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Half of SCO's Accountants Quit

Zonk posted more than 5 years ago | from the rats-know-when-to-leave-a-ship dept.

It's funny.  Laugh. 371

Groklaw Reader writes "Apparently, SCO's lawyers were working overtime last Sunday, because they wrote a quick plea to the bankruptcy court for permission to hire accounting temps. Why? Approximately half of SCO's finance department has resigned or been fired. Two who resigned had over ten years of experience each. One can only assume that they know what's about to happen to SCO."

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371 comments

Yet more communist gloating (-1, Flamebait)

Anonymous Coward | more than 5 years ago | (#20645159)

Truly a sad day for the American Dream [shelleytherepublican.com]. With the surprising and disturbing [shelleytherepublican.com] rise of Linux patriots must, like that great soldier of Christ General Petraeus, do everything they can to protect our democracy and way of life [shelleytherepublican.com].

Re:Yet more communist gloating (0, Offtopic)

fsmunoz (267297) | more than 5 years ago | (#20645287)

Ahahahahah, brilliant. I'm curious enough to risk being offtopic: is that Shelley page some kind of Onion? Or is it for real? This is not a funny question, I'm getting mixed signals from reading it. It looks like something like the Onion by the sheer absurdity and language used, even the comments are brilliantly funny, but one never knows...

Re:Yet more communist gloating (-1, Offtopic)

Anonymous Coward | more than 6 years ago | (#20645399)

It is of the same intellectual caliber as the Emmy- and Peabody-Award winning Colbert Report.

More like a parody of a certain Foxblogger (-1, Offtopic)

sethstorm (512897) | more than 6 years ago | (#20645819)

Think of it as the parody of Ms. Malkin and the rest of the closed minded Pajamas Media group with a pinch of rabid supporters of LGF. Add a parody of the "No Surrender" shirt, and you have the complete picture.

Almost done. (5, Funny)

Anonymous Coward | more than 5 years ago | (#20645163)

Good!

Half the accountants? How about some of the lawyers too?

I guess the rats are leaving the ship.

Re:Almost done. (3, Interesting)

betterunixthanunix (980855) | more than 6 years ago | (#20645549)

I wonder what would happen if there were no employees left? What would the bankruptcy judge do?

Re:Almost done. (4, Informative)

jcr (53032) | more than 6 years ago | (#20645661)

With no employees, it would be up to the officers of the corporation to execute any orders the judge issued to the corporation.

-jcr

Re:Almost done. (2, Interesting)

Dynedain (141758) | more than 6 years ago | (#20645669)

Not possible. There still would be at least the executive board of the company (CEO, CFO, and whoever else might be on the board of directors). They may be unpaid, but they are in effect the responsible entities for the corporation. By definition (both legally and practically) you cannot have a corporation without an executive board.

How do we know half the accountants quit? (5, Funny)

Anonymous Coward | more than 6 years ago | (#20645967)

Who counted them?

Re:Almost done. (4, Interesting)

semiotec (948062) | more than 6 years ago | (#20646027)

while I am as glad as most people here about SCO's deserved and inevitable downfall, sometimes I couldn't help thinking whether it would have been better if Novell hadn't stepped into this fight.

Sure, I understand that they are protecting their rights and IP and that they are right to do so. But by pulling the carpet out from under SCO's feet, they also prevented SCO's claims that "millions of lines of codes were copied from UNIX to Linux" being thoroughly tested (and debunked) in court.

I think that it was a good thing that SCO targeted IBM, who 1) had the resources to fight SCO (and their sponsors), and 2) happened to be on the side of Linux developers/users. So it would have been an excellent opportunity to quash this claim once and for all. Despite SCO's bluster and chest-thumping, I think it would have been extremely unlikely for them to be able to convince any person of even limited intelligence of their claims (including Enderle, Didio and O'Gara).

But all we have now is a statement from Novell saying that there is no Unix in Linux. With Novell being so deep in bed with Microsoft, I am slightly nervous with Novell's overall position and and disposition towards Linux.

Can't pay themselves (5, Insightful)

no_pets (881013) | more than 5 years ago | (#20645175)

Heck, the accountants probably know that there is no money to pay themselves. So, why work?

Re:Can't pay themselves (5, Interesting)

ackthpt (218170) | more than 5 years ago | (#20645261)

Heck, the accountants probably know that there is no money to pay themselves. So, why work?

Reminds me of a company I once worked for. The accountants (finance people) were sworn to some sort of secrecy not to disclose to other employees what they were doing. Basically only paying accounts when there was dire cause (and in some instances the cheques were immediately pulled from the mail bin and locked in a drawer after the vendor agreed to free things up.) After the fall someone finally told me what was going on. Accountants know the games that are played to keep a semblance of business as usual even when the precipice is looming

Those who stay on risk receiving pay cheques which will not cash.

Re:Can't pay themselves (0)

Anonymous Coward | more than 6 years ago | (#20645489)

who the hell receives pay cheques anyway? doesn't everyone have their pay deposited straight into their account these days?

well, no they don't (1, Funny)

Anonymous Coward | more than 6 years ago | (#20645835)

No. I do my own banking, employers who owe me money give me checks, and then I decide where to cash them or what account to put some in or whether or not to just carry it around in the form of "cash". And I also don't tremble in mortal fear when carrying said sums of cash about either, any size, because I am quite capable of personal self defense, by skills, training, mindset and tools, and am perfectly willing to completely and probably permanently ruin some potential mugger's day without suffering angst over it. Nor do I use some plastic card for every single transaction. Nor am I ever going to get "chipped" or trust my account to some telco vendor and cheap piece of plastic cellphone and "wave" it around to purchase things.

Believe it or not, some people haven't fully adopted the metrosexual lifestyle. And I drink plain coffee, black, and it doesn't come *ever* from a "must be seen there" trendy coffee shoppe. And the only thing I "mash up" is potatoes, and I use sharp pointy bent pieces of thin metal to catch fish with, not as sexual adornments or "fashion statements".

Generalizations don't work very well in most circumstances, now do they?

Not Neccessarily (1)

Nymz (905908) | more than 6 years ago | (#20645971)

Those who stay on risk receiving pay cheques which will not cash.
While it's entirely possible that some employees resigned because they feared of not getting paid, it's more likely that proactive employees have been 'on the hunt' for a better job for many months, and left when their 'ship came in'. These events often coincide with a company 'lettting go' a few of the less valuable employees, in the process of downsizing.

Re:Can't pay themselves (0)

Anonymous Coward | more than 6 years ago | (#20645341)

"Lost job due to bankruptcy of employing company." How's that for a bullet point on an accountant's resume?

Re:Can't pay themselves (1)

betterunixthanunix (980855) | more than 6 years ago | (#20645525)

Probably not as bad as it sounds. Companies go bankrupt all the time, and it is not the fault of the accountants (in most cases). It's not like, "Lost job due to largest security exploit in history," on a programmer's resume.

Now, if it were on one of the manager's resumes, that might be a little worse.

Re:Can't pay themselves (1)

twistedcubic (577194) | more than 6 years ago | (#20645637)

But the accountants know better than anyone else where payroll funds come from, and probably whether there is enough money there

Re:Can't pay themselves (1)

extremescholar (714216) | more than 6 years ago | (#20645713)

Been there, done that. The economy was crap (2001) and I couldn't find a job anywhere else. I told them up front that if I didn't get paid, they've wouldn't get any work. Fortunately, they never missed a payday, or I'd have been gone regardless. It gave me a lot of good experience from an accounting point of view.

Crumble Crumble.... (4, Interesting)

beheaderaswp (549877) | more than 5 years ago | (#20645183)

I think the biggest worry I have now... which may actually be moot- is who ends up with SCO's assets and IP?

Once they hit chapter 7, as the money runs out, the court will dismember them. Hopefully, the assets they do have end up with IBM.

I'm not so sure about Novell's alignment in the open source world yet.

But even better is this:

If one of their accounting people was a CPA- they could be in deep do do if
there are problems found.

I know this, I'm watching a corporation pull the bond out from under a CPA right
now. The liabilities are incredible and the end game is scary.

Maybe an accountant will have damaging information heh?

Re:Crumble Crumble.... (1)

tgatliff (311583) | more than 5 years ago | (#20645235)

I guess it depends on what "assets" you are talking about. Most of the time for situations like this, the person who gets the assests is the first to run off with it... When it get to this point, it is kind of a every man for himself type business model...

Re:Crumble Crumble.... (5, Funny)

Daimanta (1140543) | more than 5 years ago | (#20645281)

Once they hit chapter 7, as the money runs out, the court will dismember them.
Ouch, please remember me never to get bankrupt.

SCO's assets and ip (4, Insightful)

falconwolf (725481) | more than 6 years ago | (#20645547)

I think the biggest worry I have now... which may actually be moot- is who ends up with SCO's assets and IP?

What assets and ip?

Falcon

Re:SCO's assets and ip (5, Informative)

InvalidError (771317) | more than 6 years ago | (#20646005)

According to filings, SCO has a $7.5M outstanding debt and about $15M in cash or other assets.

However, SCO is also illegally holding onto ~$36M of Novell's Unix licensing loyalties.

The one who will get first dibs on SCO will be Novell since that ~$36M is Novell's capital (not a debt/credit) which SCO is trying to convert (fraud) into its own... a detail which SCO apparently conveniently failed to mention to the bankruptcy judge in the first hearing.

Novell licensed its Unix to SCO and asked for a ~95% royalty on sales. SCO sold Unix licenses but never gave any of the money back to Novell. Novell is suing to get this capital back. SCO does not want to be curbed right away so it now attempts to stall by filing for bankruptcy. Tomorrow, Novell, IBM, RedHat and others will surely point out the many faults in Monday's SCO declarations and the judge will very likely order the Novell vs SCO counterclaims suit to proceed in order to establish how much capital SCO owes Novell since settling capital disputes preempts negotiating debts.

By the time chapter 11 proceedings are completed - presumably after Novell is awarded about $20M - SCO will be ripe for chapter 7.

Re:SCO's assets and ip (0)

Anonymous Coward | more than 6 years ago | (#20646035)

The Linux source code, right?

Novel has the IP already (2, Informative)

flyingfsck (986395) | more than 6 years ago | (#20645701)

as proven by the court and who the hell wants a bunch of 2nd hand SCO servers?

Re:Novel has the IP already (1)

taniwha (70410) | more than 6 years ago | (#20645887)

well not strictly - SCO still has the right to control its use to some extent - but, more importantly, under Novel's contract with SCO if SCO becomes bankrupt (ch 7, not 11 I think) all the Unix IP reverts directly to Novell ....

Need to accrue Novell payment? (3, Interesting)

seanadams.com (463190) | more than 5 years ago | (#20645187)

Something I have not seen mentioned yet is whether SCO needs to accrue an estimate of what they should be paying Novell - whether they have the cash or not, it needs to go on the books. Their current balance sheet does not reflect it, which is probably one reason why the company is still grossly overvalued at $4.72M.

Re:Need to accrue Novell payment? (5, Interesting)

Anonymous Coward | more than 6 years ago | (#20645511)

At a reasonable guess, the accountants quit/were fired because they refused to sign the financial statements that were submitted with the Chapter 11 filing. Signing those statements would be professional suicide for any accountant. SCO is probably going to find it difficult to hire anyone who has the necessary standing to vouch for the correctness of an out of date balance sheet whose date was changed.

I think we can now expect the FBI will soon start hauling in SCO officers and lawyers on RICO and SEC charges. Fraud doesn't get much more blatant than submitting such obviously bad financials to a bankruptcy court.

Re:Need to accrue Novell payment? (-1, Troll)

Anonymous Coward | more than 6 years ago | (#20645795)

listen up jackass, they were delisted. That means the SEC doesn't care about them. Go masturbate to britney spears crotch shots and leave the conversation to people with a clue.

Re:Need to accrue Novell payment? (1, Informative)

Anonymous Coward | more than 6 years ago | (#20645997)

listen up jackass, they were delisted. That means the SEC doesn't care about them. Go masturbate to britney spears crotch shots and leave the conversation to people with a clue.

They were trading today. Opened at $0.31 closed at $0.22. So just when were they delisted?

They have applied for Chapter 11 Bankruptcy no more no less. They haven't been delisted and the application for Chapter 11 has not yet been granted.

The SEC responsibility does not end when the company is delisted as it can still be publicly traded in other ways and any action during the period they are publicly traded is the responsibility of the SEC. Even if some idiot bought up SCO and took it private tomorrow all actions up until that point could trigger SEC action. It doesn't stop being a crime just because a company goes bankrupt or is taken private, what happened still happened and if a crime is still eligible to be prosecuted.

They are still listed, lots of trades on Monday (1)

davidwr (791652) | more than 6 years ago | (#20646003)

Unless they got delisted after the close of business Monday, they are still trading [yahoo.com].

As of 4PM EDT, they were at $0.22/share, for a market cap of around $4.7M.

At some point it's going to be cheaper for Novell to offer to offer to buy all outstanding stock at market price and settle the suits with IBM and the rest than it will be to keep paying the lawyers. Unfortunately, that means the SCOundrels owning significant shares will walk away with something more than $0 to show for it.

Re:Need to accrue Novell payment? (5, Insightful)

HiThere (15173) | more than 6 years ago | (#20645515)

There's a problem here. Novell's money is Novell's, SCO is just holding it for them.

As such, SCO can't legally use Novell's money to pay it's own debts. "Unfortunately" SCO has been keeping lousy books, and didn't keep straight which money was Novell's. The legal hearing that they've stalled with this bankruptcy plea was to determine the size of the amount of money owed to Novell.

As such, I think any CPA involved in this scam *SHOULD* be in serious trouble. It's not certain that this will pierce the corporate shield, and allow Novell to go after the management & the board's personal assets...but it's also not clear that it won't.

Another interesting question is criminal charges. Clearly several laws have been broken, and felonies have been committed. It's not clear that any charges will be filed. "The corporation did it" is a common defense, even when all acts of the corporation were, in fact, performed by people. Personally I would rephrase "the corporation did it" by "it was a conspiracy", but this doesn't seem to be legal custom.

Caution: IANAL

Re:Need to accrue Novell payment? (0)

Anonymous Coward | more than 6 years ago | (#20646025)

Criminal charges for what? Lousy books? How about I sue the next door deli for making a lousy gyro.

Re:Need to accrue Novell payment? (1)

falconwolf (725481) | more than 6 years ago | (#20645597)

Something I have not seen mentioned yet is whether SCO needs to accrue an estimate of what they should be paying Novell - whether they have the cash or not, it needs to go on the books. Their current balance sheet does not reflect it, which is probably one reason why the company is still grossly overvalued at $4.72M.

From what I recall Novell asked the judge to create a trust the money Novell is owed, or claims to be owed, can be put into. But SCO argued it had the money and could pay if ordered.

Falcon

Re:Need to accrue Novell payment? (0)

Anonymous Coward | more than 6 years ago | (#20645731)

BFD - so they set up a trust.

The real point is HOW MUCH should go into the trust?

If SCOX's books are in shabby shape - and the departure of the
accountants means that from today, the books probably are not
being kept in accordance with generally accepted accounting standards
(if they ever were) - who is to say exactly how much money is at stake here?

All we'll see from now is a lot of finger pointing, with the temps saying
the Old Guard did it, the Old Guard saying the temps are incompetent and/or
that Darl told them to do it that way, and Darl will be pulling the strings.

If I were one of the accounting professionals who has recently
departed, I'd hire myself a lawyer, then have him/her accompany
me to the federal courthouse while I gave a complete deposition
to the Feds. (By "Feds", I mean either the SEC or the DOJ or, for
that matter, any other interested federal agency). I just hope that
the US Department of State has pulled Darl's passport, as well as those
of the rest of his brain trust and the BOD.

In other news... (2, Funny)

nebaz (453974) | more than 5 years ago | (#20645195)

SCO sued Novell, IBM, and Anderson Consulting, declaring that SCO owned the intellectual property entitled "Accountant" and that their proposed licensing scheme of $699 per day, per "accountant", had been rebuffed by said companies. Details to follow.

That counts for something! (1)

Algorithmnast (1105517) | more than 5 years ago | (#20645215)

Well the fact is, the accountants aren't liable for any of SCO's sins. However, if they know that the company hasn't got the cash - or the cash flow to pay them, then I can understand why they'd quit.

Being the accounts, I would expect them to be in a pretty good position to know the financial reality of the company.

Re:That counts for something! (2, Insightful)

ScrewMaster (602015) | more than 6 years ago | (#20645365)

Well the fact is, the accountants aren't liable for any of SCO's sins.

They would be if any of those sins included some creative accounting, which is certainly a possibility.

What about the other half? (4, Insightful)

Trillan (597339) | more than 5 years ago | (#20645247)

Seriously, what about the other half? Do they have some sort of personal reality distortion field?

Re:What about the other half? (3, Funny)

ackthpt (218170) | more than 5 years ago | (#20645315)

Seriously, what about the other half? Do they have some sort of personal reality distortion field?

They've either got iron-clad guarantee of compensation or they are afraid to leave, go look for another job, what have you.

Ultimately they will all likely find things do not work out and that Bob is indeed not their uncle.

Pessimist. (5, Funny)

Weaselmancer (533834) | more than 5 years ago | (#20645317)

Darl can totally turn this thing around. Just you watch. It's just another minor setback. They'll be vindicated - just you see. Soon as they get over this small bump, they'll start raking in the cash from all those UNIX licenses that they're going to get from every single Linux user out there. Just as soon as...

Ok, a joke's a joke but I can't type anymore. My fingers started spontaneously bleeding.

Re:Pessimist. (1)

Trillan (597339) | more than 6 years ago | (#20645345)

Okay, you've convinced me. I'm off to purchase some SCO stock... it's such a bargain! :)

Re:Pessimist. (4, Funny)

Weaselmancer (533834) | more than 6 years ago | (#20645353)

Dude, this is the best time to get in on it! It can ONLY GO UP!

Re:Pessimist. (2, Insightful)

Trillan (597339) | more than 6 years ago | (#20645463)

The funny part is if it drops a little more, it will be such a bargain that it'll be at least as good a value as a lottery ticket...

Re:What about the other half? (1)

budgenator (254554) | more than 6 years ago | (#20645579)

who knows maybe going through a bankrupcy is worth more in experience than they're paid anyways
a resume sent to IBM could read "Knows where SCO's skeletons are buried"

Re:What about the other half? (3, Funny)

SpaceLifeForm (228190) | more than 6 years ago | (#20645861)

Translation: Nearly half resigned, and nearly half were fired.

They have no one left to cook.

A short trip (2, Funny)

kryten_nl (863119) | more than 5 years ago | (#20645257)

The two accountants with the longest experience immediately took a weekend break in Switzerland, to do some skiing (and visiting friends in the banking sector).

Well, which is it? (0)

Anonymous Coward | more than 5 years ago | (#20645271)

Given SCO is petitioning to spend money on replacements, isn't it relevant if they a.) quit or b.) were fired? My understanding of bankruptcy is that you in general need permission to spend money, so doesn't it make a difference if this was self-inflicted or beyond their control?

New Tag - (1)

capnkr (1153623) | more than 5 years ago | (#20645285)

ratsfleeingship ;)

Couldn't have happened to a better company.

Let's just hope that Darl etc get some jailtime before it's all said and done with...

Those can't have been very good accountants... (1)

mkweise (629582) | more than 5 years ago | (#20645291)

...if they didn't know 'til the bankruptcy filing that it's time to abandon ship.

Re:Those can't have been very good accountants... (1)

irtza (893217) | more than 6 years ago | (#20645687)

any good capitalist knows that you milk a cow for all its worth. SCO could pay them up until now, so why would you leave beforehand? Now that they may not receive a paycheck, its time to leave.

Yay! Gloating! (-1, Flamebait)

heinousjay (683506) | more than 5 years ago | (#20645299)

Just remember this when you geeks try to pull some moral high ground shit later. You're the same shitty people as everyone else. You just have more self-righteousness to spread around like rancid butter.

Re:Yay! Gloating! (1)

Linker3000 (626634) | more than 6 years ago | (#20645389)

Hey Darl, how's things with you?

Re:Yay! Gloating! (0, Troll)

heinousjay (683506) | more than 6 years ago | (#20645395)

Good reply, really on point. I have no love for SCO, but in truth, the character of a man is best revealed in his behavior after victory. I expect this to be a very illuminating story on the moral fiber of many of you.

Re:Yay! Gloating! (1)

SatanicPuppy (611928) | more than 6 years ago | (#20645565)

I'm not sure what it says about your moral fiber that you're hot and bothered at the thought of geekish gloating, which you can then condemn. It's like the preacher taking names outside the titty bar...Sure he's there to look down on the patrons, but the simple fact of the matter is, he's also standing outside the titty bar. If he wasn't interested, he'd be somewhere else.

SCO is pathetic. I won't waste my scorn on them. Still, I can't help imagining what their attitude would be if the situation was reversed. Would they be magnanimous in victory?

Somehow I doubt it.

Re:Yay! Gloating! (1)

heinousjay (683506) | more than 6 years ago | (#20645593)

I'm not hot and bothered at all. Don't go ascribing motivations when the internet makes them totally opaque.

Obviously, I would expect SCO to be quite awful in victory. Tell me, does that fact mean that it's somehow OK to mirror their actions as a sort of retaliation? Has that particular line of thinking ever been valid?

Re:Yay! Gloating! (2, Insightful)

SatanicPuppy (611928) | more than 6 years ago | (#20645717)

No, I'm simply saying that while sure, in a perfect world where everyone is lawful good and all is sunshine and bunnies, it might be reasonable to expect the victim to be better than the aggressor, to show mercy even when they know none would have been shown them.

But here, in this world, it is far more likely that the many enemies SCO has made for itself will be lining up to tear bits out of them in any way they can, and while I personally take no joy in the fight now that it's over, I'm not going to start throwing moral judgments at the victors when they start doing as victors will.

It's just the way of the world.

Re:Yay! Gloating! (1)

DarkVader (121278) | more than 6 years ago | (#20645829)

That's kind of like saying the Allies shouldn't have celebrated after the defeat of Nazi Germany.

(oops, did I just Godwin the thread?)

Re:Yay! Gloating! (1)

dAzED1 (33635) | more than 6 years ago | (#20645947)

we're not the victors. We were collateral damage, spectators that were too close to the flame.

Are there any cliche', meaningless sayings for the character that is revealed of a person after a competition of which they weren't directly a part?

2 football teams play, one wins, the winners (hopefully) are gracious to the losers. But in the stands, the audience is certainly expected to be cheering their asses off, talking about their favorite plays during the game. That's us. So, get over it.

explain please, (0, Flamebait)

unity100 (970058) | more than 6 years ago | (#20645527)

if you are not a geek yourself, what the hell are you doing here ...

Re:explain please, (-1, Flamebait)

heinousjay (683506) | more than 6 years ago | (#20645567)

Trolling the board, obviously. I'm a little too social to be a geek. I never developed the requisite disdain for people. Also, I shower. So I have that "against" me as well. And I don't get religious about technology. I do have the intelligence, I just happened to pick up other traits geeks don't seem to have.

I'm aware this was not the explanation you're looking for, Sorry.

Re:explain please, (3, Funny)

AJWM (19027) | more than 6 years ago | (#20645639)

I just happened to pick up other traits geeks don't seem to have.

Sanctimoniousness, for one.

Awesome (0)

Anonymous Coward | more than 5 years ago | (#20645311)

This is just so good I want to have sex with it

Half of seven? (5, Insightful)

Fred Ferrigno (122319) | more than 5 years ago | (#20645319)

Groklaw says they started with seven accountants. "Approximately half" is either 3 or 4, and I'd wager that they would have said "more than half" if it were 4. Two of them were the 10-year veterans who resigned, leaving just one guy who was fired.

They are doing this to save their future (1)

GnarlyDoug (1109205) | more than 6 years ago | (#20645393)

We all know that SCO did a lot of shady, probably illegal activities. IMO these guys are getting as far away as they can while the getting is still good. Expect to see some of them giving testimony aginst SCO in future legal proceedings.

I REALLY ENJOY THIS (1)

tjstork (137384) | more than 6 years ago | (#20645419)

I shouldn't, I know, enjoy the idea of a company going completely down in flames... but SCO has such a special place in my heart, that I simply cannot help.

Good riddance!

Re:I REALLY ENJOY THIS (1)

flyingfsck (986395) | more than 6 years ago | (#20645823)

Yup, I think everyone that was trying to do Linux consulting work during the past few years must feel some resentment towards SCO. It is impossible to judge how much they hurt the growth of Linux in the corporate environment.

Seven people in accounting? (2, Insightful)

DaleGlass (1068434) | more than 6 years ago | (#20645425)

What's there to account at SCO besides the wages? Do they even still sell something?

Re:Seven people in accounting? (1)

betterunixthanunix (980855) | more than 6 years ago | (#20645461)

Yes. As someone commented in the last article about SCO (announcing their bankruptcy filing), they recently completed a large contract to some company somewhere. Whoever signed that deal must really hate themselves right now.

Re:Seven people in accounting? (1)

HiThere (15173) | more than 6 years ago | (#20645629)

IIRC, the "large contract" was to sell software to some bank in Russia. Don't know how large the contract was, as I didn't bother to look. Now if we were to consider why a bank in Russia would buy their software from SCOg, then we might begin to speculate that the bank wasn't surprised at this result...and may have received other considerations that make the contract worthwhile as long as they don't have to actually *use* SCOg's software.

(If you doubt my assessment of their software quality [fair, since I've neither used it nor read the documentation]...consider what their customers have been doing.)

Re:Seven people in accounting? (1)

betterunixthanunix (980855) | more than 6 years ago | (#20645657)

Well I agree with you on their software quality. If they were creating software that was worth the price they charge, compared to other systems, SCO wouldn't be in this mess. That was apparent the moment they started demanding IP royalties like some kind of patent troll.

Re:Seven people in accounting? (5, Interesting)

sfonative (1031350) | more than 6 years ago | (#20645719)

"Do they even still sell something?" ........

I work in IT at a small company that uses SCO unix on some servers. We configured a new server and had to buy another license about six months ago. (Don't shun me. We also have several linux servers, but this one needed SCO.)

I was on the phone with our vendor and said to him, "We may be the last people to ever buy this."

He replied, "You're probably right."

Oooooh! (1)

fm6 (162816) | more than 6 years ago | (#20645447)

This sounds like a big deal, until you get to the part where SCO only had 7 accountants! So 3 or 4 people quit or were fired. Not the most shocking event at any company, never mind one that's just declared bankruptcy.

Ethics lapses and no pay = grumpy accountants (2, Insightful)

christian.einfeldt (874074) | more than 6 years ago | (#20645591)

In the wake of Enron, etc., accountants are looking over their shoulders whenever they are asked to do something unethical. I am betting that not only are the accountants seeing that they might not be paid on time or at all, but they are also seeing that they are being called upon to do something unethical, something that would be a blight on their careers.

You can bet that these accountants were not working for SCO because they loved Daryl. So late or non-existent pay + ethical lapses = hasta la vista, baby.

When the accounts pack up - run! (5, Insightful)

flyingfsck (986395) | more than 6 years ago | (#20645607)

In my experience, when the accountants pack up their stuff, then you should trample them on the way out, cause you are likely not going to get paid for that month - Better to start your job search early than wait for the bouncing salary cheque...

The sad thing really is (0, Redundant)

highwaytohell (621667) | more than 6 years ago | (#20645641)

The investors out there who will be losing money. And I'm not talking the megabucks investors, just the mum and dad investors who have no idea what Linux is and no idea what IP is, but just looked at the stock and thought this may be a good thing. SCO will file, they'll lose all their money. Sure it's great to see a pack of assholes go down, but its a real shitty thing to see them take good people with them.

Re:The sad thing really is (3, Insightful)

DarkVader (121278) | more than 6 years ago | (#20645899)

Anybody who invests in a company without doing some basic research (I'm not talking hard stuff here, just the first page of google results) is asking to lose their investment.

And SCO is a penny stock at this point, nobody who is sane and worried about their life savings invests in those.

Re:The sad thing really is (1)

Mspangler (770054) | more than 6 years ago | (#20646015)

"The investors out there who will be losing money".

According to the bankruptcy filing there are only 402 stockholders. Not likely to be many from the mom and pop group in there.
A few slow-witted mutual funds will get hit. Most of the stock was to the corporate officers. The suspicion for some time is that they were buying and selling it from each other to try to keep the price up over a dollar.

In retrospect... (1)

erroneus (253617) | more than 6 years ago | (#20645685)

...if you were running a fairly popular and active business and Microsoft bought a ridiculous amount of useless crap from you, would you then be inspired to file stupid lawsuits against other businesses that Microsoft might consider an opponent?

Novell sends in the big guns (5, Informative)

Anonymous Coward | more than 6 years ago | (#20645693)

Novell is sending five lawyers to tomorrow's hearing. Their resumes are truly impressive. It's all part of the greater scheme to leave a smoking crater in Utah.

They will probably be trying for two things:
  1. SCO's attempt at chapter 11 gets rejected on the grounds of bad faith. groklaw post [groklaw.net]
  2. Even if they don't get chapter 11 pitched, they want the trial in Utah un-stayed.
Given SCO's record, it seems likely that Novell will succeed. Given a checklist for bad faith in bankruptcy, SCO meets most of the criteria.

It seems to me that SCO's bankruptcy petition is a bit of a Hail Mary pass attempt. I'm not sure what else they were supposed to do though. Their goose has been cooked for quite a while and they have been doing a masterful job of putting off the final resolution as long as possible.

challenges to open source (1)

timmarhy (659436) | more than 6 years ago | (#20645751)

Just goes to show... open source is like a puppy with a nasty bite. looks defencless, but pat the puppy in a place it doesn't like and you get gashed. same thing happened to bell with BSD

Re:challenges to open source (1)

bigstrat2003 (1058574) | more than 6 years ago | (#20645935)

Huh? This says more, to me, that you should be prepared to fail if you're going to pin your hopes on patent trolling. Nothing about open source.

I would love to be a SCO accountant (1)

Schlemphfer (556732) | more than 6 years ago | (#20645837)

Where else could you find an accounting job where you never have to enter or review data on account receivables?

Congratulations, Groklaw and PJ (-1, Troll)

Anonymous Coward | more than 6 years ago | (#20645851)

Your years of efforts and lies have finally paid off. Good people with families have been put out of work.

I'm sure Arch-Censor PJ will be waiting with open arms and jobs for all those displaced SCO employees. What's that? She won't?

Rats fleeing (3, Funny)

jpvlsmv (583001) | more than 6 years ago | (#20645931)

Remember, the correct response is not "Gee, I bet that's a nice ship now that all the rats have left".

--Joe

More like Don't want to be involved (1)

kawabago (551139) | more than 6 years ago | (#20645937)

More like they don't want to be involved in what SCO is planning next. They don't want to go to jail!

Stock plumetage continues... (0)

Anonymous Coward | more than 6 years ago | (#20645987)

There stock is still worth $0.22 a share... apparently somebody hasn't gotten the message yet!


Sell! Sell! SELL!!!


Uh... to whom?

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