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January 12, 2009

To most people that have been following the SCO debacle (controversy is a better word), it's now very clear that the company is finished. Crashed and burned as some would say in the Navy.

But surprisingly, SCO is now continuing its ill-based lawsuits, in a last-ditch attempt to save itself it claims... But the company is already dead, so there's nothing else to save! It's way too late for that.

Challenging the legal system to its very limits, SCO has now filed another (the third one) bankruptcy reorganization plan with the federal bankruptcy court in Delaware last Thursday.

SCO's tenacious CEO Darl McBride has explained one more time this latest last-minute turn in a public letter.

McBride explained that, "SCO has been working over the past nine months with several investment groups to formulate yet a new investment plan. (!) With the tightening of the world financial markets, it has been increasingly difficult, if not impossible in securing a corporate salvation plan prior to the restructuring filing deadlines."

Wow!

McBride's letter goes on to say "but SCO continues to work diligently with its various investment bankers who could potentially come forward with an investment plan to acquire certain SCO assets."

What is McBride smoking these days?? Is he for real?

To most people in the Linux community, SCO has been looking for someone crazy enough to sink even more money in its rapidly sinking ship (most think the ship is already firmly sitting on the bottom of the ocean) for over a year.

On Feb. 15, 2008, SCO thought it had found its final savior in the name of Stephen Norris & Co. Capital Partners and its Arabian oil billionaire friends... Understandably, these friends of Bill Gates backed out of the deal at the last minute and haven't been seen since.

SCO then has been looking for a 'crazy' bail-out investor ever since. Of course the word bail-out now has been a very popular term for the past few months...

At any rate, the idea that someone would actually invest tens of millions of dollars in an almost 100 percent sure-to-lose business proposition is outright stupid and dosen't hold any credibility at all. In this uncertain economy, for anyone with a sound mind to pour serious cash into SCO is simply insane at the very least.

It's hard enough to get anyone to invest in perfectly sound and healthy companies...

Source: Linux News Today.

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