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Mr. Raimondi Makes His Getaway
Wednesday, November 24 2004 @ 10:24 AM EST

Thomas P. Raimondi, Jr., has resigned from the Board of The SCO Group, according to a SCO press release. It seems he has "time constraints". He says it was "an honor" to serve. "I continue to support the Company's strategy and wish the Company continued success."

As what? Where?

No doubt he has fond memories of the heady good old days, when hope sprang eternal. Well, not eternal after all. I note it is Ralph Yarro who stood up to praise him and send him on his way. Where is Darl McBride in this picture? Doesn't he usually do the honors at such events?

If you don't mind a brief stroll down memory lane, we can remind ourselves of a detail about MTI, Mr. Raimondi's company, from June of 2003:

"SCO is basically owned and run by The Canopy Group, a Utah firm with investments in dozens of companies. Canopy's chief executive, Ralph J. Yarro III, is chairman of SCO's board of directors and engineered the suit against Microsoft in 1996. Darcy Mott, Canopy's chief financial officer, is another SCO director, along with Thomas Raimondi, chief executive of a Canopy company called MTI Technology. . . .

"Canopy companies sometimes share more than a common parent. They form joint ventures and buy and sell one another's stock. Last November SCO formed a joint venture called Volution with Center 7, a Canopy company. In 2000, Caldera sold off part of its business to EBIZ Enterprises, a Texas company in which Canopy holds a controlling interest and whose board boasts three Canopy execs, including Mott, according to SEC filings. Previously, Caldera bought shares in two other Canopy companies, Troll Tech and Lineo, and later wrote off the Troll Tech investment but sold the Lineo shares at a profit, according to SEC filings. In 1999, Caldera sold its own shares to MTI, then bought those shares back last year, according to SEC filings.

"What's the point of all this horse trading? McBride says he has no idea, since those deals happened before he joined Caldera. 'I wasn't involved in those transactions,' he says.

But Raimondi was there. That article was titled, "What SCO Wants, SCO Gets." I'm thinking instead that the headline should be rewritten thus, "What SCO Wanted, It Used to Get, Before It Foolishly Got IBM and the FOSS Community Mad and Digging in the Dirt."

Here's the press release.

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

LINDON, Utah, Nov. 24 /PRNewswire-FirstCall/ -- The SCO Group, Inc. (Nasdaq: SCOX), owner of the UNIX operating system and a leading provider of UNIX-based solutions, today announced that Thomas P. Raimondi Jr., president and CEO of MTI Technology Corp., has resigned as a director of The SCO Group. Mr. Raimondi informed the Company that current and anticipated time constraints relating to his duties at MTI required him to discontinue his service on the Board, effective as of Nov. 24, 2004. Mr. Raimondi has served as a member of The SCO Group's Board of Directors since September 1999.

The SCO Group's Board of Directors, which consists of eight seats, has initiated a search for candidates to fill the vacant seat, and will seek to appoint a replacement at the 2005 annual meeting of shareholders.

"We thank Thomas for his time, energy and contributions as a director of the Company and wish him well in his future endeavors," said Ralph Yarro, III, Chairman, The SCO Group.

"It has been an honor to serve on The SCO Group's Board of Directors. I continue to support the Company's strategy and wish the Company continued success," said Raimondi.

Forward-Looking Statements

This press release contains forward looking statements related to The SCO Group's anticipated 2005 annual meeting of shareholders. SCO wishes to advise readers that a number of important factors could cause actual results to differ materially from those anticipated in such forward-looking statements. These and other factors that could cause actual results to differ materially from those anticipated are discussed in more detail in SCO's filings with the Securities and Exchange Commission.

About SCO

The SCO Group, Inc. (Nasdaq: SCOX) helps millions of customers in more than 82 countries to grow their businesses everyday. Headquartered in Lindon, Utah, SCO has a worldwide network of more than 11,000 resellers and 4,000 developers. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit http://www.sco.com.

SCO and the associated SCO logo are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries. UNIX is a registered trademark of The Open Group. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.


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