Tibbitts said. "We're working with Stephen Norris on a deal that's better for all. Some part of it may be an asset purchase, but we're not at liberty to talk about details yet." *May* be? That's not for sure either, that it will be an asset sale? So what is the new press release about? End Update 2.] Here's the press release in full:
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New Investors and SCO management team will outline company strategy to drive customer and partner opportunities forward
LINDON, Utah, April 7, 2008 /PRNewswire-FirstCall/ -- The SCO Group, Inc., (Pink Sheets: SCOXQ), a leading provider of UNIX(R) software technology and mobile services, today announced that SCO Tec Forum 2008 will be held August 10th - 13th at the Planet Hollywood Resort and Casino in Las Vegas. SCO Forum, in its 22nd consecutive year, is an opportunity for key customers and partners to come together and hear strategy and direction from company executives. Stephen Norris and Mark Robbins of Stephen Norris Capital Partners (SNCP) who together recently committed to sponsor a reorganization plan of The SCO Group Inc. ("SCO"), will be present to speak with customers about their commitment to SCO's UNIX business. Key topics at this year's Forum event will include introduction and demonstration of SCO's virtualization strategy, UNIX product roadmaps and direction from new members of SCO's management team. SCO Tec Forum 2008 will also include many technical breakout sessions and a hands-on training on Day Three.
"This will be perhaps one of the most significant SCO Forum events in company history," said Jeff Hunsaker, President and Chief Operating Officer of SCO Operations. "We are now anticipating our exit from bankruptcy and charting a new course for the company. Forum will be an excellent opportunity to communicate these developments to our customers and partners, while reaffirming our long-term commitment to them," said Hunsaker. "I have been meeting with customers from around the world over the past few months, and they are very pleased with the strategy and direction of our product roadmap that will be outlined at Forum."
"It is important for SCO customers to understand that we are committed to provide them with world-class products and services," said Steve Norris, Chairman of Stephen Norris Capital Partners. "SCO Tec Forum is an important opportunity for my team to get to know SCO's customers and partners better. We have been impressed with the loyalty and commitment we have seen from SCO's customers and partners during our due diligence, and we will reciprocate," said Norris.
SCO Tec Forum 2008 is open to current SCO customers and Registered Partners who may register for the event at http://www.sco.com/2008forum/register.html
About SCO
The SCO Group (PINKSHEETS: SCOXQ.PK) is a leading provider of UNIX software technology and mobile services. SCO offers UnixWare for enterprise applications and SCO OpenServer for small to medium sized businesses. SCO's innovative and reliable solutions help customers grow their businesses everyday. 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. The Me Inc. product line focuses on creating mobile platforms, services and solutions for businesses and enhances the productivity of mobile workers.
Headquartered in Lindon, Utah, SCO has a worldwide network of resellers and developers. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit http://www.sco.com/.
SCO and the associated logos are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries. Microsoft and Windows are trademarks or registered trademarks of Microsoft Corporation.
About SCO Forum
SCO Forum, in its 22nd consecutive year, is an annual technology event hosted by The SCO group in which partners and customers come together to network and share ideas while receiving product roadmaps and direction from company executives. This years Forum 2008 event is exclusive to registered SCO customers and partners. More details will be available soon regarding the specific location, times, agenda and details at http://www.sco.com/.
Forward Looking Statements
The statements contained in this press release regarding (i) the Company's exit from bankruptcy and new course as a company, (ii) the commitment of Stephen Norris Capital Partners to the customers and partners of SCO, and (iii) other statements that are not historical facts, are all forward-looking statements and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks and uncertainties. We wish to advise readers that a number of important factors could cause actual results to differ materially from historical results or those anticipated in such forward-looking statements. These factors include, but are not limited to developments with respect to SNCP's due diligence investigation, the negotiation of definitive agreements with SNCP, financing arrangements, confirmation of a plan of reorganization, the outcomes and developments in our Chapter 11 case, court rulings in the bankruptcy proceedings, the impact of the bankruptcy proceedings or other pending litigation, developments in our litigation, our cash balances and available cash, continued competitive pressure on the Company's operating system products, which could impact the Company's results of operations, adverse developments in and increased or unforeseen legal costs related to the Company's litigation, the inability to devote sufficient resources to the development and marketing of the Company's products, including the Me Inc. mobile services and development platform, and the possibility that customers and companies with whom the Company has formed partnerships will decide to terminate or reduce their relationships with the Company. These and other factors that could cause actual results to differ materially from those anticipated are discussed in more detail in the Company's periodic and current filings with the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended October 31, 2007, Form 10-Q for the quarter ended January 31, 2008, and future filings with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.
The SCO Group, Inc.
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| Authored by: Nick_UK on Monday, April 07 2008 @ 02:39 PM EDT |
Heh. That is all I can do....
Nick[ Reply to This | # ]
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- Darl may have passed on the footgun - Authored by: Anonymous on Monday, April 07 2008 @ 02:57 PM EDT
- SPAM, please delete - Authored by: tyche on Monday, April 07 2008 @ 03:17 PM EDT
- Why does no-one enforce the law agianst spammers? - Authored by: tiger99 on Monday, April 07 2008 @ 06:23 PM EDT
- LibertyReserveProfit - Authored by: grundy on Monday, April 07 2008 @ 06:38 PM EDT
- Argh! Correction! Where is Darl? In Japan or China? - Authored by: Anonymous on Monday, April 07 2008 @ 08:01 PM EDT
- Where is Darl? In Japan and China? - Authored by: Anonymous on Monday, April 07 2008 @ 08:07 PM EDT
- Somewhere in Fantasy Land..... - Authored by: Anonymous on Tuesday, April 08 2008 @ 03:48 AM EDT
- How smart are SNCP? - Authored by: Anonymous on Wednesday, April 09 2008 @ 03:17 PM EDT
- Barracuda Spam Firewall - Authored by: Anonymous on Friday, April 11 2008 @ 07:26 PM EDT
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| Authored by: Anonymous on Monday, April 07 2008 @ 02:50 PM EDT |
"Stephen Norris and Mark Robbins of Stephen Norris Capital Partners (SNCP)
who together recently committed to sponsor a reorganization plan of The SCO
Group Inc. ("SCO")..."
I thought they hadn't yet committed to anything (and even if they did, it's been
withdrawn anyway). I seem to remember something saying they still had to do some
due diligence (which would be wise, methinks).[ Reply to This | # ]
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| Authored by: Ed L. on Monday, April 07 2008 @ 02:54 PM EDT |
| If any. Please provide a clue in the title of your post.
Thanks.
---
The dream of vengeance is the darkest of dark, sad dreams.
-
Stephen R. Donaldson
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| Authored by: Anonymous on Monday, April 07 2008 @ 02:56 PM EDT |
My first thought is that this press release was planned weeks ago, and was put
into the "marketing pipeline" with a planned release date of today,
and then upper manahement and the legal department forgot to tell the marketing
department to cancel the press release after they withdrew the motions.[ Reply to This | # ]
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| Authored by: nsomos on Monday, April 07 2008 @ 02:58 PM EDT |
For a normal organization, it would be most odd.
For SCOG however, it is just another day, another
instance of being economical with truth.
I suppose SCOG might figure as long as one person
does not say the contradictory things, it is not
a lie, but simply misunderstanding. So the lawyers
say one thing, management says another, and odds are
that neither bear close resemblance to reality.
SCOG is beginning to be reminiscent of those
folk (before cell-phones) who you would see
walking around in the park, talking to themselves.
They might make grand plans, and tell themselves
funny jokes. If you would take their word for it,
it is you who are strange for not totally understanding
what they are saying.[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:00 PM EDT |
| Here is the actual press release from Yahoo, quoting the letter to
Microsoft in full. It'd probably be a better choice to link to than the
pay-view WSJ page. (I found it via a neowin.net article) [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:03 PM EDT |
| Something here that hasnt appeared on the radar before; emphasis
added.
Key topics at this year's Forum event will include
introduction and demonstration of SCO's virtualization strategy, UNIX
product roadmaps and direction from new members of SCO's management
team.
Well virtualization is kinda top dog in the fashion
parade at the moment. This might be nothing, world plus dog wants to make the
virtualization pitch these days, or on the other it might be a pointer ...
[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:04 PM EDT |
Excuse me, but since the rest of us must wait until SCO Forum opens
on August 10, is he actually saying he is giving advance inside information to
customers about a public company that we, the investing public, and the
bankruptcy court, can't yet know about?
I work for a publicly
traded company, and they are constantly giving briefings to large customers
about upcoming product versions and other things that are not yet public
information. These customers have signed non-disclosure agreements that state
that they will not disclose the information, nor will they use the information
to trade in my company's stocks. Basically they have become insiders until the
information is released publicly. This is "normal course of business" stuff in
the computer software industry.[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:04 PM EDT |
It is at the Planet Hollywood Resort & Casino. The hotel will pay the $500
registration for the conference if you register at the hotel.
Of note is that SCO has used the Mirage and MGM Grand before. The fact those two
appear on the creditor list may explain why the forum is not there this year.
[ Reply to This | # ]
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| Authored by: overshoot on Monday, April 07 2008 @ 03:09 PM EDT |
| If we're going to play that game, you'll have to recruit Iliad. [ Reply to This | # ]
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| Authored by: overshoot on Monday, April 07 2008 @ 03:16 PM EDT |
| Someone please remind me. Isn't "SCO Operations" the one that's not in
bankruptcy right now?
If so, maybe they transferred the ongoing Unix
business to _operations and just haven't gotten around to telling anyone about
it. [ Reply to This | # ]
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| Authored by: mtew on Monday, April 07 2008 @ 03:21 PM EDT |
They now claim to be 'a leading provider' rather than the 'owner' of UNIX. Do
you think that is a significant move in the direction of reality?
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MTEW[ Reply to This | # ]
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- Eh? - Authored by: Anonymous on Monday, April 07 2008 @ 03:23 PM EDT
- Significant move? - Authored by: Anonymous on Monday, April 07 2008 @ 03:35 PM EDT
- kbalert! n/t - Authored by: Anonymous on Monday, April 07 2008 @ 03:40 PM EDT
- No change! - Authored by: Alan(UK) on Monday, April 07 2008 @ 05:58 PM EDT
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| Authored by: ak on Monday, April 07 2008 @ 03:28 PM EDT |
Monday, August 11,
8:00 am - 9:30 am Keynote - Darl McBride, SCO President & CEO
http://www.sco.com/2008forum/agenda.html[ Reply to This | # ]
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| Authored by: rsi on Monday, April 07 2008 @ 03:32 PM EDT |
I don't see how they can still be in business on August 10th. They should be
bankrupt shortly after the trial in Utah later this month.
The best thing the "New Management" could do is invite IBM, and Novell
to the Lindon offices and hand over the keys. Let them pay off the other
creditors, hand over all the company's records to the DOJ, and the SEC, and
divvy up the IP assets between themselves.
Then make ALL their IP Open Source, both for the benefit of their
"Customers" still stuck using SCO's software, and as fitting payback
to Darl, and the rest of the "Hole in the Wall Gang"! ;^)
Perhaps we all should buy a plot and a stone at the Lindon City Cemetery, for
SCO once this mess is over! ;^)[ Reply to This | # ]
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| Authored by: bb5ch39t on Monday, April 07 2008 @ 03:37 PM EDT |
| "We are now anticipating our exit from bankruptcy and charting a new course
for the company. ...
"I am now anticipating my check from PCH and
charting a new course of self indulgence." Well, I can anticipate
anything that I want to, regardless of the likelihood of it occurring. [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:37 PM EDT |
How are they going to pay for it? Has the judge in the bankruptcy actually
approved this expense? I know the answer is no. Would this be considered an
"ordinary business expense"? Seems to me another way for SCO to waste
Novel's money.
Dan[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 03:39 PM EDT |
What is also interesting is that this type of event usually involves quite a bit
of
expense. Hotels, airfare, booths, press releases. Have they got permission to
even have this event? It is not exactly in the ordinary course of business...[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 04:30 PM EDT |
"These forward-looking statements speak only as of the date on which such
statements are made, and the Company undertakes no obligation to update such
statements to reflect events or circumstances arising after such date."
The whole "Forward Looking Statements" section of today's SCO press
release reads like an open license to lie.
I am sure that the framers of the Private Securities Litigation Reform Act of
1995 did not have SCO in mind when they wrote the law.
http://en.wikipedia.org/wiki/Private_Securities_Litigation_Reform_Act[ Reply to This | # ]
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| Authored by: Alan Bell on Monday, April 07 2008 @ 04:44 PM EDT |
"Microsoft and Windows are trademarks or registered trademarks of Microsoft
Corporation."
Well, yes they are. But why tell us about it in a release that does not mention
those trademarks? Maybe they were mentioned in a draft? Maybe it is
boilerplate?
Seems a bit odd to me.
Perhaps they meant to say:
"UNIX is a registered trademark of The Open Group in the United States and
other countries"[ Reply to This | # ]
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| Authored by: Cassandra on Monday, April 07 2008 @ 04:50 PM EDT |
| Isn't BSF a whole firm of lawyers? So will someone please remind me of
precisely how much headway BSF has made arguing the merits of SCO's case? Which
is a completely different question to asking how much money they have
made from doing it, of course... [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 04:57 PM EDT |
"...We have been impressed with the loyalty and commitment we have seen
from SCO's customers and partners ..." said Norris.
Well, anyone who
is still a customer of SCOX, after what's happened in the last 3 years,
must have a level of loyalty that is scarcely credible. There can't be many
people in the world who take the concept of loyalty to such a level; how many
has Norris found, I wonder?
"Impressed" is putting it mildly. I'd be
staggered, amazed, stupefied, overwhelmed if I met someone with that level of
loyalty and commitment. I'd question their intelligence and perhaps even their
sanity, though. [ Reply to This | # ]
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| Authored by: cbc on Monday, April 07 2008 @ 05:05 PM EDT |
| A place for off-thread comments that are not news picks. [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 05:09 PM EDT |
<blockquote>
"We're working with Stephen Norris on a deal that's better for all. Some
part of it may be an asset purchase, but we're not at liberty to talk about
details yet."
</blockquote>
<p>
Sounds a bit like York the First?
<p>
[ Reply to This | # ]
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| Authored by: tknarr on Monday, April 07 2008 @ 05:10 PM EDT |
I'm sure SCO's management does want blood drawn and heads to roll in the
litigation. The problem seems to be that SCO is in a singularly bad position to
make that happen, while it's opponents seem to be succeeding at those goals
regularly. What's the saying, if wishes were horses then beggars would
ride?
As far as any purchase of SCO's assets, I think the US Trustee has
noted the big stumbling block there: determining which of the things SCO claims
to own really are it's assets and not Novell's. I don't think the
Trustee's going to agree to any deal involving selling off assets unless and
until that's sorted. [ Reply to This | # ]
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| Authored by: JamesK on Monday, April 07 2008 @ 05:39 PM EDT |
Does this mean PJ will be linking to pictures, where we have to find Darl? ;-)
---
This space intentionally left blank.
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| Authored by: Stumbles on Monday, April 07 2008 @ 06:03 PM EDT |
SCO has succeded in finding some more chumps (investors) and erm, ahem, lawyers
that have actually bought into their scam? It must really be true since O'Gara
has a propensity for getting things straight "from the horses mouth. Though
I suspect her ability at recognizing anatomical correctness to be lacking.
---
You can tuna piano but you can't tune a fish.[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 06:06 PM EDT |
"We are now anticipating our exit from bankruptcy and charting a new course
for the company. ...
This wouldn't be a new "chapter" the the company's history would it?
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| Authored by: tiger99 on Monday, April 07 2008 @ 06:20 PM EDT |
| Many of us have wondered, for nearly five years now, what was really going on
with SCO and their seemingly utterly senseless behaviour. A popular theory,
which I still think is likely to be largely true, is that the whole scam was
conducted on behalf of a certain obnoxious third party, to FUD Linux, and
generally do as much damage as possible to anything which attempted to compete
with their illegal Monopoly. Now, this article, and the last but one, are
beginning to identify end-game strategy, and it is looking to be even more
devious than we had imagined. (OK, for the pedants, I do imagine that Gates in
particular has no practical limit to his deviousness. Sadly his software skills
are somewhat more limited.) Now, as yet, there is no clear indication of just
what they are really up to, but it does look to me to be quite clear that the
intention is to obtain a substantial infusion of cash, not from the PIPE Fairy
this time, although I suspect it originates from the same source, so that they
can continue the litigation for as many rounds as may be required to fulfill the
needs of the Puppetmaster. But what we don't, yet, know is how the BK judge
will view these strange events, and I suspect that his view, nor that of the US
Trustee, will not be very favourable. It must seem to be very odd that a company
has deliberately frittered away almost all of their assets in the pursuit of
bogus legal cases, and is now about to get a new lease of life, so it can do
more of the same, without any meaningful business plan, other than a re-hash of
all the nonsense about the alleged value of Unix, and the mobile phone spamming
stuff, etc. But this was planned a long way back, when Darl was shouting his
mouth off about having sufficient funds to take all the legal cases to their
conclusion, when that clearly was not so on the basis of the balance sheet and
the rate of spend. IANAL, but I wonder if creatively engineering a bankrupcy
some way in the future, as part of a business plan on behalf of someone else,
might be illegal, even criminal? Certainly, it must leave the management wide
open for a shareholders class action. I also think that the comment by Gates
the other day about the timescale for their next piece of trashware has some
relevance to all this, but the picture is not quite clear yet. Also, Novell,
Linspire and Xandros, and very misguided people like Miguel, fit into the vile
plan somehow, mostly as disposable pawns. (Darl was such a pawn too, and, I
suspect, is about to find out how disposable he is, as far as the Puppetmaster
is concerned.)
But I think we have to wait a bit for the real plan to be
exposed, and if the BK judge is as astute as he seems to be, and/or has been
talking to Judge Kimball, the plans may yet be foiled, and SCO will be put out
of their misery. But it seems to me that as soon as Novell is over, the IBM and
Red Hat trials need to go ahead urgently, assuming the BK judge can fins a way
of allowing that to happen, as one or both of these may expose what has really
been going on. [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 06:25 PM EDT |
Now that SNCP is coming out and admitting that it is after SCO's 'assets' (and
SCO is willing to sell off its 'assets' - presumably including those belonging
to Novell), I have to ask who is funding SNCP and whether they are acting as an
agent for some unscrupulous monopoly player that cannot afford to be associated
directly with SCO.
I think it's not only possible, but probable.
The 'bailout loan' failed to gain traction. This direct cash infusion to SCO's
lawsuits sounds even riskier. This would have to be an investor that does not
mind losing $100 Million or so.... Only one corporation comes to my mind...[ Reply to This | # ]
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| Authored by: TAZ6416 on Monday, April 07 2008 @ 06:36 PM EDT |
One of SCO’s many critics, Al Petrosky, who was at the short 20-minute
hearing, reminded us to tell you that Stephen Norris, the co-founder of the
Carlyle Group and more recently Norris Capital Partners, the billionaire
facilitator behind the deal, is himself a lawyer.
I have no doubt
Mr Norris is a wealthy man, but this is the first I have read that he's actually
a billionaire.
And if he is a billionaire, why did he have to raise
money from the Middle East, he coudl have put in the $95Million
himself.
Jonathan[ Reply to This | # ]
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| Authored by: Yossarian on Monday, April 07 2008 @ 06:47 PM EDT |
>reminded us to tell you that Stephen Norris, the co-founder
>of the Carlyle Group and more recently Norris Capital
>Partners, the billionaire facilitator behind the deal, is
>himself a lawyer – and besides all the legal talent he can
>buy – should be able to appraise SCO’s case himself.
Maureen O'Gara and her description of Mr. Norris
reminds me the stories about Chuck Norris...
Those who don't play WoW, and miss the joke, see
http://en.wikipedia.org/wiki/Chuck_Norris_Facts
The facts are normally absurd hyperbolic claims about Norris's toughness,
attitude, virility, "alpha-male status", sophistication and
masculinity, for example:
If you can see Chuck Norris, Chuck Norris can see you. If you can't see
Chuck Norris, you may only have seconds to live. [ Reply to This | # ]
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| Authored by: DMF on Monday, April 07 2008 @ 06:57 PM EDT |
..(SNCP) who together ... committed to sponsor a
reorganization plan of ... ("SCO")
According to representation to
the BK, Trustee, et al. nothing had been signed?
Or is "sponsor" the
weasel word?
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| Authored by: Anonymous on Monday, April 07 2008 @ 07:17 PM EDT |
SCO's first trick will be to spend, sell or otherwise dispose of all assets that
may have some future value which IBM/Novell might target when judgment day
arrives. While, at the same time, have a pipeline of ready cash flow to keep the
litigation going piece by piece forever. The object will be to find at what
point IBM, in particular, decide that there will never be any assets to cover
counterclaims and another five years of actions and appeals only serve to waste
IBM's resources which management are obliged to protect. If that doesn't happen
it was still a good shot as a lesson for others.
The second trick is to find a purchaser for IP assets which can then be used as
a basis for a new round of litigation against Linux. This is why SCO needs to
sell Novell's stuff quick and why there will actually be a live buyer. Still, it
might not matter -- the new owner, like SCO, does not actually need to own any
IP to start a lawsuit or two, or a dozen.
And the third trick is to mask all this in some sort of business plan that the
BK court will buy into. The recent press release is advancing this objective.
I can't wait for 2020 season premier of the "SCO Channel" on cable.
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| Authored by: Anonymous on Monday, April 07 2008 @ 07:18 PM EDT |
PJ,
As remote as the possiblity is, I would still recommend against that. You
don't have the little beasties that termites do that permits the digestion of
cellulose. A few pages are one thing, but that stack is just too much. [ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 07:30 PM EDT |
Sell the house before the foreclosure is final. Pay off the bank and get out of
dodge.
Forgot to tell you the roof leaks. The basement leaks. The furnace will run
for about a week. The water heater leaks and can't heat the water above luke
warm. There are holes in the walls too big to patch, and the last tenent took
the bathroom and kitchen fittings. But that's not a problem because the city
has shut off the water because that utility was six months in arrears. The
electric company won't turn power back on until the six months back bills are
paid, and the gas company won't permit the gas be turned back on until the
dwelling is inspected and declared habitable.
Oh yes, there is a state tax lean on the property that must be paid before title
can be transfered, and there is also a civil lean on the property by the
neighbor when they won their lawsuit, but didn't get paid.[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 07:40 PM EDT |
"Behind the scenes, though, McBride said SCO's legal team has unearthed
some details about Kimball rulings that may provide a glimmer of hope for his
company's ongoing fight.
"There's one little tidbit that we came across just a few days ago,"
he said. "Whereas the popular press has said, 'OK, this thing is now over,'
there is an appeal process and the other fact is that if you look inside that
appeals process and you take a microscope and look at the record of Kimball's
summary judgment rulings that have gone to appeals, he gets overturned the vast
majority of the time. It's nearly two-thirds of the time.
That was something I was a little curious about myself.
"This apparently is a [judge] who very regularly, the majority of the time,
gets [overturned] when it goes to the replay booth.
That's the one sort of a news fact that's not out there today that [could]
maybe temper some of this enthusiasm out there" about SCO's troubles.
"He certainly has a dismal record on appeals.""
Ha Ha.[ Reply to This | # ]
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| Authored by: mpg on Monday, April 07 2008 @ 08:14 PM EDT |
PJ says: << How can Norris talk about SCO and say "We" are
committed to our customers? This doesn't smell quite right. >>
I think PJ is reasonably inferring Norris' use of the word "we" in the
quote to mean "SNCP + SCO" and is, also quite reasonably, somewhat
aghast at this.
Nonetheless, if one were so inclined, one *could* read the word "we"
in the quote to just mean "SNCP" -- as in, "we here at SNCP are
committed to helping the customers that are currently SCO's, some day down the
road, should the dice roll the right way".
-mpg
[ Reply to This | # ]
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- "We" - Authored by: Anonymous on Monday, April 07 2008 @ 08:26 PM EDT
- "We" - Authored by: Anonymous on Monday, April 07 2008 @ 08:35 PM EDT
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| Authored by: Anonymous on Monday, April 07 2008 @ 10:11 PM EDT |
My least favourite part:
no matter what they tell the
bankruptcy court
What do we supposed to make of that
statement?
(1) MOG is lying about what SCO told her;
(2) SCO
is lying to MOG to spin the public; or
(3) SCO is going to commit
perjury in a federal court.
These people are going more and more insane
every day.
Frightening. I shudder to read their warped words, not
because I feel threatened by them myself, but because their warped words are too
close a look into their warped minds.
I hate to see that kind of
ugliness.[ Reply to This | # ]
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| Authored by: Anonymous on Monday, April 07 2008 @ 11:20 PM EDT |
Our Bou vie Bou Darl is spinning a wicked web.
Toodles[ Reply to This | # ]
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| Authored by: GLJason on Tuesday, April 08 2008 @ 01:04 AM EDT |
Things are supposedly looking even brighter than
before.
SCO lost all its case against Novell, and the trial is
about to start that will decide exactly how much they owe Novell. IBM has
basically won at every turn and they will be going next. SCO is losing
customers and money, and can't resume their cases against Linux users (which
they would lose I'm sure) until IBM is decided. Bright indeed. This might be a
thin ray of hope they were looking for at least :)
[...] –
and no matter what they tell the bankruptcy court on or about May 11 when they
file the new plan you should probably consider that legal fund a blank
check.
No amount of money will make you win a case when you're
in the wrong. SCO's already had millions upon millions to work with. A blank
check will only get them an appeal, which they'll probably lose. Judge Kimall's
given SCO every opportunity to plead their case and I think has made the right
decisions for the right legal reasons.
They want blood
drawn and heads to roll.
They've wanted that since 2003, the
only heads that have rolled have been their investors', their partners' and
their own.
[...] Stephen Norris, the co-founder of the
Carlyle Group and more recently Norris Capital Partners, the billionaire
facilitator behind the deal, is himself a lawyer – and besides all the legal
talent he can buy – should be able to appraise SCO’s case
himself.
SCO's new investor is [gasp] a lawyer! He must be
right and rulings favorable to SCO should be raining from the sky any
minute!
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| Authored by: Anonymous on Tuesday, April 08 2008 @ 01:41 AM EDT |
I have not gone back to double check, but I think what happened is:
When Al was tearing apart the 95 million plan, I think he probably pointed out
that Noris was a lawyer and should have know the plan was trash.
She then spun that to make it sound like Al gave her info sounding like he was
on SCO's side.
As they say where I come from "I bet al is mad enought to be chewing on
bullits right about now"
Dennis H[ Reply to This | # ]
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| Authored by: ak on Tuesday, April 08 2008 @ 04:19 AM EDT |
PJ wrote:
Al feeding info to Maureen again, I see.
Al
Petrofsky published his mail to Maureen O'Gara on investorvillage.com. This is
the relevant paragraph.
Hi Maureen, ...
By the way, one
interesting fact you might want to report, which I'm surprised SCO has omitted
from its press releases, is that Stephen L. Norris has a law degree, and was a
practicing attorney back in the late 1970s. Presumably that means he is better
able to evaluate the legal aspects of SCO's prospects than were previous key
decision-making figures like SCO's Chairman Ralph Yarro, SCO's President Darl
McBride, Baystar Capital's Managing Member Larry Goldfarb, and JGD Management
(d/b/a York Capital Management)'s Managing Director Charles
Hale.
I would never begin a mail to Maureen O'Gara with "Hi
Maureen" but more important is that Al Petrofsky represents Ralph Yarro and Darl
McBride as people who did not know what they were doing. There is no
factual foundation for such an assumption.
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| Authored by: Anonymous on Tuesday, April 08 2008 @ 04:58 AM EDT |
Just wondering.
Dennis H.
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| Authored by: globularity on Tuesday, April 08 2008 @ 05:24 AM EDT |
AFAIR MOG is on the creditors list, has she been paid, if not why is she doing
more shilling? Of course she may not be a real creditor, just a SCO proxy to put
on the list.
---
Windows vista, a marriage between operating system and trojan horse.[ Reply to This | # ]
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| Authored by: Peter Baker on Tuesday, April 08 2008 @ 07:51 AM EDT |
Let me get this straight: they didn't have a credible resurrection plan, they
didn't manage to pull one together in the ample time they had but they're
asserting they'll have one in the future. They are, in all seriousness,
suggesting there actually still *IS* a business to make plans for.
Mwohahahahaaa.
This case *definitely* needs compulsory drug testing..
---
= P =
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| Authored by: chuck on Friday, April 11 2008 @ 05:19 PM EDT |
For some reason, reading this part just warmed my heart with schadenfreude to
read this in SCO's own press release:
> The SCO Group (PINKSHEETS: SCOXQ.PK)
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