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| Ocean Park's 11th Bill. Working on a Restructuring Plan. And Executing It. |
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Thursday, September 30 2010 @ 12:51 AM EDT
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Ocean Park Advisors has filed its 11th monthly bill in the SCO bankruptcy, for $15,831, 80% of the bill for August, plus $196.13 in expenses. That's for 68.6 hours. According to the bill, they spent most of their time in August working on: "Analysis, Preparation and Execution of Restructuring Plan", 19.5 hours, $6,157.50.
There's a restructuring plan?? And they're *executing* it? Actually, all kidding aside, they define restructuring on page 4 of the filing as "headcount reductions and non-payroll expense rationalizations." That's one of the saddest parts of the SCO story, all the employees whose lives have been impacted negatively. I gather from the bill, most of the headcount reductions in August were in the foreign subsidiaries. The August SCO story was shrinkage. It must be so depressing to work for SCO in 2010.
Here it is, their 11th bill:
09/29/2010 - 1176 - Monthly Application for Compensation of (Eleventh) of Ocean Park Advisors, LLC for the period August 1, 2010 to August 31, 2010 Filed by Ocean Park Advisors, LLC. Objections due by 10/19/2010. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Certificate of Service) (Fatell, Bonnie) (Entered: 09/29/2010)
09/29/2010 - 1177 - Certificate of No Objection (related document(s) 1145 ) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 09/29/2010)
09/29/2010 - 1178 - Certificate of No Objection (related document(s) 1146 ) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 09/29/2010)
Several entries mention Japan restructuring, also India, where an entry on 8/11 shows the distributor litigation is still going on. Japan also has "corporate governance issues". And on 8/13, an entry mentions winding down a subsidiary. One sub moved to a new office. Probably not nicer, I'm guessing. On 8/25 an employee drew up a list "of operating and commercial issues to be discussed with legal counsel". And there's an entry about review of professional fees at a subsidiary. The filing says, "This is an ongoing process and OPA expects to continue executing on the restructuring plan going ahead."
Who's left to fire? Presumably in the subsidiaries they will find still more.
The second biggest item was interfacing with management, and then the third was interfacing with lawyers and the Ch. 11 Trustee. Then came analyzing and preparing budgets and reports. Short-term cash flow projections, natch, and a "1-year cash forecast model" -- they're kidding, right? Oh, wait. I know. Beellions from IBM. What could be a more practical plan than that?
But who might "JV" be? On page 5 of Exhibit A, the breakdown of hours spent, JV shows up repeatedly. "... letter to JV partner"on August 6, for example.
The expense, we see in Exhibit B, was for "Telecom/Conference Bridge". There are at least two entries regarding calls to tell employees things. Like they're going to be "restructured", I suppose.
They also spent 5.1 hours working on fee/expense applications "under the guidance of counsel to the Trustee", who presumably will also be billing for that. And why would you need a lawyer to write up your bill? Maybe to discuss those corporate governance issues, whatever they turn out to be. One item says that they had to review and respond to emails about "collections and foreign subsidiaries."
I see by Exhibit A, the breakdown of help provided, that Ocean Park had zero contact ... well, billable contact anyway... with "Lenders" in August or with the Board. Also zero time on "Analysis and Preparation of Financial models."
They act in faith, these efficient folks at OPA. I see that they haven't been paid yet for the last two bills for June and July for around $60,000, but hey, one doesn't wish to become unduly cynical. I'm sure the judge will see that they get paid somehow, even if Novell never gets any blood from this turnip. But this is by far the most somber bill yet. It must be truly depressing to work for SCO right now.
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| Authored by: whoever57 on Thursday, September 30 2010 @ 02:06 AM EDT |
Joint Venture?
Perhaps they plan to sell part of the litigation rights and turn the litigation
into a joint venture? [ Reply to This | # ]
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- "JV"? - Authored by: HTH.Cheers on Thursday, September 30 2010 @ 02:37 AM EDT
- "JV"? - Authored by: Anonymous on Thursday, September 30 2010 @ 05:00 AM EDT
- "JV"? - Authored by: Anonymous on Thursday, September 30 2010 @ 07:59 AM EDT
- LSC Holdings? - Authored by: Anonymous on Thursday, September 30 2010 @ 01:29 PM EDT
- "JV"? - Authored by: rsteinmetz70112 on Thursday, September 30 2010 @ 02:02 PM EDT
- Oceans 11 - Authored by: Anonymous on Thursday, September 30 2010 @ 02:44 PM EDT
- "JV"? - Authored by: J.F. on Thursday, September 30 2010 @ 02:56 PM EDT
- "JV"? - Authored by: Anonymous on Thursday, September 30 2010 @ 05:45 PM EDT
- "JV"? - Authored by: Anonymous on Thursday, September 30 2010 @ 10:55 PM EDT
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| Authored by: SilverWave on Thursday, September 30 2010 @ 02:54 AM EDT |
:-)
---
RMS: The 4 Freedoms
0 run the program for any purpose
1 study the source code and change it
2 make copies and distribute them
3 publish modified versions
[ Reply to This | # ]
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| Authored by: SilverWave on Thursday, September 30 2010 @ 02:55 AM EDT |
:-0
---
RMS: The 4 Freedoms
0 run the program for any purpose
1 study the source code and change it
2 make copies and distribute them
3 publish modified versions
[ Reply to This | # ]
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| Authored by: SilverWave on Thursday, September 30 2010 @ 02:56 AM EDT |
@_@
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RMS: The 4 Freedoms
0 run the program for any purpose
1 study the source code and change it
2 make copies and distribute them
3 publish modified versions
[ Reply to This | # ]
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| Authored by: SilverWave on Thursday, September 30 2010 @ 02:57 AM EDT |
-_-
---
RMS: The 4 Freedoms
0 run the program for any purpose
1 study the source code and change it
2 make copies and distribute them
3 publish modified versions
[ Reply to This | # ]
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| Authored by: benw on Thursday, September 30 2010 @ 04:51 AM EDT |
There's a bit in a Harry Harrison book about a military retreat, where a whole
base has to tear down and evacuate. It ends up with the barbers manically
shaving themselves and so on.[ Reply to This | # ]
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| Authored by: SirHumphrey on Thursday, September 30 2010 @ 08:26 AM EDT |
J V Merkey
Jaureen Vogara
Judicial Vicissitude
Jelniblogaromnistia Vulmedentintioplesmygraphia
Jovian Vectors
Judgement vacated?
Jamais Vu
Jugular Vein
Junin virus
Juniperus virginiana
Juxtapropensoric vagaromesmeristic
Juggling voles
Jana Vent
Jostling viers
Jettisoned victory
Jugoslavian vapors
Jenkora Volparimpatun
jojoba vittles
Jalnus Venusium
John bon joVi
Judicata vagranti
Joking Vainglory
Juggling Valium
Justinius Vampirum
Joan V'Arc
Jury Vexation
Jupiter's Vomitorium
Junk value
Jargonis verbosae
Juncus Verdana
Junker's versions
Jindabyne Vacation
Jandergorscal Vostarontium
[ Reply to This | # ]
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- JV... - Authored by: Anonymous on Thursday, September 30 2010 @ 10:11 AM EDT
- JV... - Authored by: red floyd on Thursday, September 30 2010 @ 11:52 AM EDT
- Jules Verne - Authored by: betajet on Thursday, September 30 2010 @ 10:37 AM EDT
- Jilted valedictorian - Authored by: Anonymous on Thursday, September 30 2010 @ 11:51 AM EDT
- Jolly Verbose (n/t) - Authored by: sproggit on Thursday, September 30 2010 @ 11:56 AM EDT
- Just like Ludwig van... - Authored by: Anonymous on Thursday, September 30 2010 @ 12:55 PM EDT
- Junior Varsity - Authored by: NetArch on Thursday, September 30 2010 @ 03:38 PM EDT
- Joint Venture - Authored by: Anonymous on Thursday, September 30 2010 @ 05:41 PM EDT
- Jaded Vultures (n/t) - Authored by: Anonymous on Thursday, September 30 2010 @ 06:02 PM EDT
- Justin Viever (n/t) - Authored by: Anonymous on Thursday, September 30 2010 @ 06:55 PM EDT
- JV - Authored by: arnotsmith on Thursday, September 30 2010 @ 09:52 PM EDT
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| Authored by: DannyB on Thursday, September 30 2010 @ 09:27 AM EDT |
There was a time that I felt sorry for the poor employees whose lives were
impacted by this farce.
That time was long ago and is now past.
By 2005 it should have been clear the ship was sinking.
By 2007 it should have been really clear.
By 2009 if there were still employees who could not see this, then they have
made it clear that they do not have the qualities that would make me want to
hire them.
---
The price of freedom is eternal litigation.[ Reply to This | # ]
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| Authored by: Anonymous on Thursday, September 30 2010 @ 09:30 AM EDT |
| ;) [ Reply to This | # ]
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| Authored by: The Mad Hatter r on Thursday, September 30 2010 @ 09:39 AM EDT |
Yes, you have to feel sorry for all of the employees who through no fault of
their own, are now unemployed.
Which makes me wonder. Why couldn't the employees sue Darl and Ralph for costing
them their employment, say something along the lines of incompetence in
management?
---
Wayne
http://madhatter.ca/[ Reply to This | # ]
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| Authored by: Barbie on Thursday, September 30 2010 @ 10:08 AM EDT |
"We took the restructuring plan out back and shot it!"
Sounds like both an accurate description and a good prescription to me :-)[ Reply to This | # ]
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| Authored by: DebianUser on Thursday, September 30 2010 @ 10:13 AM EDT |
Isn't the restructuring plan to simply morph into a pure litigation troll,
devoid of any counter-claim-able assets?
I'd say they are proceeding nicely in that plan. [ Reply to This | # ]
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| Authored by: Anonymous on Thursday, September 30 2010 @ 02:07 PM EDT |
Oh! Their office is close to where mine was until last year.
It's close to Kanda station... not exactly upscale digs, and just a 5th floor.
I think I'll go by and have a look see when I'm around there next month.[ Reply to This | # ]
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| Authored by: dmarker on Friday, October 01 2010 @ 01:17 AM EDT |
Ray Noorda showed his people that buying a company that had been
damaged by another (such as by illegal market tactics or anti-competitive
behavior), was a profitable business if you knew the market of the time and
could gather the evidence.
He had personal issues with Microsoft and the way
Bill Gates did business. Gates had issues with Ray Noorda as he blamed Ray for
having the Justice Dept hound Microsoft and the resulting anti-trust convictions
Gates suffered. Gates was totally humiliated by the cross examinations when
quizzed for all the world to see. Even if one believes his humiliation was
significantly self inflicted.
The plot to Kill
Gates
NOVELL VS.
MICROSOFT: WHAT'S BEHIND THE HATE
Noorda used Caldera Inc to sue
Microsoft re DRDos & won.
Caldera vs Microsoft - the
settlement
Noorda later planned to take on Microsoft again over
WordPerfect but this time from his Novell company.
Novell can sue Microsoft for killing WordPerfect
Noorda
set up the canopy group to manage all his various interests - Canopy was exactly
that, the top or cover for his other companies.
Then Ralph Yarro came into
control at Canopy as Noorda aged & moved more away from operational issues.
IIRC Canopy instigated the purchase of Santa Cruz Op by Caldera. I believe
it is reasonable to assume the target was litigation right from the start &
Ralph Yarro was now puppet master. He moved Darl McBride in to Caldera to
carry out the plan and McBride did all that was asked of him plus more.
Then came the battle between Noorda & Yarro for control of Canopy &
Yarro got ousted but not before a couple of people associated with the case
died. Yarro collected a big payout from Canopy. Part of the payout being shares
in Caldera (tSCOg).
Ralph Yarro III (see
SCO/Caonpy lawsuit)
One highly probable difference between Noorda &
Yarro was that Noorda seemed far less likely to go after IBM/Linux whereas Yarro
had no such reservations. In fact this difference looks like a good reason Yarro
was sent packing.
Novell certainly supported IBM throughout the litigation. But
it seems Noorda was no longer the driving force & Novell appear to have
other good reasons for backing IBM & Linux.
Also Microsoft's execs had
no love for Novell or IBM or Linux and am pretty sure they would have jumped in
early at any opportunity to fuel Yarro's initial plans as they would benefit big
time. Microsoft introducing Baystar to tSCOg is good enough proof to me of
Microsoft siezing an opportunity initially set up by Yarro. Microsoft paying
tSCOg for SCOSource licenses seemed further proof.
Point here is that
Caldera (tSCOg) knows how to buy a 'damaged' company, then use its ip &
their tenacious tactics to go for 'payback' against the competitors that damaged
the bought company.
tSCOg could still carry on doing this but surely it
would be easier to just start another 'Nasty Corp' and use it to do the same.
DSM
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- Do they know? - Authored by: Anonymous on Monday, October 04 2010 @ 11:41 AM EDT
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