Vladimir Senkov

Sun Micro Is Now Trading at Cash

Eric,

While I can't disagree that SUN is getting cheaper, I think you're overlooking some things on the balance sheet.
What about short term/current long term debt of 565M, deferred long term liabilities of 541M and other liabilities of 1055M?
So your scenario of getting the company "for nothing" is a bit too optimistic.

I'll give you a better example: TRID.
This company REALLY can be had for nothing.
But they are burning cash, maybe not as much as SUN, but still. And I guess the execs probably have "off balance sheet" parachutes written into their contracts, or maybe there are some other off balance sheet liabilities or poison pills. Otherwise why wouldn't we buy it today, close up shop and earn a huge return overnight?
With institutional holders like Renaissance Technologies it would seem like someone with resources would have done something already if it was actually doable.
So there, you have a much better candidate to take over and "have for nothing", but it still isn't happening.
So SUN is a long way from being "had for nothing".