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

James P. Kinney III jkinney at localnetsolutions.com
Mon Sep 17 14:58:34 EDT 2007 

I _Still_ call dibs on the desk!

On Mon, 2007-09-17 at 14:41 -0400, Jeff Lightner 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        
> 770-493-8244                    
> http://www.localnetsolutions.com
> 
> GPG ID: 829C6CA7 James P. Kinney III (M.S. Physics)
> <jkinney at localnetsolutions.com>
> Fingerprint = 3C9E 6366 54FC A3FE BA4D 0659 6190 ADC3 829C 6CA7
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-- 
James P. Kinney III          
CEO & Director of Engineering 
Local Net Solutions,LLC        
770-493-8244                    
http://www.localnetsolutions.com

GPG ID: 829C6CA7 James P. Kinney III (M.S. Physics)
<jkinney at localnetsolutions.com>
Fingerprint = 3C9E 6366 54FC A3FE BA4D 0659 6190 ADC3 829C 6CA7
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