Well, OK, no. SCO isn't quite like a phoenix.
It's more like some sort of B-movie psychotic serial killer in a teen slasher flick. You know the one - they deranged goon that gets stabbed, shot, run over with a car, and finaly engulfed in flame before they fall down and die. Only after a few seconds, they jump up, still on fire, and somehow manage to start shambling after the plucky heroine once again.
Somehow, SCO has managed to find some new partners - specifically, the Stephen Norris Capital Partners. For reasons only known to them, SNCP is investing $100 million in a company that's been pretty much humiliated legally and technically over the course of the last three years. A company with a share price of $0.09 and a market capitalization of $1,930,000.
You read that right - the share price for SCO is currently nine cents a share, and their market capitalization is 1.93 million US dollars. Please also note that those figures are as of close on February 14th, 2008 - after news of the investment drove the stock price up by 50%. At the start of the day, SCO was trading at under $0.06 per share, with a market cap of around $1.28 million.
I know people who could have bought the company at that price. In Silicon Valley alone, there must be a thousand people in the tech industry who could have written a personal check and bought out SCO, lock, stock, and barrel.
And yet... nobody even considered doing that until Stephen Norris Capital Partners came along with the mind-bogglingly brilliant idea to not just buy SCO, but to spend 50x more than they had to to acquire this hot little property. There are habitual gamblers out there who have managed to take brain-damaged betting and raise it to the level of performance art who still realize, at a very fundamental level, that investing in SCO isn't a good bet.
What in the world do SNCP think they're going to get out of this deal that could possibly be worth their investment?