Feeds

Oracle slips notes to Wall Street

'I have a gub....'

Designing a Defense for Mobile Applications

In the classic movie, Take the Money and Run, Woody Allen's character, Virgil Starkwell, tries to rob a bank with a note that says "Please put $50,000 into this bag and act natural. I am pointing a gun at you." The bank teller can't read his handwriting and insists that it says "gub," not gun. After consulting with a colleague at the bank, the teller says, "Oh, I see. This is a holdup. May I see your gun?"

By the time the scene is done, the whole bank is arguing with Starkwell, and he is sent to the clink for ten years for attempted robbery. And presumably bad penmanship.

Larry Ellison is no Woody Allen, and instead of having a gub, he has a Sug - or rather, the future of Sun Microsystems - in his hand as Oracle today priced up $4.5bn in investment grade notes to finance its impending $5.6bn takeover of that server and software maker two weeks from now. If Sun's shareholders approve of the deal. While we won't know the outcome of the Sun shareholder vote until July 16, Oracle expects to settle three different debt offerings by July 8.

The three notes that Ellison slipped to Wall Street include: $1.5bn in notes that pay out 3.75 per cent interest per year that are due in 2014, $1.75bn in notes that pay 5 per cent and are due in 2019, and $1.25bn in notes that pay 6.125 per cent that are due in 2039. (Does any of us honestly think any of the IT players will be around in 30 years?)

You can watch the robbery scene from the movie here on YouTube if you've never seen it before. It is a lot more amusing than watching Sun get eaten by Oracle. That's for sure. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.