Linux Online: The SCO Ship Is Listing
Dec 13, 2003, 05:30 (12 Talkback[s])
(Other stories by Michael J. Jordan)
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[ Thanks to Lucas
for this link. ]
"I'm sure that back in late winter, Darl McBride felt confident
that SCO would be quickly bought out or some sort of settlement
would be reached with IBM. Back then, their catch phrase was 'Damn
the torpedoes, full speed ahead.' Now, after a very large torpedo
was fired by a Utah Court, we're seeing rats abandoning a ship that
is surely destined to sink. What a difference two winters make.
This one is shaping up to be the winter of SCO's discontent.
"Monday, The Royal Bank of Canada, to avoid getting royally
chiseled, (for lack of a more descriptive word) revised the terms
of its capital-injecting contract, as did BayStar Capital, another
of SCO's fair-weather friends. They can now veto that lovely 20
percent that David Boies, et al get if SCO were to win or be bought
out. A Royal Bank spokesman was coy, only commenting that their
investment in SCO was "made to hedge an economic exposure resulting
from client transactions." While I'm still waiting for the
plain-English translation from a Wall St. friend of mine, I think
you'll notice the key word 'hedge' in the statement..."