given2invest

And the follow up! Are these guys in Junior High? Another Whopper from Autonomy CEO Mike Lynch REDWOOD SHORES, Calif., September 28, 2011 Oracle issued the following statement: “Autonomy CEO Mike Lynch continues to insist that Autonomy was never ‘shopped’ to Oracle. But now at least he remembers and admits to meeting with Oracle President Mark Hurd and Doug Kehring, Oracle’s head of M&A, this past April. But CEO Lynch insists that it was a purely technical meeting, limited to a ‘lively discussion of database technologies.’ Interesting, but not true. The slides Lynch showed Oracle’s Mark Hurd and Doug Kehring were all about Autonomy’s financial results, Autonomy’s stock price history, Autonomy’s Price/Earnings history and Autonomy’s stock market valuation. Ably assisting Mike Lynch’s attempt to sell Autonomy to Oracle was Silicon Valley’s most famous shopper/seller of companies, the legendary investment banker Frank Quattrone. After the sales pitch was over, Oracle refused to make an offer because Autonomy’s current market value of $6 billion was way too high. We have put Mike Lynch’s PowerPoint slide sales-pitch up on the Oracle website – Oracle.com/PleaseBuyAutonomy – with the hope Mike Lynch will recognize his slides, his memory will be restored, and he will recall what he and Frank Quattrone discussed during their visit to Oracle last April. Yesterday, the Autonomy CEO did not remember having any meeting with Oracle. Today, he remembers the April meeting and inaccurately describes how it came about and what was discussed (see next paragraph). Tomorrow, he will need to explain his slides. Mike Lynch describes his meeting with Oracle: “On one of my trips to SF (April 2011), Frank Quattrone whom I have known for a long time offered to introduce me to Mark hurd. Oracle was a customer and I have never met him, so it was a good opportunity. Frank does this from time to time on my visits, he has introduced me to many people. . NOTE: Frank was not engaged by Autonomy and there was no process running. The company was not for sale. I recall meeting with mark and someone else I believe called Doug. At the start of the meeting they joked that frank was there to sell them something. Frank and I made it clear that was not the case. We then met and had a lively discussion about database technologies. The meeting lasted approximately 30 mins. Frank is happy to confirm this.”

I lol'd: Oracle Issues Statement Press Release Source: Oracle Corporation On Wednesday September 28, 2011, 7:20 pm EDT REDWOOD SHORES, CA--(Marketwire -09/28/11)- Oracle (NASDAQ: ORCL - News) issued the following statement: "After HP agreed to acquire Autonomy for over $11.7 billion dollars, Oracle commented that Autonomy had been 'shopped' to Oracle as well, but Oracle wasn't interested because the price was way too high. Mike Lynch, Autonomy CEO, then publically denied that his company had been shopped to Oracle. Specifically, Mr. Lynch said, "If some bank happened to come with us on a list, that is nothing to do with us." Mr. Lynch then accused of Oracle of being 'inaccurate.' Either Mr. Lynch has a very poor memory or he's lying. 'Some bank' did not just happen to come to Oracle with Autonomy 'on a list.' The truth is that Mr. Lynch came to Oracle, along with his investment banker, Frank Quattrone, and met with Oracle's head of M&A, Douglas Kehring and Oracle President Mark Hurd at 11 am on April 1, 2011. After listening to Mr. Lynch's PowerPoint slide sales pitch to sell Autonomy to Oracle, Mr. Kehring and Mr. Hurd told Mr. Lynch that with a current market value of $6 billion, Autonomy was already extremely over-priced. The Lynch shopping visit to Oracle is easy to verify. We still have his PowerPoint slides." About Oracle Oracle (NASDAQ: ORCL - News) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com.

Agree. Also, they think that it's unfair that someone who has 10's of billions pushes his beliefs on people who have 10's of millions. In their eyes, those are two very different situations.

Um, anyone with half a brain (I'm not being partisan) would have stopped listening when he told you his plan was the 9-9-9 plan. This is the same douche that said the healthcare bill should be 3 pages long and all bills should be 3 pages or less. It's just good sound bytes that are absurd. http://www.aoltv.com/2011/06/10/jon-stewart-says-herman-cain-does-not-like-to-read-video/

Stop thinking!

I mean, they are all the same number so it must be good policy. Reminds me of Bill Maher on California's 3 strikes and you're out policy. It works in baseball, it must be good for government policy!

haha diller is the worst, but this doesn't do much to change that opinion. i've always thought he was the worst.

*you're

Yah I saw that after I posted. :)

Thanks but what am I going to do with $10,000 in Sear's gift cards? Do people still shop there? ;D

haha you guys are funny. gold is up huge over the last year, two years, five years, and ten years. i'm not a gold bug and only own it as a currency hedge on margin but to say that gold is over because of a few awful days is hilarious. yes, it's near impossible to value gold but that doesn't make it worthless.

That's hilarious though I'm sure she didn't mean it like that.

The vol is just silly. A 2% move is normal, a 3% move is once a week, and a 1% move is rare. Meanwhile, we've been in a 10% trading range for weeks. Will this be the time we break to the down side? Probably.

You're not alone. The SEC is asleep at the wheel and usually takes a few years before they act on something. They add nothing to the market and are basically glorified front runners. They have huge lobbyists though as the trade so much everyone in the system (except investors) gains from them being in business.

Yah I agree. Let's just crash and get it over with.

you guys are funny ;D

Run on the bank is when a banks assets are illiquid and they can't convert them to cash fast enough to pay out depositors. Full Tilt had negative book value due to the fact that they stole customer money. There were no tangible assets when the music stopped. The whole thing is nuts.

My bad. You are right. I had, particularly, missed this line. Similarly, if you rate or review a movie on Qwikster, it doesn’t show up on Netflix, and vice-versa. That parts the funniest (saddest) bit of the day.

i love this headline "Silvercorp Turns Corner on "Short & Distort Manipulation Scheme"; Open Letter From Chairman - Marketwire(Mon 12:16PM EDT)"

Good quote!

Yah, I think this is exactly why they did it. Reed is way too good of a CEO/business man to have fucked this up unless he was basically forced to do it, which is what I think happened.

Ditto what everyones sad. I cancelled in July on the news.

To be clear, this post was 100% sarcastic. Amazing I have to point that out. haha

Come on Hester. They are all OK with shorts, it's the naked shorts that are putting companies out of business that otherwise are healthy and profitable. People selling and selling (naked shorting and naked shorting) without a borrow with just not enough demand to counter the selling, thus sending the stock to 0. Don't you get it? If only there was a way to stop the naked shorts from destroying healthy companies, what a world we'd live in.

lol @ what happens to the naked shorts :(