[ale] It might be too late to sell your SCOX stock

Mon Sep 17 14:54:24 EDT 2007

Umm, except that in this case it's not a legal judgement, exactly. SCO is
afraid that the court will decide that the money they collected from
Microsoft and Sun is in fact Novell's money. That's different from deciding
that they should pay Novell damages over something. That decision would put
Novell considerably toward the front in the line of creditors. CF Groklaw
( http://www.groklaw.net/article.php?story=20070915093130746 )

Per Ms. PJ:

Keep in mind that Novell has already gotten a ruling from the Utah court
that SCO is liable for conversion back on August 10. That money, whatever
the amount eventually proves to be, is not a debt, I don't reckon.

-- CHS

On 9/17/07, Jeff Lightner <jlightner at water.com> wrote:
>
> Reorganization allows you to NOT pay obligations at full value.
> Creditors might get pennies on the dollar (or nothing).   A legal
> judgment is an "unsecured" debt so has less standing in bankruptcy court
> than the other "debts".
>
> The reason Lorenzo at Continental and Eastern filed bankruptcy (twice on
> the former) was specifically so he could get out from under debts and
> contracts.
>
> -----Original Message-----
> From: ale-bounces at ale.org [mailto:ale-bounces at ale.org] On Behalf Of
> James P. Kinney III
> Sent: Monday, September 17, 2007 2:28 PM
> To: Atlanta Linux Enthusiasts
> Subject: RE: [ale] It might be too late to sell your SCOX stock
>
> SCO's net worth is less than what they owe Novell for back payments of
> Unix name licensing. With no product to peddle either, the Chapter 11 is
> just a time delay before the liquidation.
>
> I call dibs on McBrides desk!
>
> On Mon, 2007-09-17 at 13:39 -0400, Jeff Lightner wrote:
> > My point wasn't that SCO isn't doing badly but rather that Chapter 11
> > doesn't mean it has gone under or that it necessarily will do so.
> >
> > An example of a company that survived bankruptcy once but later went
> > under on doing it a second time was Continental.   However the second
> > time was more than 7 years after the first time so anyone who had
> > counted it out the first time would have been premature in that
> > assessment.
> >
> > Personally I can't see SCO being viable even ignoring the lawsuit
> mainly
> > because there doesn't seem to be much reason to buy a PC compatible
> UNIX
> > variant in a world where there are so many free *nix alternatives.
> > Even for commercial purposes one has RedHat and Suse Linux with broad
> > 3rd party vendor (e.g. Oracle) product availability.
> >
> >
> > -----Original Message-----
> > From: ale-bounces at ale.org [mailto:ale-bounces at ale.org] On Behalf Of
> > Thompson Freeman
> > Sent: Monday, September 17, 2007 12:56 PM
> > To: Atlanta Linux Enthusiasts
> > Subject: Re: [ale] It might be too late to sell your SCOX stock
> >
> >
> > Not that it is important, but you can add US Air to that
> > list of Chapter 11 survivors. Twice I think.
> >
> > On 09/17/2007 12:41:50 PM, William Fragakis wrote:
> > > OTOH, if memory serves correctly, Eastern, Pan Am, TWA,
> > > Braniff all
> > > filed Chapter 11, too. Sometimes, Chapter 11 allows for a
> > > genuine
> > > restructuring. Other times, it postpones the inevitable
> > > and isn't much
> > > more than wishful thinking, especially when the underlying
> > > business
> > > model doesn't work.
> > >
> > > One might be tempted to say that SCO's primary business
> > > model evaporated
> > > in court.
> > >
> > > regards,
> > > William
> > >
> > > On Mon, 2007-09-17 at 10:45 -0400, Jeff Lightner wrote:
> > > > Guess again - Chapter 11 is "reorganization" not
> > > "liquidation" meaning
> > > > SCO still expects to be around but wants protection from
> > > creditors while
> > > > it reorganizes.
> > > >
> > > > The biggest recent local example of a successful
> > > emergence from Chapter
> > > > 11 is Delta Airlines.
> > > >
> > > > -----Original Message-----
> > > > From: ale-bounces at ale.org [mailto:ale-bounces at ale.org]
> > > On Behalf Of
> > > > James P. Kinney III
> > > > Sent: Monday, September 17, 2007 10:19 AM
> > > > To: Atlanta Linux Enthusiasts
> > > > Subject: Re: [ale] It might be too late to sell your
> > > SCOX stock
> > > >
> > > > ...not with a bang but a whimper... Couldn't happen to a
> > > more deserving
> > > > board of directors.
> > > >
> > > > Nice to see SGI has recovered from their $0.03/share in
> > > 2006 back up to
> > > > $21.
> > > >
> > > > At the moment, SCOX is $0.25
> > > >
> > > > Sounds like rushing wind from a falling body...
> > > >
> > > > On Mon, 2007-09-17 at 10:04 -0400, Charles Shapiro
> > > wrote:
> > > > > SCO filed for  Chapter 11 bankruptcy protection on
> > > Friday afternoon.
> > > > >
> > > > > I'm so sorry to see this drama wind down to its
> > > inevitable conclusion.
> > > > >
> > > > > SCOX:0.37
> > > > >
> > > > > -- CHS
> > > > >
> > > > >
> > > > > --
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> James P. Kinney III
> CEO & Director of Engineering
> Local Net Solutions,LLC
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