SCO Gets A Lifeline; Plans To Continue Quixotic Legal Quest
from the throwing-good-money-after-bad dept
Thought SCO was dead? Yup, you're not the only one. But, with big private equity firms willing to bet huge amounts on questionable intellectual property claims, it really shouldn't be a surprise that one came to SCO's rescue. Stephen Norris Capital Partners has dumped $100 million into SCO, taking the company private. Not surprisingly, a big reason for the lifeline is to continue the company's legal battles. These are the same legal battles that propped up the company's stock and allowed some insiders to cash out -- but which have yet to result in a single significant court win, while racking up numerous losses. SCO has insisted for years that it had various "smoking guns," but went into bankruptcy without revealing a single one. Why is it that suddenly these investors believe the company can actually win a legal battle?
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They haven't dumped any money into SCO yet...and they are only proposing a 5 million dollar investment with a line of credit to be doled out "up to" an additional $95 million. The Bankruptcy court has to approve any such investment, which could actually screw the current creditors out of cash owed to them because the "loans" to SCO would put the investor at the head of the line in front of all other creditors. SCO is like a movie villain that refuses to die.
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Need the losses?
Maybe they need a tax shelter.
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Nah, it can't be that easy
To bypass court ordered obligations. Just declare your company bankrupt, get a friend to loan you some money, and blow off your original obligations???
Sheesh, I'm crazy, but not nearly crazy enough to understand lawyers.
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Suspect
Why would a private equity firm bet on a legal claim that has yielded precious few court victories?
Who doesn't want SCO to go away?
I'd look into that private equity firm and start connecting dots. Microsoft can't be too far away.
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obligatory quote
WHY WAS I PROGRAMMED TO FEEL PAIN
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Even if SCO won... That doesn't really mean people would actually start to use it.
With the overall odds... I would think that money would be 'safer' risked in Vegas.
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Flush
I hear a giant sucking sound!
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Re: Suspect
And, don't forget the Mormon Mafia.
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What else does Stephen Norris Capital Partners invest in? I want to stay clear of them.
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Look into Stephen Norris and guess where it leads? Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud though Norris is now denying his involvment. Guess who Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud is in business with on taking Four Seasons hotel chain private? None other than Bill Gates. Cue sinister music now....
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They never thought they *could* win.
"Why is it that suddenly these investors believe the company can actually win a legal battle?"
They don't and never did. It's not about winning. It's about using the broken IP system to blugdeon others by proxy. Win or lose, it's a cheap way for (someone) to slander and libel the Linux community and get away with it for a penny or two.
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Misspelling in the title
That's not how you spell psychotic.
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Pungent Stench!
I smell the stench of Verbose Capital Investment from an unscrupulous castigating Money Tree.. My Dog could easily trace it to Micro$oft.
666 to Microsoft..
Nukem
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Somewhat Crazy Orangutans
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