July 03, 2006

Day of Reckoning Finally Arrives?

SCOX: Summary for SCO GRP INC (THE) - Yahoo! Finance

As of 9:45 AM CDT:

Down $1.25 in 1 hour and 15 minutes trading. That's over 30% down on volume of 364,000 shares. The rats are fleeing the ship.

The market is bringing delayed justice to this cabal of scammers, pumpers, and thieves.

Goodbye, SCO and good riddance.

Update: 2:30PM SCO has managed to hold the stock price drop to 85 cents, with nearly 900,000 shares sold. Meanwhile, Motley Fool offered the following:

Since October 2003, SCO has burned through about $20 million of cash annually; it has only $18 million left in its coffers now. To keep operations going, SCO is now claiming to innovate in the Unix business again, and going so far as to virtually bribe developers into attending its programming workshops.

The SCO story started as a serious threat to Linux businesses everywhere, but it has downgraded past nuisance status to mere sideshow now, and it's easily forgotten or ignored. The code in question has been through tons of close inspections, with nary an infraction to be found, and it is also continually rewritten. It's safe to say that if there was any unlicensed code to begin with, it's long gone by now.

So long, assholes. I wish I could say it's been fun, but it hasn't. Any outcome that doesn't result with Darl McBride and Blake Stowell in prison is not real satisfying, but I'll take whatever I can get.

Posted on July 3, 2006 09:47 AM