Yarro accused of embezzling $20 Million

Message ID: 230372
Posted By: cat_herder_5263
Posted On: 2005-01-31 13:41:00
Subject: Yarro accused of embezzling $20 Million

www.sltrib.com/ci_2543579

Meantime, Canopy has countersued, along with Ray Noorda and wife, Lewena, as officers of the Noorda Family Trust, Canopy's founding and primary investor. They accuse Yarro, Mott and Christensen of siphoning off at least $20 million via "a series of self-dealing and wasteful transactions."

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This is a test to see who tries to shout it down. =:)

=^^=

Message ID: 230380
Posted By: saltydogmn
Posted On: 2005-01-31 14:02:00
Subject: SCOX BOD chairman embezzles $20 Million

...allegedly, of course...

>>>>>>>>>>>>>>>>>>>>>>>>>
Yarro accused of embezzling $20 Million
by: cat_herder_5263 (M/TX) 01/31/05 01:41 pm
Msg: 230372 of 230377

www.sltrib.com/ci_2543579

Meantime, Canopy has countersued, along with Ray Noorda and wife, Lewena, as officers of the Noorda Family Trust, Canopy's founding and primary investor. They accuse Yarro, Mott and Christensen of siphoning off at least $20 million via "a series of self-dealing and wasteful transactions."

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

This is a test to see who tries to shout it down. =:)

=^^=
>>>>>>>>>>>>>>>

Nice post, cat!

Message ID: 230381
Posted By: cat_herder_5263
Posted On: 2005-01-31 14:04:00
Subject: Re: SCOX BOD chairman embezzles $20 Mil

Thanks, dog!

That one didn't bring out s/he who shall remain nameless.

Maybe my next one...

=^^=

Message ID: 230383
Posted By: rgriffith64
Posted On: 2005-01-31 14:13:00
Subject: Re: SCOX BOD chairman embezzles $20 Mill

This explains a number of motions by the SCOX board of directors that fueled the "buyout" rumors the shill's like to post.

It looks like all the "change of control" actions in the SCOX boardroom, press and SEC filings were associated with this affair and the attempt by those involved to retain their positions.

Unless these people can reach an internal settlement I expect this to blow up all the nice Canopy interactions.

Message ID: 230400
Posted By: atul666
Posted On: 2005-01-31 14:38:00
Subject: Re: SCOX BOD chairman embezzles $20 Mil

>>
It looks like all the "change of control" actions in the SCOX boardroom, press and SEC filings were associated with this affair and the attempt by those involved to retain their positions.
<<

Which kind of explains why SCO management didn't put out a big press release about the "change of control" deal and shout about it from the rooftops like they usually do. They didn't breathe a word about it at the CC, and they ended the call quickly before anyone asked about it, or the Yarro firing.

So SCO (well, its management team) is trying to protect itself from Canopy. Looks like Canopy has a rogue tentacle on its hands. They work in the same office complex, probably pass each other in the hall every day, and now they're mortal enemies, with all sorts of backstabbing and political intrigue going on. I love it.

The question is, what should Canopy do about SCO? Should they try to oust current management and bring them back into the fold, or should they just cut SCO loose? I'm inclined to think the latter; at this point the company's basically doomed. They're hemorrhaging cash at an astounding rate, their customers are running for the hills, and the lawsuits are going nowhere (or worse). And Canopy as a whole is getting tarred by association with SCO. I don't know how many times I've seen interviews with execs of other Canopy companies, where they've had to explain that they aren't SCO and they don't sue their customers. Even the perception of an association with SCO is pure poison in the industry.

So if I was Mr. Mustard, I'd start dumping my SCOX shares ASAP, and begin looking for ways to terminate their lease, which would free up that valuable office space for some company with a future. I'd let SCO keep Yarro, Mott, and friends, if they think that's a keen idea, but I'd add Darl and possibly other SCO principals to the list of defendants in the Yarro lawsuit.

The texts of these Yahoo Message Board posts have been licensed for copying and distribution by the Yahoo Message Board users "cat_herder_5263", "saltydogmn", "rgriffith64", "atul666" under the following license: License: CCL Attribution-NonCommercial-ShareAlike v2.0.