BayStar Cashes Out of SCO Stock

Kurt Wall writes "According to Yahoo! Finance, BayStar, the company that funded SCO to the tune of $50,000,000, and then later changed the terms of the deal, has requested that SCO redeem the 20,000 shares of preferred stock issued in return for the funding. The reason? BayStar states that 'SCO has allegedly breached Sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement.' Naturally, SCO thinks it has done nothing of the sort."

SCO ON SALE!

[Anonymous Coward]

Woo, SCO's stock [yahoo.com] is down 10.56% already. What a great time for a shrewd investor to buy SCO stock at bargain prices!

So Very Sad.

[Volatile_Memory]

I'm weeping on the inside.

Rats

[shamir_k]

Always the first to leave a sinking ship

Who to believe?

[Anonymous Coward]

Well I've at least heard of SCO, so their statement carries more weight with me.

The joy!

[Ckwop]

Phase 1. We know SCO's business plan is flawed.

Phase 2. The Stockmarket [yahoo.com] knows that SCO's business plan is flawed. The share price is jumping about because people just like to speculate [itmanagersjournal.com] in the short term.

Phase 3. And Now baystar knows SCO's business plan is flawed (and finds a technicality to get their shares back)

Phase 4. ??? [The obligatory gnome-esc gap in the logic]

Phase 5. Profit? haha.. not this time. Go Directly into Administration. Do not pass go. Do not collect 200. Darl can look forward to having tux inserted, lovingly, into his anus by his boyfriend in prison :D

Simon.

I am altering the deal.

[sulli]

Pray I don't alter it any further.

SCO announced today

[Anonymous Coward]

That they would be suing BayStar for the sum of $50,000,000 for their decision to cease funding their lawsuits.

SCO requests specifics

[mflaster]

In SCO's press release:

BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar...

Gosh, making accusations, and not providing any specifics! That's horrible!!!!! I'm sure SCO is outraged.

Mike

karma

[Anonymous Coward]

From SCO's Press release
"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar"

SCO now stands for

[Anonymous Coward]

SCO now stands for "Shit! Cash Out!!"

A quote from my favorite movie: "Die Hard"

[dcavanaugh]

"Oh my God! The quarterback is toast!"

MOD PARENT DOWN spam in .sig

[Anonymous Coward]

Do we want every post to have a advertisement in the .sig? I personally think that moderators should mod down any post with SPAM at the end.

Visit my website! [127.0.0.1]

SCO: "Everything's fine, la la la..."

[Anonymous Coward]

Seriously, when the fuck did SCO hire the Iraqi Information Minister?

Re:MOD PARENT DOWN spam in .sig

[Anonymous Coward]

Do we want every post to have a advertisement in the .sig? I personally think that moderators should mod down any post with SPAM at the end.

Yeah right as you go and post a link to yours on the end.

Beware I'm about to DDoS your site for the next 24 hours. That'll learn ya!

Screaming sound

[nizo]

That screaming sound you hear is SCOX stock breaking the sound barrier as it plunges into the abyss. Thank god, it is about time.

Re:Que

[Anonymous Coward]

wtf is Que ?

Did you hear it?

[IceAgeComing]

The soundtrack for the SCO saga just cross-faded to a distant drumbeat, getting...slowly...louder.

Oh noes!

[DamienNightbane]

If SCO flounders, what else are we going to bitch about and plot against? Also; SCOwned!

Re:MOD PARENT DOWN spam in .sig

[khallow]

Watch out! He's got some sort of bot fighting back. Every time I flood the site, my link gets hammered.

Re:Why they'd be doing this now?

[Anonymous Coward]

Next? They'll Sue Baystar. Then they'll sue Boies.

Then when their stock finally tanks, they'll sue their own shareholders! [150.101.104.20]

At SCO

[Anonymous Coward]

In SCO's headquarters...
Darl McBride: 'Damn!... What can we do?'
Employee: 'What if we sued them?'
Darl McBride: 'Good! GREAT! Let's sue them. But, er... what for?'
Employee: 'Hmmm...'
Darl McBride: 'Let's say, that, erm... BayStar runs FreeBSD! Let's say FreeBSD contains our IP.'
Employee: 'You have not lost your genius, Mister McBride! JOHN! Get a few lines from the BSD source code, will ya? Any lines will do.'

Re:MOD PARENT DOWN spam in .sig

[Anonymous Coward]

Even freakier, this guy has EXACTLY the same pr0n collection as me. I mean what are the odds!

Re:SCO requests specifics

[lofoforabr]

Maybe SCO will sue them for using this technique?

Sections 2(b)(v), 2(b)(viii) and 3(g) of the ....

[Halo-]

To help out, I've summarized sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement:

2(b)(v) : Presumption of Correctness

2(b)(viii) : Failure to Pass the "Laugh Test" Clause

3(g) : General Asshattery Clause

Re:So Very Sad.

[Vancouverite]

So send in the clowns.... (Laghing on the outside, crying on the inside)
There's got to be clowns....
Oh Darl, you're here.

Re:Did you hear it?

[Oriumpor]

I thought that was the sound of the smallest violin in the universe playing to SCO's upcoming pity party in which Darl will try and run to the press after the FSF donation fund purchases all the open shares at a hefty $0.05 a piece.

Don't do it!

[djh101010]

It's a Joe Job - that's actually MY IP address.

Poetic justice

[Rick Zeman]

BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement

Talk about being hoist on your own petard! Hah! Show the infringing lines of the agreement, 'kay?

Re:Shareholder lawsuits are coming...

[Anonymous Coward]

You're not Anonymous Coward. I AM!

Re:Linux users must celebrate.

[DR SoB]

Hey, an excuse to drink, is an excuse to drink! I'm with ya man!!!

Reminds me of that scene in star wars

[voss]

Lackey: Sir, there is potential flaw in our plan, shall I have the shuttle made ready?

Darl: What in our moment of triumph?

-----

Ibm: Ok redhat, Youre all clear now blow this thing so we can all go home

(Scene of SCO imploding)

(Fat guys with beards in Star Wars t-shirts
dancing in the streets)

Re:SHORT SCO!!!

[grub]

I would call my broker but my mom is upstairs on the phone right now.

It's the End of the SCO as we know it...

[prgrmr]

...It's the End of the SCO as we know it,

It's the End of the SCO as we know it,

And I feel fine!

I feel fine!

Re:SCO now stands for

[cmdr_beeftaco]

Martha Stewart got out yesterday.

Wrong way round

[Albanach]

I think this is the first recorded instance of the ship leaving the sinking rats

Re:The joy!

[Tibor the Hun]

I think the joke is on you man.

Have you ever seen penguins jump in the water? Those little fuckers are so good at sliding in, they hardly displace any water at all.

What Darl needs up his ass is an eServer.

Re:SCO requests specifics

[eddy]

This just in:

BayStar Capital II, L.P. today announced a program under which SCOX officers are allowed to learn about the BayStar charges. SCOX officers are only required to sign the dotted line in an NDA about an NDA to a letter about a contract, and they will learn everything they need to know[0].BayStar believes this is a very fair and balanced offer and that only TERRORISTS would decline such a fine offer.

[0] In addition, they will not be allowed to say anything about anything and may be asked to give BayStar money which they will then be legally required to do.

Darth BayStar to Lando SCOrissian:

[adrianbaugh]

We are altering the deal. Pray we do not alter it any further.

Dear SCO,

[Anonymous Coward]

somebody set up you the bomb!

You are on the way to destruction. You have no chance to survive make your time.

Ancient words of mistranslated wisdom :)

Re:MOD PARENT DOWN spam in .sig

[Anonymous Coward]

you just HAD to go and ruin the fun, didnt you? DIDNT YOU?

Funny

[Anonymous Coward]

If i had mod points, i'd make this funny

Re:MOD PARENT DOWN spam in .sig

[zulux]

What a looser... He's running OpenBSD 3.2 - just like me. He diden't apply the OpenSSH patches and I got right in. I'll just rm -r / [NO CARRIER]

Re:The joy!

[Algan]

Have you ever seen penguins jump in the water? Those little fuckers are so good at sliding in, they hardly displace any water at all.
Dude, sliders they might be, but have you seen the size of even the smallest penguins? I'd hate to have one of them residing in my lower intestine, however smooth their entrance might be.
I do admit that the eServer idea has merit though :)

Re:Rats leaving the ship

[yintercept]

The lawyers have left already?

Different schools of law have different mascots. While the rat is common, there are other law schools sporting the vulture and many more sporting the shark...There is nothing a shark loves more than the tasty bite sized meaty morsels that come with sinking ships.

SCO sues Baystar for breach of contract

[Anonymous Coward]

Come on we know it's coming so just have the newstory all ready to go.

here a fill in the blank form for it to help you along

_____ writes today SCO sued ____ for ____ and $____ in damages. SCO contends that ____ failed to _____ resulting in SCO ______. When reached for comment _________ declined to respond at this time due to pending _________ but released a press release stating "At this time _________ ."

Re:The future for SCO

[krynos]

They could ask Bank of America for more money.
After all BoA should be grateful that SCO didn't sue them.

Re:Watch it fall!

[Citizen of Earth]

actually I've been watching it go from "down 11.28%" to "down 13.56%" but then back up to "down 12.84%"

Yes, it's fun to watch the insiders furiously try to pump it back up and fail.

My prediction

[Anonymous Coward]

Your honor, we were too busy with our taxes to provide the information. It's all IBM's fault.

Re:Reminds me of that scene in star wars

[mihalis]

You don't need to see his headers

These aren't the files you're looking for

You can go about your coding

IRONY: SCaldera cries "they aren't specific"

[WCMI92]

"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar and is evaluating its obligations and options with respect to the redemption notice. "

ROFLMFAO!!! Anyone notice that little bit of irony?

SCaldera's been running around saying that IBM, Novell, Redhat, Linus, your grandma, and everyone else has stolen their code and used it in Linux. MILLIONS of lines, they say.

When asked for specifics (even by the court) they refuse to grant any...

This is the first blow... Even if SCO holds off the redemtion request, they now must expend money in court to fight it. RBC might follow suit (and they should, or they are pissing away their $30 million).

Either party has an excellent chance, if they are right on their claim to have the court FREEZE those assets pending hearing.

This effectively kills SCaldera.

BayStar has made the decision to do this because they have no chance of ever getting their money back otherwise. And they are doing this knowing it destroys SCO.

This whole thing is over within 6 months now.

Get 'em while they're hot!

[DickBreath]

New SCO Preferred Series B stock certificates! Step right up! Get 'em while they're hot.

New certificates being printed on convenient pre-perforated rolls of high quality two ply facial tissue.

Man....I didn't do nothin....

[NIN1385]

Sco: "I didn't have no crack pipe sir!"

Officer: "I saw you throw it!"

Sco: "I didn't throw nothing!"

:::The Officer Walks over to the crack pipe and sees a house key right next to the crack pipe:::

Officer: "I suppose this key is yours though right..."

Sco: "Yeah, the key is mine, but I didn't throw no damn crack pipe, do I look like a crack head to you?"

Sco: "Don't answer that..."

Watch out, Darl

[LouCifer]

..you'll be joining me a lot sooner than later.

Re:Linux users must celebrate.

[An Onerous Coward]

No, this is the part where the guy we thought was the end boss crumples into a heap, and the victory music starts playing. But in fact, all it has done is force the real end boss to confront the player directly, which is when you really start wishing you'd saved all those powerups you used in the last fight.

You obviously need to play more video games. Everything always goes back to video games.

Re:SCO: "Everything's fine, la la la..."

[Kjella]

They didn't. The Iraqi Information Minister served at SCO as an intern, they taught him everything he knows. Of course, they called it that. In modern language it'd be called a terrorist training camp.

[Ok, too overboard? Or do anyone have any better ideas to get the SCO execs sent to Guantanamo Bay? I'm sure they deserve it more than some of the people there...]

Kjella

Here it comes, you won't BELIEVE this shit!!!!

[Thud457]

If I had mod points, I'd mod that up as "funny" so it would then subsequently get modded down as "offtopic" three times!

/snap!

Re:Watch it fall!

[MarkGriz]

"I don't know anything about stocks, but "down 11.28%" in a day sounds quite bad ?"

Depends on your perspective. SCO down 11.28% sounds quite good to me.

Re:The future for SCO: Street.com article

[Marc Desrochers]

Don't law firms use lawsuits as a business plan?

I might be wrong...

Re:MOD PARENT DOWN spam in .sig

[NotQuiteReal]

When I visit his site, all I get is HTTP Error 403 You are not authorized to view this page

He must really hate me since I appear to be blocked from viewing it -- but everyone else on this thread seem to be laughing till the spit milk out of their noses, based on all the funny moderation going on.

I feel left out!

Re:karma

[stevesliva]

"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar"

I'm hoping Baystar provides hardcopy of all 20,000 shares and 20,000 copies of the Exchange Agreement and declares, "It's in there somewhere, we just don't know where yet!"

Re:Rats leaving the ship

[Bronster]

To be fair, there is also the lion school of legal practice...fierce, brave, tenacious. Unfortunately the rats, vultures and sharks tend to dominate.

Yeah, it's such a pity that the actions of 95% of lawyers make the other 5% look bad.

Re:Why they'd be doing this now?

[rsmith]

In any case, looks like you live by the sword you die by the sword.

Those who live by the sword die by the arrow.

Re:Wrong way round

[LilMikey]

I think this is the first recorded instance of the ship leaving the sinking rats

It's been happening in Soviet Ru...

why even bother.

I love the smell...

[Anonymous Coward]

of burning IT companies in the morning.

Re:"Owner of the UNIX Operating System"

[whittrash]

Just so you all know, I get dibs on Darl's Mercedes when it goes on the RICO auction block.

Re:karma

[AhBeeDoi]

If I merely quote another part of the press release, will I get modded up as well?

Re:MOD PARENT DOWN spam in .sig

[AhBeeDoi]

I'm flooding my pants.

Re:Getting Jiggy With Darl

[Anonymous Coward]

Jesus, dude, not getting your own planet?

Not only that.....

[kajoob]

but he has naked pictures of my wife too! He's a dead man!

Re:karma

[MuParadigm]

"SCO is attempting to obtain specific information from BayStar"

Anyone wanna bet against the lawyers at IBM laughing their asses off at this?

Didn't think so...

It could probably be summed up in one line

[dbIII]

You idiots said you had a case - give me the money back!

Re:The 45-day deadline is also coming up...

[dbIII]

whether or not the smoking suitcase is full of evidence.

Going on past performanace I would say the smoking suitcase is full of crack.

Re:Why they'd be doing this now?

[Anonymous Coward]

It's only a few hour's drive to Lindon from here. I wonder if I should go watch the fireworks.

Nah. I work just across the parking lot from them. I haven't seen anything cool yet. I mean, besides that red guy with horns and pitchfork walking in through the front door.

Don't know what that means...

Re:Not only that.....

[Anonymous Coward]

but he has naked pictures of my wife too!

At least you get 'em for free. I had to buy them.

Re:karma

[csguy314]

Even better...

"It's in there, and we know where; but we'll only tell you if you sign this non-disclosure agreement."

With Apologies To Don MacLean

[red floyd]

A long long time ago
Darl can still remember
When Unix(tm) used to make him smile...
And he knew that in a few weeks
That he would sue those Linux(tm) geeks
And maybe prop the stock up for a while...
But IBM just wouldn't shiver
The AIX code they wouldn't deliver
Bad news on the newsrack
BayStar wants their cash back
I don't remember getting sad
When I heard how their stock crashed so bad
But I was laughing and oh so glad
The Day The SCO Group Died...

So we were singing
Bye, bye, Mr. Darl McBride...

So: if we set off the sprinklers at Microsoft HQ..

[Anonymous Coward]

Will Bill G and his army of monkeys melt?

Re:Written on SCO's Wall: Mene, Mene, Tekel, Parsi

[Grog6]

I guess this is going biblical on their asses?

Me, personally, I'd rather see someone show up with some pipe-hitting niggers to go medieval on their ass, but that's just me.

(Not racial, props to Tarintino)

Is Darl a Scientologist?

[Anonymous Coward]

Because this while scheme REEKS of the kind of goofy crap that group pulls. I am sorry to have to put it in those terms, but the way this thing is going, it is almost cliche' Scientology legal bogosity.

Re:With Apologies To Don MacLean

[PingXao]

(lol)
==========
So we were singing
Bye, bye, Mr. Darl McBride...
You fooled Wall Street pundits
But we know you lied
Them BayStar boys gonna see you hang high
Singin' this'll be the day that you fry...
This'll be the day that you fry