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BayStar Capital Liquidating
Thursday, July 07 2005 @ 01:33 PM EDT

Reuters reports that BayStar Capital is liquidating "amid management disagreements", and that Larry Goldfarb is launching a new hedge fund that will do what BayStar Capital did.

Well. Probably not exactly. That might lead to "management disagreements." Liquidation even.

Joke. Joke. What Reuters means is that it will "practice the same strategy" -- that is, be a hedge fund that specializes in PIPE deals. The new entity will be called BayStar Ventures LLC, as in limited liability company. BayStar managed $100 million. The new venture hopes to raise and then manage $300-$500 million. Joining Goldfarb will be "James Peet, who previously ran the $800 million Lehman Brothers Communications Fund, and Bob Rice, chairman and founder of Viewpoint Corp."

Here's what I want to know. Who gets to keep all that wonderful SCO stock?


  


BayStar Capital Liquidating | 95 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
OT Here
Authored by: SpaceLifeForm on Thursday, July 07 2005 @ 01:55 PM EDT

[ Reply to This | # ]

BayStar Capital Liquidating.
Authored by: Anonymous on Thursday, July 07 2005 @ 01:57 PM EDT
Will the new entity raise more money for SCOG?

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: Steve Martin on Thursday, July 07 2005 @ 02:03 PM EDT
Forgive my ignorance, but if they're "liquidating", does this mean
that the TSG stock in the kitty will be "liquidated" (i.e. sold) as
well? If so, is this in accordance with the limitation as to how fast BayStar
could sell the stock? Or has that limitation gone by the wayside, now that
BayStar is liquidating?


---
"When I say something, I put my name next to it." -- Isaac Jaffee, "Sports
Night"

[ Reply to This | # ]

Who gets to keep all that wonderful SCO stock?
Authored by: Anonymous on Thursday, July 07 2005 @ 02:18 PM EDT
No doubt this is exactly what the "management disagreements" were
about.

"Okay, here's your share to the SCOG."

"I'm not touching that junk."

"Come on, we all have to pitch in and flog it somewhere."

"I recommended against buying it, and I'm not gonna get stuck selling
it."

"Why not tell your friends about it?"

"Because I'd like to keep them as friends."

etc, etc.

-Wang-Lo.

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: kawabago on Thursday, July 07 2005 @ 02:24 PM EDT
They will probably give the SCO stock away in Captain
Crunch cereal so SCO can claim that Linux is hurting the children of America.

---
TTFN

[ Reply to This | # ]

Steven Lamar quit in June
Authored by: Anonymous on Thursday, July 07 2005 @ 02:25 PM EDT

One of the founders of BayStar, Steven M. Lamar, quit BayStar in June.

"SLS International (OTC Bulletin Board: SITI - News) announced today that it has appointed Steven M. Lamar as President and Michael Maples as Chief Operating Officer and Chief Financial Officer. Mr. Lamar was formerly a Managing Partner at BayStar Capital Management, LLC"

"Mr. Lamar has spent over 15 years in the financial services industry. Previously, he was a co-founder and Managing Partner of BayStar Capital Management, LLC,"

SLS International announcement

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

[ Reply to This | # ]

Who dropped the dime on SCOX?
Authored by: Anonymous on Thursday, July 07 2005 @ 02:44 PM EDT
SCOX fell 10 cents/share in a matter of minutes at about 11:30AM EDT today.
Just over 1000 shares traded and that took it down a nickle, followed almost
immediately by just under 3000 shares trading taking it down another nickle.

http://finance.yahoo.com/q/bc?s=SCOX&t=1d

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: Anonymous on Thursday, July 07 2005 @ 03:10 PM EDT
What happens is SCOX stock to liquidated with the rest of the assets and if it
gets sold, what will happen to the price of the remainding stock? As far as I
can tell, the trading of SCOX stock has been really light, sort of artificially
raising the stock price, or maybe more correctly, proping it up. If there is a
semi-major sale of their stock, then it would seem to me their price will
colapse.

[ Reply to This | # ]

Reminds me of a Simpsons episode...
Authored by: greyhat on Thursday, July 07 2005 @ 03:16 PM EDT
Where Bart joins a dot-com company publishing Internet cartoons, paid entirely
with stock. One day when he walks into the office, he sees that the company is
bankrupt, and everything is being hauled away.

"But I have 52 million shares! What's 52 million times zero? And don't tell
me it's zero!"
"Bart, its not about how much stock you have. It's about how much copper
you can get out of the walls!"



---
Give me the knowledge to change the code I do not accept, the wisdom not to
accept the code I cannot change, and the freedom to choose my preference.

[ Reply to This | # ]

Has Anyone Told SCO?
Authored by: Anonymous on Thursday, July 07 2005 @ 03:34 PM EDT
I wonder if SCO knows they are liquidating.... :)

There goes some more of those funds....

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: geoff lane on Thursday, July 07 2005 @ 04:03 PM EDT
The Curse of TSG strikes again.



---
I'm not a Windows user, consequently I'm not
afraid of receiving email from total strangers.

[ Reply to This | # ]

Piercing the corporate veil
Authored by: Anonymous on Thursday, July 07 2005 @ 04:11 PM EDT
If Baystar ceases to be, does that mean they get to destroy all the corporate
records?

Is it possible that somebody will want to ask them about the nature of their
investment in tSCOg? Might they be bailing out to avoid any possible
'trouble'.

First Canopy bailed, now Baystar scuttles the ship. Hmm. That leaves RBC but
for them to go down would be inconceivable (that word does mean what I think it
does).

[ Reply to This | # ]

Perhaps they'll change their name to "The Baystar Group"...
Authored by: Anonymous on Thursday, July 07 2005 @ 04:48 PM EDT
and see who they can sue :)

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: Stumbles on Thursday, July 07 2005 @ 05:09 PM EDT
Lol, that was some hedge fund. So does that mean there will be a new
round of bets with other peoples money on SCO?

---
You can tune a piano but you can't tune a fish.

[ Reply to This | # ]

Wait... SCO to Buy Back Shares From Baystar???
Authored by: Anonymous on Thursday, July 07 2005 @ 05:11 PM EDT
Sounds like good spin to me.

Just kidding....

[ Reply to This | # ]

What are PIPE deals?
Authored by: Anonymous on Thursday, July 07 2005 @ 05:32 PM EDT
Are they anything like pipe dreams? (^_^)

[ Reply to This | # ]

Who's the *buyer*?
Authored by: Anonymous on Thursday, July 07 2005 @ 07:55 PM EDT

Well, Baystar can't sell unless someone else buys.
So, who is it (are they)?

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: El_Heffe on Thursday, July 07 2005 @ 08:41 PM EDT
"a hedge fund that specializes in PIPE deals."

Or, in the case of Baystar's investment in SCO, Pipe dreams.



---
"When I say something, I put my name next to it" - anonynmous

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: fireman_sam on Friday, July 08 2005 @ 03:36 AM EDT
"Who gets to keep all that wonderful SCO stock?"

That is what the disagreements were about. Someone had to have them, nobody
wanted them.

Sorry I don't have anything constructive to add.

[ Reply to This | # ]

"Always bet on stupidity."
Authored by: jimwelch on Friday, July 08 2005 @ 10:31 AM EDT
-- Sniper in Babylon 5:"Ceremonies of Light and Dark"

Wouldn't it be horrible if life were fair? Then all the horrible things that
happen to us would happen because we deserve it. Now I take great pleasure in
the unfairness of the universe.

Marcus Cole, Ranger @ Babylon 5

---
Programming since 1976 with punched cards and not a single hagging chad (yet).

[ Reply to This | # ]

BayStar Capital Liquidating
Authored by: Anonymous on Friday, July 08 2005 @ 01:06 PM EDT
Hmmmm.. will they use the obfuscation caused by the liquidation to simply
morph into a new identity and carry on carrying on? Assume a new name and keep
the status quo?

[ Reply to This | # ]

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