No great surprise:
Dear SCO Customers and Partners,
This afternoon we took the extraordinary step of filing for Chapter 11 protection in U.S. Bankruptcy Court to protect assets for our creditors and stockholders and to ensure the continuation of our normal business operations. This decision was not taken without extensive consultation with the board of directors, and many outside experts and legal counsel.
SCO intends to maintain business as usual throughout the Chapter 11 proceedings. Subject to court approval, SCO will use the cash flow from its operations to meet its capital needs throughout the reorganization process.
Other companies such as Delta Airlines, Texaco, Dow Corning, K-Mart, United Airlines, Toys R' Us, Macy's Department Stores and others have emerged from Chapter 11 protection after restructuring themselves for success. We intend to do the same.
We value our relationship with you and want to provide the assurance that you can continue to order product, and receive exemplary service and support from us during this restructuring period.
We invite you to consult with your SCO representative if you have any questions or concerns.
President & CEO
The SCO Group
Last I looked, SCOX stock was well under a dollar. If you think they can crawl out of this mess, that could be a great investment. Personally, I think they won't make it.
My wife just asked "What does this mean for your business?" Well,
I've been doing less and less SCO for years now and most of that has been
helping people migrate to Linux.. so if anything, this will just accellerate
those conversions.. so for me, it's probably good news - certainly not
bad news. However, I do know that there are consultants (some of whom
may be reading this) who haven't yet moved toward Linux.. well, if
the handwriting was on the wall years ago, it's a giant billboard
now, isn't it?
SCO Group Files Chapter 11
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More Articles by Anthony Lawrence © 2012-07-12 Anthony Lawrence