Linked by Thom Holwerda on Thu 14th Feb 2008 21:06 UTC
Having almost disappeared completely late last year, SCO says it has been resuscitated by a new financing plan. Under the terms of the deal, Stephen Norris Capital Partners and "its partners from the Middle East" will supply up to $100 million, enabling SCO to reorganize and launch a new series of products. SNCP will gain a controlling interest in the company, and take it private, allowing it to slip out of Chapter 11 bankruptcy protection. Update: As part of the reorganisation, Darl McBride will be let go. Buried in the proposed MOU (Memorandum of Understanding) between Unix vendor and Linux litigator SCO and SNCP is the note that "upon the effective date of the Proposed Plan of Reorganization, the existing CEO of the Company, Darl McBride, will resign immediately."
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Member since:2005-07-06
Member since:2006-01-04
[I don't mean you Ian...]
Well, here are a few details that may give you a new impression of how The Deal works.
They are putting up $2 million in a trust to pay off current stockholders. Don't want to drive away [the small] investors now, do they? Well. that's about $0.091/share. This news has pushed the stock price up to $0.105, so the soon-to-be-losers in the lawsuit lottery have already lined up and paid their money to be suckered.
They are providing a line of credit for the SCOfflaws to pay Novell and IBM and their other creditors, such as the local pizza company and their expert witlesses that didn't help them in court (no mention of RedHat's Lanham Act suit), @ 17% interest... How much liability is there down the road? Unknown, possibly in excess of a $billion or two? But at that interest rate it at least makes a great write-off in case the investment company scores big on something that actually succeeds.
They do intend to take it private. But if Novell gets $30 million and IBM gets a settlement on the order of multi-hundreds of $millions (possibly $billions if they claim intentional malfeasance, just their legal expenses are running close to $40 million already) then that line of credit and the APR that comes with it will be less valuable than a SCOsource Pee In Your Eye license (no refunds if they lose, but users requested the license to compensate us for our Eye Pee, yeah, right).
News
Linked by Thom Holwerda on 05/22/13 22:23 UTC
"Sony gave the PS4 50% more raw shader performance, plain and simple (768 SPs @ 800MHz vs. 1152 SPs & 800MHz). Unlike last generation, you don't need to be some sort of Jedi to extract the PS4's potential here. The Xbox One and PS4 architectures are quite similar, Sony just has more hardware under the hood. Weâll have to wait and see how this hardware delta gets exposed in games over time, but the gap is definitely there. The funny thing about game consoles is that itâs usually the lowest common denominator that determines the bulk of the experience across all platforms. On the plus side, the Xbox One should enjoy better power/thermal characteristics compared to the PlayStation 4. Even compared to the Xbox 360 we should see improvement in many use cases thanks to modern power management techniques." AnandTech does its usual in-depth thing.
Linked by Thom Holwerda on 05/22/13 13:38 UTC
"The Verge has learned that HTC's Chief Product Officer, Kouji Kodera, left the company last week. Kodera was responsible for HTC's overall product strategy, which makes the departure especially notable on the heels of the global launch of the make-or-break One. It's not just Kodera. In the past three-odd months, HTC has lost a number of employees in rapid succession." I really hope HTC pulls it together.
Linked by Thom Holwerda on 05/22/13 13:30 UTC, submitted by JRepin
"It is with huge pleasure that the Debian GNU/Hurd team announces the release of Debian GNU/Hurd 2013. This is a snapshot of Debian 'sid' at the time of the Debian 'wheezy' release (May 2013), so it is mostly based on the same sources. It is not an official Debian release, but it is an official Debian GNU/Hurd port release." Important note: 75% of Debian packages are supported bu Debian GNU/Hurd. Impressive.
Linked by Thom Holwerda on 05/21/13 22:06 UTC
"The first killer app was VisiCalc. This early spreadsheet turned the Apple II from a hobbyist toy to a business computer. VisiCalc came with room for improvement, though. In addition, a new architecture and operating system, the Intel-based IBM PC and MS-DOS, also needed a spreadsheet to be taken seriously. That spreadsheet, released in early 1983, would be Lotus 1-2-3, and it would change the world. It became the PC's killer app, and the world would never be the same. On May 14, IBM quietly announced the end of the road for 1-2-3, along with Lotus Organizer and the Lotus SmartSuite office suite. Lotus 1-2-3's day is done." Impressive 30 year run.
Linked by Thom Holwerda on 05/21/13 21:45 UTC
"There's a disconnect between how Apple CEO Tim Cook sees his company's tax strategies and how some members of the US Senate view it. That became clearer than ever today after Cook and two other Apple executives testified before Congress, explaining why they're holding most of their international income in Irish subsidiaries like Apple Operations International, which declare no tax residency anywhere in the world. AOI hasn't filed a tax return anywhere in the world for the last five years, yet it earned $30 billion in income from 2009 to 2012, according to a Senate report released yesterday." Just because something is legal, doesn't mean it's just. Apple, Google, Microsoft, and many more - these companies might not be breaking any laws, but it's obvious to anyone that what they are doing is scummy.
Linked by Thom Holwerda on 05/21/13 15:53 UTC
The new WebKit Opera for Android has been released. "Opera 14 for Android is built on top of Chromium 26, with a total overhaul of the UI in native code, making it fit well with the latest Android design guidelines. Go get the build from Google Play or point your browser to m.opera.com, and give it a spin!"
Linked by Thom Holwerda on 05/20/13 22:43 UTC
The Verge pointed me to a blog post by Leap Motion - which reveals how their Kinect-like motion control works with Windows 8. "From the second you plug in your Leap Motion Controller, you'll be able to browse the web and interact with your computer just by moving your hands and fingers in the air. With Leap Motion technology and Windows, you can do everything that's possible with multi-touch inputs - without actually touching anything. This also means that existing applications in Windows 7 and 8 will respond to your natural hand and finger movements. Soon, we'll show you how Leap Motion will work with Mac OS X." Quite cool.
Linked by Thom Holwerda on 05/20/13 21:50 UTC
PocketNow interviews Marc Dillon, and there's an interesting note about why Jolla is keeping the display properties under wraps: "We're leaving some of those details out because we do understand that there are a lot of really big players in the market and they tend to take certain components in the market and dominate them. We created the ability to actually be able to run Sailfish on multiple hardware displays and be able to swap components, so this is part of the demand and supply planning phase. We are committed to this industrial design which is a 4.5-inch display, an 8 megapixel camera on the back and a front-facing camera at the front, and the exact specs of the display we'll provide when we're close to delivery." Something you rarely hear anything about.
Linked by Thom Holwerda on 05/19/13 23:15 UTC
"This is my NeXTstation Turbo Color booting the Mac System 7.1 Operating System using a hardware add-on called 'Daydream'. The Daydream has a Mac ROM and a few custom ICs in it and hooked up to the NeXTs DSP port. Turns your NeXT into a full fledged 68k powered Mac." So cool.
Linked by Thom Holwerda on 05/19/13 23:11 UTC, submitted by Drumhellar
"The NetBSD Project is pleased to announce NetBSD 6.1, the first feature update of the NetBSD 6 release branch. It represents a selected subset of fixes deemed important for security or stability reasons, as well as new features and enhancements. Please note that all fixes in the prior security/bugfix updates (NetBSD 6.0.1 and 6.0.2) are also in 6.1."More News »
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Member since:
2007-12-13
"Controlling Interest" ?!
WTF - The market cap is $2M, if they've got $100M, they could buy it outright and take it private at a tiny fraction of the cost...