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| Tanner Bills SCO for Another $54,000 for June |
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Friday, July 04 2008 @ 05:43 PM EDT
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Tanner has filed yet another bill, its 9th, asking this time for $53,612.50 for June. And $439.68 in expenses. We haven't seen a bill as large as that from Tanner since February. You'd think for all that money, they'd be able to teach SCO how to file MORs that are comprehensible. The three categories of services this time were for "Audit", "Tax", and "401(k)Audit". It's an interim bill, meaning it is asking for 80% of most of the bill to be paid now, or around $40,000, and the rest later. Tanner was approved to expand its role in February to include doing SCO's state and federal taxes, and in June its role expanded to include doing the audit of the 401(k), so that explains the large bill. It was approved to bill for the audit $17,000, and that means it gets 100% of that bill now, not just 80% it gets for hourly work. But it is also asking for $17,515.50 for 124 hours of work on the taxes, and yet the bill states that they have only begun to perform the tax procedures, as it calls them. So what was the time spent on?
Here's what they tell us: In that regard, the Applicant has conducted communications with the Debtors' Chief Financial Officer, Controller and other employees in the Debtors' accounting department regarding the data required for the Applicant to perform the tax procedures.
124 hours of that? Really? Here's the rest of what might account for the hours: Tanner says they also "provided requested analyses regarding the plan of reorganization." The costly reorganization plans strike again. Why is it placed under the category Taxes? Should it not be billed under Reorganization? I suppose they'll say it's because that is what they were asked about in connection with the reorganization, and indeed in Exhibit A, the breakdown of hours, you see "Corporate Tax Return" as the sub-category under Taxes, but if it was for the reorganization, now that SCO, according to Heise, says it has a new investor, is it once again work for absolutely no result? I mention it because some of you are trying to keep track of how much has been spent on reorganization plans, and this might slip by, seeing as it's put under the category Taxes. It's taxes, but in connection with the reorganization plan.
Here are the filings: 510 -
Filed & Entered: 06/30/2008
Certificate of Service
Docket Text: Certificate of Service for 7th Monthly Fee App of D&W Filed by Dorsey & Whitney LLP. (Schnabel, Eric)
511 -
Filed & Entered: 07/02/2008
Application for Compensation
Docket Text: Monthly Application for Compensation (Ninth) for Services and Reimbursement of Expenses, as Accountants to the Debtors for the Period from June 1, 2008 through June 30, 2008 Filed by Tanner LC. Objections due by 7/22/2008. (Attachments: # (1) Notice # (2) Exhibit A # (3) Certificate of Service and Service List) (O'Neill, James)
512 -
Filed & Entered: 07/03/2008
Certificate of No Objection
Docket Text: Certificate of No Objection (No Order Required) Regarding Sixth Monthly Fee Application of Mesirow Financial Consulting, LLC as Financial Advisors to the Debtors for Compensation and Reimbursement of Expenses for the Period from May 1, 2008 through May 31, 2008 (related document(s)[493] ) Filed by The SCO Group, Inc.. (Attachments: # (1) Certificate of Service and Service List) (Makowski, Kathleen) It's off topic, but I think you'll find this interesting. It's an order from Magistrate Brooke Wells, who worked on the SCO v. IBM case, in another music industry attempt to run to court and get an ex parte order to find out identities of file sharers in Utah. She grants the subpoena but also doesn't allow them to get the information until the company, Off Campus, being subpoenaed can move to quash within 10 days.
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| Authored by: artp on Friday, July 04 2008 @ 06:09 PM EDT |
Corrections posted here.
Summary in title block - orginal -> original
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Userfriendly on WGA server outage:
When you're chained to an oar you don't think you should go down when the galley
sinks ?[ Reply to This | # ]
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| Authored by: kawabago on Friday, July 04 2008 @ 06:09 PM EDT |
Something along the lines of Criticism Management Consultant might work.
They've been paying everyone that has a hand out, why not get in on the action.
You could give the proceeds to Novell who's money it is anyway.
[ Reply to This | # ]
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| Authored by: artp on Friday, July 04 2008 @ 06:17 PM EDT |
Change the title block. Let us know which newspick you are commenting on.
Preview is your friend. Links appreciated.
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Userfriendly on WGA server outage:
When you're chained to an oar you don't think you should go down when the galley
sinks ?[ Reply to This | # ]
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| Authored by: artp on Friday, July 04 2008 @ 06:22 PM EDT |
Change the title block. Preview is your friend.
Instructions for HTML are
under the text input box, or you can look here.
<
p>
And please stay Off Topic.
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Userfriendly on WGA server
outage:
When you're chained to an oar you don't think you should go down when the galley
sinks ? [ Reply to This | # ]
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| Authored by: bbaston on Friday, July 04 2008 @ 06:46 PM EDT |
Urgent "Eyeballs for ODF" feedback goes here. PJ says:
"... from
now on, only post anything that seems to be vital" and still expects us to
"Stay polite at all times, of course, if you say anything, and you needn't
say anything"
Helpful links to ODF
Implementation, Interoperability and Conformance: formation, archive, draft
charter , and #oiic
logs. ---
IMBW, IANAL2, IMHO, IAVO
imaybewrong, iamnotalawyertoo, inmyhumbleopinion, iamveryold [ Reply to This | # ]
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| Authored by: bezz on Friday, July 04 2008 @ 08:17 PM EDT |
| I'm one of the people trying to figure out SCO's financial Reports. We get to
look at the consolidated reports SCO files with the SEC and two confusing
Monthly Operating Reports (MOR's) SCO files with the Bankruptcy Court as SCO
Operations and SCO Group. If you want to turn your brain into a twisted lump of
knotted confusion, try reconciling the MOR's to the SEC filings.
Let's
take a look at cash assets in the filings for the period ending April 30, 2008.
There is page 3 of the SEC filing and pages 8 and 11 of the SCO
Operations filing. SCO Group reports no cash, so we won't bring that into
the mix.
SCO reports $6.3 million and $4.1 million of total
Restricted and Unrestricted Cash to the SEC and Bankruptcy Court, respectively.
What appears to be going on is SCO reports cash in its foreign subsidiary bank
accounts to the SEC but not the Bankruptcy Court. The total cash reported
on
the April MOR page 8 is $6.3 million, of which $2.26 million is in
subsidiary foreign bank accounts.
The accounting for Novell SVRX cash is
very difficult to decipher. On the SEC filing, SCO carries the money as a
Restricted Cash asset and specifically lists it as a liability of $1.268
million. On the MOR, it is not reported
as a Restricted Cash asset and only
$86,000 is listed on the chart for Other Postpetition Liabilities. But on
the bank accounts, SCO lists $204,000 in American accounts and $1.2
million in Japan as Novell SVRX Restricted Cash.
Why on earth is SCO
keeping Novell's SVRX money in a Japanese subsidiary's bank account and not
keeping it here in the America? SCO Operations is a US Company through which
almost all of the cash is supposed to flow, yet Novell's money is held in an
overseas account and not reported to the Bankruptcy Court. Under the accounting
rules it is using for bankruptcy, it is not reported on the MOR's and thus
not
available for distribution to creditors. Utterly charming. Half of the
$2.2 million SCO is keeping in foreign bank accounts is Novell's and not
subject to bankruptcy reporting.
See how convoluted the bankruptcy
reporting is and why it is so hard to reconcile what SCO tells the court versus
what it tells the SEC?
SCO Group is reporting foreign subsidiaries as an
asset and I have no idea how that gets from its MOR to the SEC filings. There
is more going on here with the $2 million Operations carries as Goodwill
(yet does not appear on SEC filings), $1.75 million payable from SCO Group
to Operations
listed as an asset on Operations, etc. But it is all so
convoluted it takes a lot of number crunching and reading to figure out what is
happening. [ Reply to This | # ]
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