Sunday, April 5, 2009

Where the SUN doesn't shine

Well, it appears the remaining execs at SUN not only wanted to screw the pooch, but buy it jewelry too:

From the New York Times:

I.B.M. Withdraws $7 Billion Offer for Sun Microsystems
Published: April 5, 2009

After weeks of negotiations, I.B.M. withdrew its $7 billion bid for Sun Microsystems on Sunday, one day after Sun’s board balked at a reduced offer, according to three people close to the talks.

The deal’s collapse raises questions about Sun’s next step, since the I.B.M. offer was far above the value of the Silicon Valley company’s shares when news of the I.B.M. offer first surfaced last month. Sun, an innovative pioneer in computer workstations and Internet-era software, has struggled in the marketplace in recent years.

I.B.M. had a team of more than 100 lawyers conducting due-diligence research on potential issues in a purchase of Sun, ranging from antitrust concerns to Sun’s contracts with employees and I.B.M. competitors.

After the legal review, I.B.M. shaved its offer Saturday from $9.55 a share, the offer on the table late last week, to $9.40 a share, said one person familiar with the talks. The offer was presented to Sun’s board on Saturday, and it balked. The Sun board did not reject the offer outright, but wanted certain guarantees that the I.B.M. side considered “onerous,” according to that person.

Read the rest

This is just another act in the ongoing comedy of stupidity that is the American technical industry. IBM, SUN and EDS have been busily outsourcing for years, cutting the throats of their workers, screwing the crap out of local economies and now that it's come time for the remaining fish to feed on each other they're crying about the flavor of the ketsup.

When SUN drove out Bill Joy I knew it was just a matter of time till they imploded - the company was a slowly-shrivelling husk being sucked dry by the vampire hellbeast EDS until HP came along and gulped down EDS.

Now IBM is eying SUN, what collossal irony.

Look at the ten-year chart of both IBM and SUN:

All the hand-waving in the world isn't going to cover up the fact that the GOP-dominated Congress let businessmen do exactly what they wanted with no oversight - and they did. Screwed not just the pooch, but the cat, the canary and the goldfish.

Why does ANYONE let the GOP anywhere NEAR money???

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