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Elliot Associates' worrisome Novell plans

Mar 04, 2010, 16:03 (9 Talkback[s])
(Other stories by Steven J. Vaughan-Nichols)

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"Elliot Associates is best known as a 'vulture fund.' They don't make investments to turn companies around. They make investments to crush the cash out of them and then leave the picked over bones for someone else to pick up.

"In Novell's case, they won't have to look far for the money. Novell has been cash rich for years. Even now, after some mediocre quarters, the company still has $991-million in cash and equivalents (PDF Link). These funds are just sitting there ripe for the picking by a group like Elliot Associates."

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