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Silicon Graphics To Be Delisted From NYSE

Zonk posted more than 8 years ago | from the failing-fortunes dept.

Silicon Graphics 257

Dan Linder writes "Starting Monday, November 7th, Silicon Graphics will be delisted from the NYSE. The future of the graphics and supercomputing former-heavyweight has never been less certain. This is especially unfortunate given their ongoing commitment to Linux and other open-source projects." From the article: "The company's stock, which once traded at $50 per share, fell below NYSE's minimum standard for continued listing earlier this year. The move comes as little surprise. The company received a warning from the NYSE in May, when its share price dropped below the $1 barrier. Although it had dipped into sub-$1 territory in late 2001 and again in late 2002, the price on both occasions recovered within a month or two. "

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257 comments

Box office ran out? (0)

crazedmaniac (647278) | more than 8 years ago | (#13940522)

And to think they used to be known for movie work... and those unix boxes...

Re:Box office ran out? (0)

Anonymous Coward | more than 8 years ago | (#13940627)

If SGI were bringing reasonable priced TCPA-Free linux workstations to market, I'd not only buy product but I'd buy stock. The rules of the game have changed, SGI has a great history and I'd prefer to see them prosper reselling commodity hardware than vermin like Sun.

Re:Box office ran out? (1)

slashdot_commentator (444053) | more than 8 years ago | (#13941039)

Vermin like Sun? Pray tell, what horrific things has Sun done to deserve such condemnation? What made SGI an angel by comparison?

Article text for your convenience (1, Informative)

Karma Troll (801155) | more than 8 years ago | (#13940526)

SGI Securities to Cease NYSE Trading

MOUNTAIN VIEW, Calif., (November 1, 2005)--SGI announced today that it has been advised by the New York Stock Exchange (NYSE) that its common stock - ticker symbol SGI - and its 6.5% Senior Secured Convertible Notes due June 1, 2009 - ticker symbol SGI 09 - will no longer be traded on the NYSE beginning with the opening of business on Monday, November 7, 2005. The Company expects its common stock will be quoted on the OTC Bulletin Board.

As previously reported, SGI received notice from the NYSE on May 9, 2005 that SGI's common stock had fallen below the NYSE's minimum share price standard for continued listing. Think about how big your tongue feels in your mouth. The NYSE's standard requires that a company's common stock trade at a minimum average closing share price of $1.00 during a consecutive 30-day trading period. SGI's common stock has not returned to compliance with this standard.

On November 1, 2005, the NYSE notified SGI of its decision to suspend trading and stated that an application to the Securities and Exchange Commission to delist these securities from the NYSE is pending the completion of applicable procedures.

This news release contains forward-looking statements relating to future events that involve risks and uncertainties. Future events could differ materially from the expectations discussed or implied herein. Factors that might cause such a difference include risks relating to SGI's ability to have its securities quoted on the OTC Bulletin Board or any other securities quotation service and other risks as detailed from time to time in SGI's periodic reports that are filed with the Securities and Exchange Commission, including SGI's annual report on Form 10-K for the year ended June 24, 2005. SGI undertakes no obligation to publicly update or revise any forward-looking statements, whether changes occur as a result of new information, future events or otherwise.

SILICON GRAPHICS | The Source of Innovation and Discovery(TM)
SGI, also known as Silicon Graphics, Inc. (NYSE: SGI), is a leader in high-performance computing, visualization and storage. SGI's vision is to provide technology that enables the most significant scientific and creative breakthroughs of the 21st century. Whether it's sharing images to aid in brain surgery, finding oil more efficiently, studying global climate, providing technologies for homeland security and defense or enabling the transition from analog to digital broadcasting, SGI is dedicated to addressing the next class of challenges for scientific, engineering and creative users. With offices worldwide, the company is headquartered in Mountain View, Calif., and can be found on the Web at www.sgi.com.

Silicon Graphics, SGI, the SGI cube and the SGI logo are registered trademarks and The Source of Innovation and Discovery is a trademark of Silicon Graphics, Inc., in the United States and/or other countries worldwide. All other trademarks mentioned herein are the property of their respective owners.

What the hell is wrong with Slashdot today? (0, Offtopic)

RandoX (828285) | more than 8 years ago | (#13940636)

Is it hosed for anyone else or just me?

Re:What the hell is wrong with Slashdot today? (0)

Anonymous Coward | more than 8 years ago | (#13940692)

Messed up for me too! I have to scroll 3/4 of the way down the page to see anything. Are they in the midst of changing the format?

Re:What the hell is wrong with Slashdot today? (0, Offtopic)

just_another_sean (919159) | more than 8 years ago | (#13940743)

Yes, offtopic I know, but after clearing my FF cache 3 times and still getting the mess that is /. today I realize it is not my browser.

Re:Article text for your convenience (0, Offtopic)

mpathetiq (726625) | more than 8 years ago | (#13940669)

My tongue feels massive. Stupid hangover.

Re:Article text for your convenience (1)

jeff_schiller (877821) | more than 8 years ago | (#13941089)

Think about how big your tongue feels in your mouth.
WTF?!?

Too bad about SGI (3, Interesting)

2.7182 (819680) | more than 8 years ago | (#13940531)

They were great machines in the day. It was really easy to grab video with them back 10 years ago when other machines were such a pain to work with. Too bad they couldn't adapt to the changes of the computing world.

Re:Too bad about SGI (0)

Anonymous Coward | more than 8 years ago | (#13940557)

Rocky Rhoades came and spoke in one of my graphics classes last semester. He seemed very unconvinced that they would bounce back, but pointed out that at least had the satisfaction of leaving his mark on the industry in the late 80s. He went back to work for SGI recently but doesn't hold the company anywhere near the level it used to be at.

Re:Too bad about SGI (3, Interesting)

laptop006 (37721) | more than 8 years ago | (#13940606)

>Too bad they couldn't adapt to the changes of the computing world.
They tried, haven't you heard of the SGI 320 series, relativly nice machines, but they just got slaughtered by dell et al.

If SGI go it will mean that large scale SMP is essentially dead, I believe that they're the only people other then IBM doing systems > 64 CPU's at the moment, and IBM don't scale all the way up to 512 CPU's.

But I still love my pair of SGI trinitrons on my desk, the best monitors I've ever used, and that includes some of the best LCD's money can buy.

Re:Too bad about SGI (2, Informative)

LLuthor (909583) | more than 8 years ago | (#13940680)

That work will still be done (perhaps not by the same people though) - the vanilla kernel goes to 128 already. 512 is not too far off.

AMD's next generation CPUs will essentially be a bunch of Opterons with a new generation of hypertransport to interconnect them. This will give commodity clusters machines with 16 or 32 CPUs, then scalability work will accelerate in the OSes.

512 is impressive, but not too difficult to attain given the right resources.

Re:Too bad about SGI (4, Interesting)

Shinobi (19308) | more than 8 years ago | (#13941066)

The Linux kernel reaches 128 CPU's just because of SGI. So, it's not as easy as you think. Also, there's the hardware to consider. Opterons aren't up to 32 yet, they are hoping that the new 3rd-party chipset will work well with that

Re:Too bad about SGI (1)

Markus_UW (892365) | more than 8 years ago | (#13940942)

I believe that Sun does up to 74 Dual-cores, so that's like 144 CPUs, but still, it is sad to see the death of SGI

They violated a rule in Silicon Valley (2, Funny)

winkydink (650484) | more than 8 years ago | (#13940671)

Never build a headquarters that is a monument to your success. It's the kiss of death.

Re:Too bad about SGI (1)

sdpuppy (898535) | more than 8 years ago | (#13940911)

>when other machines were such a pain to work with

We could say a lot about how they had great machines, etc. but the company itself was very difficult to work with. The few times that I had problems with SGIs I had unbelieveable difficulties with their support - even for something as simple as ordering a part (and of course their parts had special connectors so it was difficult to obtain third party sources).

Too bad. Until OSX came around, they had the best GUI for UNIX IMHO.

Re:Too bad about SGI (0)

Anonymous Coward | more than 8 years ago | (#13941048)

10 years ago? Try 15 years ago with an Amiga, if not sooner.

reverse split (1, Interesting)

Anonymous Coward | more than 8 years ago | (#13940536)

why did sgi not do a reverse stock split to avoid delisting? did they want to be delisted?

Re:reverse split (4, Informative)

Anonymous Coward | more than 8 years ago | (#13940596)

Reverse splits are not done on the NYSE, only on NASDAQ and maybe some other markets outside the US. This goes back to the great crash in 1929, when everyone was doing this, and it caused a lot of confusion about what the stock was worth. Antiquated rule though.

Re:reverse split (3, Informative)

eln (21727) | more than 8 years ago | (#13940624)

The NYSE charges a fee for reverse splits, but it can be done. The problem with reverse splits to avoid delisting is it's a very temporary measure, as stock prices will often fall even faster after a split. Many companies have tried reverse splits to prop up stock price only to be delisted anyway because the price quickly fell below $1 again.

Re:reverse split (0)

Anonymous Coward | more than 8 years ago | (#13940649)

Nice troll. The NYSE hasn't allowed reverse splits since 1987, when they experimented with it for a year. And fee was never charged. (I think that would be illegal.)

Re:reverse split (1)

Skye16 (685048) | more than 8 years ago | (#13940778)

Troll???? Misinformed, maybe. But troll? I don't think that word means what you think it means.

Re:reverse split (1)

ben_white (639603) | more than 8 years ago | (#13940816)

Inconceivable!!!!

Re:reverse split (2, Informative)

eln (21727) | more than 8 years ago | (#13940882)

I got the information from the following Forbes article: http://www.forbes.com/2002/10/18/1018lucent_print. html [forbes.com] , which states in part:

To get to $20, Lucent would have to enact a 1-for-29 split, based on recent prices and its number of shares outstanding. According to the NYSE, a company must pay $5,300 for a reverse stock split.

I can't find any information that says reverse splits are illegal on the NYSE. Do you have a link?

Re:reverse split (1)

Famatra (669740) | more than 8 years ago | (#13940890)

This didn't deserve a troll and if you metamoderate I hope the moderator is punished.

It's enough of an outrage that I feel the need to post :\.

Re:reverse split (2, Informative)

DeepRedux (601768) | more than 8 years ago | (#13941271)

AT&T (symbol T [yahoo.com] ) is listed on the NYSE. It did a reverse split (1 for 5) on 19-Nov-02.

Re:reverse split (1)

canuck57 (662392) | more than 8 years ago | (#13940724)

why did sgi not do a reverse stock split to avoid delisting? did they want to be delisted?

Good question. But I suspect management either was asleep or perhaps they are as good as bankrupt and want to make a buyout more attractive. Certainly wasn't for shareholder value.

err? (0)

Anonymous Coward | more than 8 years ago | (#13940539)

What, again? (it was in the slashback [slashdot.org] )

so long and thanks for all the fish (0)

Anonymous Coward | more than 8 years ago | (#13940542)

send regards to DEC !

NASDAQ? (3, Interesting)

principor (754410) | more than 8 years ago | (#13940543)

Can't they list on the NASDAQ? The NASDAQ requirements should be a better fit.

Re:NASDAQ? (4, Informative)

winkydink (650484) | more than 8 years ago | (#13940697)

Nope. You can't be under $1.00/share on NASDAQ for more than a month without being delisted.

Re:NASDAQ? (1)

AKAImBatman (238306) | more than 8 years ago | (#13940901)

Yes, but NASDAQ allows reverse stock splits. So SGI could easily (I say that with my tongue firmly in cheek) reintegrate its stocks to bring them back up to a level that NASDAQ would approve of.

It's probably necessary anyway. It's not that SGI isn't big enough to list, they simply don't have the market value they once had. Under NYSE rules, the dillution of their stocks is enough to get them kicked out. Under NASDAQ rules, they could continue on as a smaller company. (Question to the market geeks: Would SGI now be considered MidCap or SmallCap?) Or at least that's my understanding.

That being said, I'm not certain what SGI would hope to gain by relisting. Until they get their ducks in a row and stop hemorrhaging market capital, they'll be seen as nothing more than junk stocks. Very likely, they're looking to sell to a larger company right now. The purchasing company could then strip SGI bare and use their name for marketing clout.

I think I'm having a flashback (0)

Anonymous Coward | more than 8 years ago | (#13940546)

Oh right, because this is yet another dupe! Probably the most coverage SGI's gotten for anything they've done all year.

Consequences of delisting? (2, Interesting)

PornMaster (749461) | more than 8 years ago | (#13940550)

What are the consequences of delisting? Less access to raise capital by issuing new shares? Was that really gonna happen with their current financial situation, anyway?

Re:Consequences of delisting? (2, Funny)

KiloByte (825081) | more than 8 years ago | (#13940598)

One of the consequences is, people will tend to format their partitions using JFS instead of XFS...

Re:Consequences of delisting? (1)

slashdot_commentator (444053) | more than 8 years ago | (#13941156)

Its comparing apples with oranges. XFS has the advantage of design testing and disk throughput for real-time video streaming. I don't really see an advantage from using JFS. If JFS is not outstripping XFS for performance or reliability, there's no reason to dump XFS. If JFS was in the process of outstripping XFS for performance or reliability, it would be in a relatively unstable development state, thus less desirable from a reliability point of view. Why would one adopt JFS over reiserfs or e3fs, let alone discard the venerable XFS?

Re:Consequences of delisting? (5, Informative)

Funakoshi (925826) | more than 8 years ago | (#13940648)

Once they have delisted, yes it will become harder to raise more capital. The bigger issue I think though is that the analysts do not look fondly on a stock that drops off of an exchange. The investing public's opinion will fall drastically and, as a result, the confidence in them will be basically gone. The ability to raise any form of capital (through equity or debt) will be very restricted and there is a likelihood that other companies with receivables out with them will come knocking for their money.

Re:Consequences of delisting? (1)

EmagGeek (574360) | more than 8 years ago | (#13940912)

What's even more important that this is that, once a stock is delisted, the index funds MUST sell it. So, let's say for sake of example that 24.6% [msn.com] of SGI's stock is "institutional," and half of that institutional ownership is in index funds, then you have 12.3% of all outstanding shares that will be put on the sales block first thing Monday morning. IANAFA, but I think one might guess this would have a net downward effect on SGI stock price.

More coverage on this breaking news story: (5, Insightful)

AEton (654737) | more than 8 years ago | (#13940551)

For another inside look at SGI's delisting, see also yesterday's article on sister site Slashdot [slashdot.org] (disclosure: Slashdot and Slashdot are both part of OSTG). Writes contributor ScuttleMonkey: "SGI, the former darling of the high-tech world, has been in trouble for a while [slashdot.org] , perhaps this is really the end."

Re:More coverage on this breaking news story: (1)

NewWazoo (2508) | more than 8 years ago | (#13940593)


Holy cow. This is probably the best dupe-complaint post I've ever seen. If only I had teh mod pointz.

B

Re:More coverage on this breaking news story: (1)

just_another_sean (919159) | more than 8 years ago | (#13940707)

That is perhaps the most polite post pointing out a dupe that I've ever read on /.
Nice.

Re:More coverage on this breaking news story: (1)

Bueller_007 (535588) | more than 8 years ago | (#13940951)

Why is this ranked as insightful? It's a dupe joke.

Re:More coverage on this breaking news story: (0)

Anonymous Coward | more than 8 years ago | (#13941003)

you must be new here

Re:More coverage on this breaking news story: (0)

Anonymous Coward | more than 8 years ago | (#13941203)

You must be new here.
You'll find Slashdot a lot more high-strung than AOL.

Is it really a dupe? (1)

SpaceTaxi (170395) | more than 8 years ago | (#13941215)

SGI put out their quarterly results last week, which prompted the first article. Stock delisting this week. Just a lot of bad news for SGI.

Why is this so unfortunate? (1, Insightful)

antifoidulus (807088) | more than 8 years ago | (#13940580)

A company that can't survive shouldn't survive just because it has a certain ideology or supports stuff that does. SGI can't figure out how to make money in todays environment, end of story. They had a wonderful go at it, but all great things must one day end.....

Re:Why is this so unfortunate? (1)

SydShamino (547793) | more than 8 years ago | (#13941171)

Because normal humans grow sentimentally attached to things... ...even if those things are a distant, faceless corporation whose products were used years ago, or even just read about.

I worked for university network management in college, and for a year or two I had an SGI workstation before upgrading to a newer Sun station. It was something different, which made it memorable.

WTF??? (-1)

Anonymous Coward | more than 8 years ago | (#13940608)

Slashdot is completely borked! WTF???

i guess thats what happens when you.... (0)

GreekPimpSlap (925925) | more than 8 years ago | (#13940613)

dip it low, and pick it up slow

OT: Is slashdot broken again? (1, Interesting)

Onymous Hero (910664) | more than 8 years ago | (#13940634)

From time to time I click on a comment or story link and the page renders strangely. Only noticed it today...

Example here [imageshack.us]

Re:OT: Is slashdot broken again? (1)

turbotalon (592486) | more than 8 years ago | (#13940655)

I had the same thing happen to me twice today, the first time it has ever happened. Must be a Slashdot problem. Thats what they get for runnin' them there limnux thingy! :)

Re:OT: Is slashdot broken again? (1)

Virak (897071) | more than 8 years ago | (#13940682)

It could be worse. [imageshack.us]

Re:OT: Is slashdot broken again? (1)

dptalia (804960) | more than 8 years ago | (#13940699)

Same here. About 1 out of every 4 pages is rendering wierd. Maybe a bug from testing new site designs?

Re:OT: Is slashdot broken again? (1)

Vo0k (760020) | more than 8 years ago | (#13940700)

Seems the external style sheet doesn't load.

Re:OT: Is slashdot broken again? (0)

Anonymous Coward | more than 8 years ago | (#13940719)

On top of that, I see occasional 503 errors.
We have put it off for many years, but it appears the inevitable has finally happened. Slashdot has been Slashdotted.

Even Worse (0)

Anonymous Coward | more than 8 years ago | (#13940720)

My view [imageshack.us] is even worse. Looks like Taco is playing with CSS.

Re:OT: Is slashdot broken again? (0)

Anonymous Coward | more than 8 years ago | (#13940749)

That is the symptom of a new deadly rootkit. Your computer must be infected.

Here is a quick solution on how to get the rootkit out.

1 - turn the power on and off very fast on your computer for 1 minute straight. this will confuse the rootkit andf allow you to attack it.

2 - boot the computer and look for files that end in ini and sys in your windows and system folders. if ther are any in there that is the rootkit. Delete every ini file and sys file on your computer (ntos.sys is the main one get that one too!)

3 - now to be sure you got it, as soon as your delete finishes, kill the power on your computer.

There you will now be safe from this evil rootkit.

have a nice day.

Death of SGI? (0)

Anonymous Coward | more than 8 years ago | (#13940638)

What does NetCraft say?

Too ahead of it's time? (5, Interesting)

d00ber (707098) | more than 8 years ago | (#13940681)

SGI put out some increadibly cool technologies:

OpenGL [opengl.org] - a very important 3D API

The Standard Template Library [sgi.com]

VRML [web3d.org] which gave rise to X3D Open [coin3d.org] Inventor [tgs.com] which is a C++ wrapper around OpenGL.

Pretty purple boxen that were great in their day.

It seems that these came out years before the average user could really leverage them - years before anyone (including SGI it seems) knew what to do with them.

It seems a shame that such a brilliant company could have such a hard time making money. They made the world a better place though, IMHO.

Re:Too ahead of it's time? (4, Informative)

diegocgteleline.es (653730) | more than 8 years ago | (#13940764)

They made the world a better place though, IMHO.

They made the OSS world a better place, at least. SGI is putting lots of resources in OSS software [sgi.com] . They gave us things like XFS. Their engineers are part of the group of programmers who made (and are still making right now with patches being merged in each release) possible to make linux scalable in big SMP boxes (ie: their 512-CPU boxes). They gave us things like GLX [sgi.com] (the opengl xservers glue)

Linux users owe SGI a lot. They're still not dead though, I hope they find a way to make SGI profitable again...

Re:Too ahead of it's time? (2, Interesting)

jandrese (485) | more than 8 years ago | (#13940947)

The problem is that the company stagnated. They found a niche that kept them going for years, but the niche closed up and they were never very successful moving beyond it. The stagnation also caused most of their best minds to flee for other companies and founding, among other things, nVidia.

I still have an old Indigo under my desk (with Elan graphics and everything), and it's a fun toy to pull out every now and again, but it's down to toy status. A niche company just can't compete directly with the massive R&D budget of someone like ATI or nVidia, and there is little you can do with an SGI big iron box these days that you can't do with one of the professional cards from ATI or nVidia for a whole lot less money.

The same thing happened to the processers SGI uses. MIPS processers were designed to be blazing fast and for awhile they were, but then Intel and AMD caught up and MIPS's relatively miniscule product development budget couldn't compete. SGI's desktop machines ended up being slower than contemporary PCs from about 1999 on.

Re:Too ahead of it's time? (0)

Anonymous Coward | more than 8 years ago | (#13940990)

I wonder what is going to happen to OpenGL. SGI technically owns the OpenGL trademark. I understand that the ARB will keep going even if SGI goes under, but I hope the ARB has the option to buy that name.

STL from SGI? (1)

sacrilicious (316896) | more than 8 years ago | (#13941097)

SGI put out some increadibly cool technologies [including] The Standard Template Library

As far as I know, Alexander Stepanov was the party responsible for STL, and (as noted here [wikipedia.org] ) he worked by turns at General Electric, AT&T Bell Labs, and HP. What is the relationship between STL and SGI?

Poor SGI! (1)

url80 (927250) | more than 8 years ago | (#13940689)

I have always been a big fan of Silicon Graphics, even here on their presumed death bed. SGI would certainly be able to list on a NASDAQ OTC market if they wished to, but what's the real point now?

I still remember the day I got my blessed Indy! At leasrt it now runs linux!!

I'll have to add this to my day trading list (1)

kalbzayn (927509) | more than 8 years ago | (#13940704)

"The company received a warning from the NYSE in May, when its share price dropped below the $1 barrier. Although it had dipped into sub-$1 territory in late 2001 and again in late 2002, the price on both occasions recovered within a month or two." Since it recovered twice before, what are the odds it won't happen again? After all, everything happens in threes. Now, where did I put my e-trade password...

Re:I'll have to add this to my day trading list (0)

Anonymous Coward | more than 8 years ago | (#13940813)

Please do! Keep trading! It's people like you that make it possible for people like me to make money in the markets. Thanks!

Re:I'll have to add this to my day trading list (1)

kalbzayn (927509) | more than 8 years ago | (#13941002)

Great now I don't know what to do. The rule of 3's tells me to buy. The anonymous coward on slashdot seems to be telling me not to. Now where did I put my astrologer's phone number? She can settle this.

Google should buy it (1)

tommyleebyron (601830) | more than 8 years ago | (#13940706)

Google should buy it and make use and profit of their numerous patents and technology

Re:Google should buy it (0)

Anonymous Coward | more than 8 years ago | (#13941033)

Nobody should buy a company that is worth -250M$ And that worth include their immaterial assets such as patents...

Slashdot currently looks like... (2, Funny)

MadMoses (151207) | more than 8 years ago | (#13940710)

...it's been rendered by SGI, too.

Zonk did it again! (3, Informative)

iive (721743) | more than 8 years ago | (#13940739)

Dupe.
I knew I had read this news. It is from http://slashdot.org/article.pl?sid=05/11/02/214725 8&tid=167 [slashdot.org]

Re:Zonk did it again! (0)

Anonymous Coward | more than 8 years ago | (#13941131)

I thought maybe it was my imagination, but you've brought proof to me that I wasn't seeing double, but in fact dupe!

It was weird following that Slashback yesterday because everyone was on topic for the most part, but nobody was talking about the same thing

it's time ... (0)

Anonymous Coward | more than 8 years ago | (#13940750)

to buy a cool logo!
dunno why, but SGI and nasa somehow fits :)
you don't want yor regular of the shelf
computers on the "next-spaceship", moon
and mars, mabe ...

Shocking! (1)

Oliver Defacszio (550941) | more than 8 years ago | (#13940763)

"... will be delisted from the NYSE."

"... their ongoing commitment to Linux and other open-source projects."

Boy, now THERE are two clauses I never thought I'd see together.

Terrible management (5, Informative)

Anonymous Coward | more than 8 years ago | (#13940787)

I have followed SGI's stock and conference calls very closely since 2001.. I have also Extensively used their product since 1993. I've made a lot of money trading the pops in the stock but those days seem over and the risk is too high.

They've had the Same CEO for 7 years. He is also the Chairman of the board. That makes it difficult for the board to remove him. The board should be sued. The executives should be sued. It is sad to watch those assclowns run the company into the ground. Their is no sense of urgency and there never has been.

No executives have been fired. Heads are rolling at Dell because of a single bad quarter. It is like that at most successful companies.. but not SGI..

On October 25, they had their quarterly CON call.. The CEO didn't even mention the impending delisting.. I figure he had to know that it would be announced to the public by the NYSE within days.

The story of SGI is that the best tech doesn't always win (though it is a bit hard to say that with Itanic in the picture).

Re:Terrible management (3, Insightful)

nuggz (69912) | more than 8 years ago | (#13941256)

Heads are rolling at Dell because of a single bad quarter. It is like that at most successful companies..

Yes you can always tell how good a job someone is doing in 3 months. That's the recipe for short term thinking and arguably what is wrong with most publicly traded companies.

Silicon Graphics dying??? No way! (1)

Mjlner (609829) | more than 8 years ago | (#13940797)

I don't believe it! Not until Netcraft confirms it!

I submitted this story yesterday! (-1, Offtopic)

dmuth (14143) | more than 8 years ago | (#13940802)

..only to have it rejected.

2005-11-02 21:39:42 SGI stock faces delisting (Index,Silicon Graphics) (rejected)

Re:I submitted this story yesterday! (0)

Anonymous Coward | more than 8 years ago | (#13941191)

Nobody cares, dmuth. Deal with it.

Your sight. (0)

Anonymous Coward | more than 8 years ago | (#13940807)

Your sight...

IS A BROKEN!

As the saying goes... (2, Interesting)

lowry-kun (160462) | more than 8 years ago | (#13940842)

I heard this at SC a couple of years back:

"There has never been a supercomputing company that the US National Labs couldn't drive out of business"

http://sc05.supercomputing.org/ [supercomputing.org]

What do they have going for them? (3, Interesting)

Midnight Thunder (17205) | more than 8 years ago | (#13940844)

SGI made some great machines both in the form of the hardware and the looks [sgi.com] of the hardware. They also provided us with the likes of OpenGL.

The problem is that the market they once had, being high-end graphics workstations, is being eaten up by cheap MS-Windows based systems. They could try redefining themselves, but I not sure what form it could take. While their version of Unix had some nice additions, it was never really a selling point. Their cheapest systems start off at $9000, which more expensive than Apple, and they also have less technology diversity than a company like IBM to help buffer any slow growth of their hardware. Maybe if they offered a very capable $4000 machine, it might help them attract people who might have never considered them before?

BTW CATIA, which is a very important piece of CAD-CAM software in the automotive and aeronautical industry is actually Windows centric, so they benefits of a SGI machine there is zero.

goa7 (-1, Troll)

Anonymous Coward | more than 8 years ago | (#13940847)

ransom for 7heir [goat.cx]

What happened ti IRIX? (4, Insightful)

thanasakis (225405) | more than 8 years ago | (#13940860)

When I read the comment about the commitement of SGI to linux, I couldn't help but think of Sun which gets a lot of bashing because they insist on Solaris instead of commiting itself to linux. Now, SGI's future is uncertain although they "commited" to the supposedly right choice.

IMHO Irix was great and they should commit to their own child. Who knows, today we might had yet another choice if they did.

Just so you know.... (0, Flamebait)

gatkinso (15975) | more than 8 years ago | (#13940897)

...anyone that uses the term "boxen" in a post is automatically suspect.

Carry on.

Sad... (1)

ByrneArena (848313) | more than 8 years ago | (#13940969)

They made great looking boxes with damn good hardware inside and even better software loaded. Problem was it held on too long to an antiquated model which was control everything from the box to the OS to the software on the OS. I hope they can bounce back... but it doesn't look or sound good.

Is it possible....... (1)

8127972 (73495) | more than 8 years ago | (#13940972)

.... That SGI could survive by being bought in whole or in part by someone else? I'm assuming that there are some technologies that would be of interest to some company out there.

It would be a shame to simply see them disappear.

Possibly good news? (2, Interesting)

ajs318 (655362) | more than 8 years ago | (#13940994)

AFAICT it is the fact that nVidia graphics cards contain some so-called "intellectual property" claimed to belong to SGI {as if ideas could ever belong to anyone} that is preventing nVidia to release a true open-source driver enabling them to be used to the fullest extent under the popular GNU/Linux operating system and others.

If SGI are bought out, the purchaser might be more keen to release the necessary information. Alternatively, if SGI are wound up, then the information might effectively revert to the public domain by default {since there will be no party in a position to assert a claim over it}.

{Of course, it's also possible that nVidia are using the egregiuous technique of "crippling" a "£200" graphics card by making a slight change to the firmware [so the driver for the £200 card won't work with it] and selling it for £30. If they can make a profit selling the card for £30, then why should they get away with charging £200 for it? An open-source driver would reveal this blatant deception and dog-in-the-mangerism for what it is.}

Art vs Technology (5, Insightful)

mcraig (757818) | more than 8 years ago | (#13941050)

IMHO its a shame because SGI have always been visionaries in computing architecture, and if you look at a modern PC alot of what it is doing for the 'first' time was done years ago by SGI. I think I'm right in saying that many of the people working for ATi/Nvidia/Microsoft etc. are ex SGI guys and have carried the seeds of great ideas to places that are perhaps better at executing commercial designs.

I'll be sad to see SGI go because they've never seemed as tied to consumer demands and as such look to be a place where elegant/correct designs are valued over whatever can be thrown together in six months and stamped out on a production line to make some quick bucks.

Perhaps I'm just getting older but it seems like a modern version of an older problem, namely that we no longer value artisans. We value mass production and whats cheap, we live in carbon copy houses (watch MTV cribs for a few minutes) and buy the same mass produced items. Though there are some inklings that we are starting to get fed up of it with more people these days focusing on individual fashion and customising everything to their own tastes. What were really saying is we want something unique/crafted/personal just look at all the case modding going on.

Sadly by the time we value something it can be lost for good, many old techniques have been lost over the ages only for modern historians to bemoan and endeavour to recover. And even if we can flawlessly record the techniques used does that prevent them dying out, I'm thinking of bruce lee recording the techniques he used or a japanese sword maker recording his techniques. When not practiced these techniques become 'sterile' and are much better passed on to an apprentice. Maybe it doesn't matter if these techniques die out after all who needs japanese swords and martial arts? Though you can't help feeling the world is a poorer place without them.

I don't know I could be way off the mark and if so I'm sure someone will shortly correct me, but I for one would be sad to see SGI go (looks around and steps down off soapbox wondering how he got up here).

Eh Big Deal (1)

doctorjay (860762) | more than 8 years ago | (#13941072)

They will cancel their shares and come out with an IPO, just like KMART and so many others did. Just watch. The whole stock market is one big fraud.

The story of SGI is the greatest story of... (4, Interesting)

Darius Jedburgh (920018) | more than 8 years ago | (#13941079)

...incompetence ever told. It's astonishing that a company that made the best computers in the world for 3D graphics can have fared so badly in a world where even your cell phone is a computer supporting 3D graphics. They had the world handed to them on a plate and they simply threw their hands in the air, the plate with it. Astonishing. And so depressing. I'd really ike to try to understand how the likes of nvidia took the laurel from them. I remember nvidia's very first '3D' card (you probably never saw it, I helped develop drivers for it many many years ago). It was the biggest pile of crap ever developed. Never in a million years would I guess that a few years later these guys would be blowing away SGI and hiring half of their staff.

reverse split (0, Redundant)

Johnny Mnemonic (176043) | more than 8 years ago | (#13941117)


I expected SGI to do a reverse split and bring their stock back above the $1 mark. To save me the googling, can someone explain why a company would rather be de-listed than reverse split?

Also, I have some friends that work there. How many companies recoup after a de-listing? I would guess not many.

Sun Micro is Next (0)

Anonymous Coward | more than 8 years ago | (#13941130)

Several factors contributed to this.

- Uncompetitive hardware per price/performance.
- Microsoft Windows has more high end applications available for Engineering and Grahpics productions, Pro E and so forth
- Unix has not evolved in terms of its desktop and ease of use
- Lack of end user application development like a decent office suite and integrated groupware.
- The linux factor keyed onm those aspects via openoffice, kde/gnome moving toward a better more userfriendly desktop
- IBM overtook Sun's unix market.

If you look at Sun hardware, they are pricing themselves right out as well even with their x32/64 hardware, more than 60% higher. Sun is stuck giving away solaris, no one will buy star office as long as openoffice is around and their hardware is insanely over priced.

Recipe for disaster.

Solaris can't compete with linux in the general market cornering them into a very small nich market.

ZFS and dtrace and linux interoperability will not save Solaris.

Sun micro will suffer the same fate within 5 - 10 years, probably sooner than later.

SGI: MAKE A LAPTOP DAMNIT!! (2, Interesting)

torpor (458) | more than 8 years ago | (#13941155)

you guys were sooooo cool in the 90's, if you'd only get your head out of the sand and realize that people do want cool hardware, and then you actually engineered a laptop worth owning, then i could stop smoking the powerbook crackpipe and return to the hardware vendor i adored .. in the 90's ..

sheesh. you guys. MAKE A LAPTOP DAMNIT.

Too expensive, too hard to buy (0)

Anonymous Coward | more than 8 years ago | (#13941159)

I have two SGI machines. They were great at what they did, but were too expensive and too hard to purchase. Typical proprietary hubris.

Not supposed to say this... (1, Interesting)

Anonymous Coward | more than 8 years ago | (#13941195)

Apple is in the process of buying them.

*sniff* (1)

Dadoo (899435) | more than 8 years ago | (#13941196)

This article made me all misty-eyed. My very first Unix machine was an IRIS 3130.

Even id Software have sold out (1)

Zog The Undeniable (632031) | more than 8 years ago | (#13941241)

Quake 4 uses DirectX (Direct3D), not SGI's OpenGL. A shame, because OpenGL was independent of Microsoft as well as looking better IMO. DirectX gives a cheesecloth effect on underpowered systems - Quake 4 looks as bad on my PC as Unreal did all those years ago. I wonder if the loss of big names like this has hit royalties, or was OpenGL free as in beer?

Can someone explain their market strategy for XFS? (1)

slashdot_commentator (444053) | more than 8 years ago | (#13941257)

Can anyone explain the SGI's decision to open source XFS? What did they envision the results, from a marketing point of view? Were they sucessful in their goal?
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