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SCO's Nasdaq Meeting - Still No 10K
Friday, March 18 2005 @ 08:24 AM EST

Remember SCO telling everyone they hoped to file their 10K prior to their delisting meeting with Nasdaq? Bob Mims of the Salt Lake Tribune tells us what happened yesterday at the meeting in Washington, and what leaps out is that they did not file the 10K:

Nasdaq spokesman Wayne Lee said exchange rules prohibited him from discussing the closed-door hearing. SCO spokesman Blake Stowell said Nasdaq did not render a decision immediately, and did not indicate when it would rule.

"We presented our reasons for not filing the form 10-K on time - reasons that have been explained publicly through our press releases," Stowell said. "Our plan remains to get [the 10-K] done very soon."

If the appellate panel decides to proceed with delisting, Nasdaq rules allow SCO to appeal once more to the Nasdaq Listing and Hearing Review Council. However, that second appeal would not halt the delisting itself, only seek to overturn it.

It wouldn't have anything to do with these job listings, would it? It seems SCO is in need of some accounting personnel.

Here are the two jobs in that field still on their website:

Job Title: General Ledger Clerk
Requisition # T1056
Type: Temporary
Posted 11 March 2005
Location: Lindon, Utah
Department: Finance
Reports To: Accounting Manager
Apply Now

Job Description:
Temporary assignment for approximately 3-5 weeks, working 40 hours per week performing account reconciliation and standardization of account recons for numerous operating subsidiaries.

Essential Duties and Responsibilities:
Standardized account recon format for approximately 6 7 international entities using the same template
Standardization of GL codes between international entities
Elimination of unnecessary balance sheet accounts
Up-to-date and current account recons as of specified date

Education, Experience, and Skills

GL experience, particularly with account reconciliation
Ability to work under limited supervision
Understanding of GL processes and transaction flow
Excellent Excel abilities
Strong analytical skills and the ability to learn quickly
International experience preferred, but not required

***********************

Job Title: Accounts Receivable Clerk
Requisition # 40266
Type: Permanent
Posted 11 March 2005
Location: Lindon, Utah
Department: Finance
Reports To: Revenue Director
Apply Now

Job Description:
Responsible for one of more of the following scheduled activities. Works on routine assignments and normally receives detailed instructions on all work.

Essential Duties and Responsibilities:
Set up night batches for shipments from the previous day
Print invoices, the pending invoice register report
Invoice and other data entry
Assist credit with Customer Statement emails
Post invoices to the AR subledger
Create credit or debit memos as required for both revenue and non-revenue related activity.
Assist Cost Accountant in preparing Royalty Vendor Payment Requests
Make adjustments to accounts as needed
Enter offsets, adjustments and write-offs to clear items from aging as requested.
Process final invoices on a monthly basis. This includes any final adjustments that impact revenue
Enter final monthly offsets or adjustments
Copy invoices, purchase orders, contracts, and shipping documents as requested by the Revenue Director
Filing and copying
Assist in other duties as needed

Education, Experience, and Skills

Excellent attention to detail
Work well in a team environment
Able to work with a diverse group of people
Knowledge of Excel and the preparation of a basic spreadsheet
Basic account knowledge. Prior Accounts Receivable experience is preferable
Associate degree; or equivalent from a 2-year college or technical school; or 1 year related experience and/or training; or equivalent combination of education and experience.

I must admit I did a double take. Sometimes people abbreviate Groklaw as GL. So when I saw SCO was looking for "GL experience", I had a bit of a start.

: )

There were four accounting jobs available a few days ago, as I recall, so it seems there are still people willing to work for this company. Maybe they read about the Canopy employee benefits packages when Ralph Yarro was its CEO and President and visions of sugar plums dance in their heads. Whatever the motivation, I'm thinking the only ones applying are those with no real GL experience, though, if you know what I mean.

UPDATE:

I think they might be looking for a senior engineer as well, judging from this posting. At any rate, there's a senior engineer, Bella Lubkin, one of the oldSCO folks and a superlative programmer, I am told, who is looking for work:

"I intend to continue monitoring the SCO newsgroups for as long as it makes sense to do so. That depends partly on what I do next -- if I fill my brain up with Mac OS/X or Linux or something else, the SCO knowledge will rot a lot faster than if I keep working on SCO OSes."

However, since he's been "contaminated" by viewing SCO code, according to his ex-employer's extreme views, how can he work on anything but SCO code? I feel for him, seriously. There probably are ways, but when there is fear in the air, it can interfere with logic. That's the problem with SCO's methods and concepts interpretation. It makes it so hard for a programmer, any programmer, to make a living. Here we have one of the best, and now what can he do? So much damage has resulted from this terrible lawsuit.


  


SCO's Nasdaq Meeting - Still No 10K | 188 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
All kidding aside...
Authored by: Mark Levitt on Friday, March 18 2005 @ 08:51 AM EST
I suspect there are plenty of accountants who make their living by parachuting
into imploding companies and sorting out the mess left by the incompetence
and/or criminality of the CFOs.

[ Reply to This | # ]

Excellent Excel abilities
Authored by: archivist on Friday, March 18 2005 @ 08:54 AM EST
No wonder ther'e in a bad way if their GL is a spreadsheet. I would have
expected a better accounting system! Rank amateurs comes to mind.

[ Reply to This | # ]

SCO's Nasdaq Meeting - Still No 10K
Authored by: Rob M on Friday, March 18 2005 @ 09:07 AM EST
They HAVE accounts receivable??

[ Reply to This | # ]

What about the 10-Q?
Authored by: Anonymous on Friday, March 18 2005 @ 09:12 AM EST

I thought scoxe's quarterly filings was supposed to have been recorded by
yesterday?

Is it okay to not file your 10-Q, if you still haven't filed your 10-K? Or are
they seperate issues?

[ Reply to This | # ]

A possible explanation for SCOs lack of accounting personnel
Authored by: Anonymous on Friday, March 18 2005 @ 09:19 AM EST
They may have been "outsourced" their accounting operations to Canopy.
What with Canopy now having accounting troubles of their own, that arrangement
may have been terminated (perhaps rather quickly).

Understandably, SCO may be reluctant to mention this.

[ Reply to This | # ]

What *is* GL then?
Authored by: mini on Friday, March 18 2005 @ 09:19 AM EST
Could someone please enlighten a non-native english speaker
to the meaning of GL, then?

Thanks.

[ Reply to This | # ]

SCO's Nasdaq Meeting - Still No 10K
Authored by: Anonymous on Friday, March 18 2005 @ 09:26 AM EST
IAAAA (I am an accountant - management not CPA)

The second job is an utterly routine clerical job - nothing to see here.

The first one is more interesting and suggests that there is more than SCO's
publicized explanations for why they haven't filed their annual reports. The
G/L job is a temp one, being brought in to clean up a mess.

Account reconciliations are like balancing your cheekbook - summarizing the
detail that makes up an account balance and the changes in the balance. This is
standard stuff.

The fact that they need to hire a temp to come in clean up the mess suggests,
first that there is a mess to clean up and second that it's a big enough problem
that the auditors weren't prepared to sign off on the subsidiaries' financial
statements. In other words, SCO could have been trying to obfuscate their
financial problems by burying them overseas and having them look odd.

For reference, at a business roughly half a billion dollars in revenue, we get
all the basic reconciliations done each month in about 2 man-weeks of total
effort - the work is split among maybe 10 people. The more complete process for
year and quarter-ends is double or triple that, involving 3 or 4 more people as
well. SCO should probably need about 1 man-week a month and 2-3 man-weeks for
quarter- and year-ends with their regular internal staff.

3-5 man-weeks of dedicated effort from a temp says that there's a real problem
here. They don't know - or can't prove to the auditors - what's going on in the
financials of their subsidiaries.

[ Reply to This | # ]

This was predicted the very first day they missed, and "GL"
Authored by: Anonymous on Friday, March 18 2005 @ 10:20 AM EST
It was predicted they would not file because it's easier to hide themselves or
maybe deal with lawsuits from a small number of people. Instead of facing the
SEC, for example.

As for "GL":

PJ, I think your "General Ledger" GrokLaw is a very effective
accounting book. So far, a lot of debits, but no credits, on the SCO side.

[ Reply to This | # ]

no real GL experience
Authored by: micheal on Friday, March 18 2005 @ 10:21 AM EST
"I'm thinking the only ones applying are those with no real GL experience, though, if you know what I mean."

How about GLT (GrokLaw Troll) experience.

---
LeRoy -
What a wonderful day.

[ Reply to This | # ]

OT: Off Topic Thread
Authored by: micheal on Friday, March 18 2005 @ 10:34 AM EST
SCOXE traded 200,000 shares this morning. Who would buy that many shares in one
batch (other than Yarro trying to get effective control).

---
LeRoy -
What a wonderful day.

[ Reply to This | # ]

SCO's Nasdaq Meeting - Still No 10K
Authored by: blacklight on Friday, March 18 2005 @ 11:05 AM EST
Given these delays, it is safe to presume that SCOG's accounting isuues are
probably more serious than they are willing to admit. It is interesting that
SCOG's still does not an ETA (Estimated Time of Arrival) for its 10-K.

[ Reply to This | # ]

Coincidence?
Authored by: Anonymous on Friday, March 18 2005 @ 11:20 AM EST
The SCO advertisements for clerical help were posted on March 11, 2005. That
was the same day that Canopy and Ralph Yarro came to an agreement that severed
all ties between Canopy and SCO, among other things. So one interpretation of
the job postings is that Canopy used to do the books for SCO but as of March 11
Canopy no longer does so.

-------------------
Steve Stites

[ Reply to This | # ]

SCO's Nasdaq Meeting - Still No 10K
Authored by: Anonymous on Friday, March 18 2005 @ 11:29 AM EST
Unfortunately in this case GL is the acronym for General Ledger

[ Reply to This | # ]

So when will the De-Listing occur?
Authored by: Anonymous on Friday, March 18 2005 @ 12:11 PM EST
So we may celebrate?

[ Reply to This | # ]

JAVA Closed Open Source: HUH! LOL- Here comes the FUD!
Authored by: Anonymous on Friday, March 18 2005 @ 12:47 PM EST
JAVA Closed Open Source<---------------LOL

<Double Speak>

LOL...LOL...LOL

http://www.groklaw.net/portal.php?what=link&item=20050317110742902

Sun Fellow and Java creator Dr. James Gosling had a few choice words to say
about open source licenses in general during the teleconference.

"It's amazing how complicated most open source licenses really are,"
Gosling said. "And there's a growing number of them -- and they're all hard
to decipher. "

"Now some of them have 'contamination' clauses in them -- the GPL is the
poster child for that," Gosling said. "


LOL

"They're causing so much chaos in companies, who tell me: "(Open
source licenses) are just too vague. I can't tell you what they mean. A court of
law couldn't figure this out.' It's just a mess, and they're going to be a
heartache for years to come."

<Double Speak/>

LOL...Tears ..LOL

"Now the Linux kernel and Apache have gained that trust over a number of
years -- they're exceptional"

Oh Truth! What a suprise!

SilverWave not logged in

[ Reply to This | # ]

I'm surprised
Authored by: Tim Ransom on Friday, March 18 2005 @ 12:53 PM EST
that they didn't ask for PhotoShop skills, as I understand Ralph did all the
bookeeping with it.

I think it was the third party eight bit filters that got him in trouble.

---
Thanks again,

[ Reply to This | # ]

Official SCO response thread?
Authored by: aasmodeus on Friday, March 18 2005 @ 02:51 PM EST
So, whatever happened to the "N days without an official response from
SCO" thread? People get tired of hearing nothing? :)

[ Reply to This | # ]

SCO's Nasdaq Meeting - Still No 10K
Authored by: Anonymous on Friday, March 18 2005 @ 03:54 PM EST
Readers of these newsgroups may wish to know that I no longer work for
The SCO Group. It has been an interesting 15 years. Lately that's been
in the sense of the Chinese proverb, "May you live in interesting
times"...

As I depart, intense work continues on the SCO OpenServer 6 "Legend"
project. It's going remarkably well given the immense complexity of the
task. No, I can't give you any more details than the press releases on
www.sco.com.

If I'm in your address book, enter my armory.com address. I understand
that the sco.com address will forward for a few weeks, then it will
start bouncing. belal@sco.com -> bela@armory.com (or belal or filbo).

I intend to continue monitoring the SCO newsgroups for as long as it
makes sense to do so. That depends partly on what I do next -- if I
fill my brain up with Mac OS/X or Linux or something else, the SCO
knowledge will rot a lot faster than if I keep working on SCO OSes.

During what I expect to be a long search for The Perfect Job, I will be
available to do short-term contract projects. You may have an idea of
my areas of expertise from reading these newsgroups. My own idea goes
something like this:

- troubleshooting weird system problems; debugging
- OpenServer kernel
- device drivers
- performance
- security

I don't believe in flashy glitz. I don't even have a real homepage. If
you need my services, you know it. I'm not here to sell you something
you didn't want in the first place.

For consulting/contract matters, contact me at bela_sco@armory.com.

I'm also listed on the aplawrence.com consultant search.

========================================
====================================
=

"The Perfect Job"??

Ideally, I see myself as a troubleshooting spider in the middle of a
software maintenance organization. I have a web of connections with all
the development and maintenance engineers, support, QA, test, doc, etc.
people. I read source code, I watch code deltas, I look at incoming
support requests and bug reports, I monitor customer discussions on
mailing lists and newsgroups. I make connections. People come to me
with weird problems and I mysteriously already know the root cause,
because as soon as I hear the problem description, three other seemingly
unrelated things I had previously observed suddenly click into place. I
don't manage projects or people, I don't write code to spec. Sometimes
I spontaneously write code to solve some problem I've observed.

At SCO, I had business cards printed with the title "Technical
Catalyst". The web form to order cards wanted to know my title; it had
no preconceptions...

In the real world, the closest matches are probably for positions named
something like "Escalations Engineer".

If you're looking for me, or know of someone who is, let me know.

It's been fun,

>Bela<

[ Reply to This | # ]

NASDAQ sent delisting notice to SCO!
Authored by: drichards1953 on Tuesday, March 22 2005 @ 08:00 PM EST
I was sent this in my Dow Marketwatch Newsletter this evening.

SCO receives Nasdaq delisting notice

(SCOXE) By Heather Wilson

SAN FRANCISCO (MarketWatch) -- SCO Group (SCOXE) said after the closing bell
Tuesday that it has received a delisting notice from Nasdaq for failure to file
its first-quarter 2005 10-Q and 2004 10-K on time. SCO said that it has outlined
a plan for filing its delinquent reports with the exchange and that its stock
will remain listed on the Nasdaq SmallCap Market pending a decision.

[ Reply to This | # ]

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