Their screwy dealings have come home to roost big time - they can't get their 10K in to the SEC and NASDAQ has warned them that they will be delisted next week.
Delisting will make what was previously an easily traded, although rapidly declining, stock very difficult to unload when the last clueless longs finally figure out that the sundeck just slipped below the waves and all the lifeboats are gone.
Seth Jayson, at Motley Fool, calls it SCO's Slow Death Spiral, and points out that Admiral Darl McBride, who is plotting this ship's course into the iceberg, was paid "over $1 million for this kind of leadership, including a $750,000 bonus, plus 78,000 restricted shares of stock and 200,000 options." A $750,000 bonus for the biggest bonehead move ever in the IT industry. Obviously the board at SCO is so tightly wound up in their circle-jerk they haven't come up for air in quite a while. It's almost over, guys. The federal judge in your case all but called you liars and criminals for your performance to date, and decided to give you a few more feet of rope so that when the noose snaps tight, there will be no escape. You morons are doomed, and if justice still exists, more than one of you has a cell waiting.
Enjoy the twilight, idiots. It's the last light you will see for quite a while.
(Somebody please cancel McBride's, Sontag's, and Stowell's passports before they skip for the Bahamas, okay?)
Posted on February 18, 2005 10:11 AM