Stories by Stacy Cowley

Oracle president avoids controversy

Oracle President Charles Phillips opened Oracle's largest user show to date with a keynote address that avoided controversial topics like Oracle's hostile bid for PeopleSoft and focused instead on a high level overview of Oracle's vision for flexible, integrated IT systems.

Judge rejects PeopleSoft class action settlement

The Delaware judge overseeing the legal wrangling there between PeopleSoft and hostile suitor Oracle rejected on Wednesday a settlement that PeopleSoft had arranged with a group of dissident shareholders.

PeopleSoft, Oracle standoff likely to linger

The standoff between Oracle and PeopleSoft is once again at an impasse, as PeopleSoft's board refuses to sell the company at the price Oracle has offered, and Oracle refuses to raise its bid.

Majority of PeopleSoft shareholders accept Oracle bid

A majority of PeopleSoft's shareholders gave Oracle the green light to continue its hostile bid for control of the company, tendering more than 60 percent of PeopleSoft's outstanding shares into Oracle's US$24 per share cash offer by the Friday deadline.

Oracle to drop PeopleSoft suit if tender fails

Oracle notified Delaware's Court of Chancery of plans to drop a lawsuit pending against PeopleSoft if PeopleSoft shareholders reject Oracle's tender offer. The notification is a sign that Oracle is serious about its current offer being the final one.

PeopleSoft, Oracle await Delaware court ruling

The second and final week of a Delaware court trial relating to Oracle's hostile takeover bid for PeopleSoft turned into an extended negotiating session between the two sides. Oracle executives criticised PeopleSoft's business in an apparent attempt to drive down PeopleSoft's selling price, while PeopleSoft rewrote for the sixth time the controversial "customer assurance programme" (CAP) that could significantly increase Oracle's acquisition costs.

Firing Conway costs PeopleSoft $3.2M

Firing Craig Conway will cost PeopleSoft at least $US3.2 million, a payment for salary and bonuses Conway would have earned over the next two years, the company said earlier this month in a regulatory filing describing its separation agreement with its former chief executive.

PeopleSoft posts solid Q3 revenue growth

PeopleSoft Inc. raced past analyst expectations in its just-ended quarter, reporting on Thursday a 12 percent increase in revenue, to US$698.8 million, and a slight uptick in revenue from software license sales.

IBM posts broad Q3 revenue growth

IBM posted quarterly results on Monday showing 9 percent revenue growth from last year and slight earnings growth, despite a US$320 million charge it took during the quarter to settle some claims in a lawsuit over its pension plan.

Ellison: Oracle may cut its PeopleSoft bid

Soon after an Oracle director said Oracle's current US$21 per share offer for control of PeopleSoft may not be its final bid, Oracle Chief Executive Officer (CEO) Larry Ellison countered that the company is as likely to lower its bid as to raise it.

PeopleSoft trial airs dirty laundry

As PeopleSoft and Oracle continue dragging each other into courtrooms across the country, the trials are bringing to light reams of internal documents and discussions usually hidden from public view.

CA cutting 5 percent of workforce

Computer Associates International (CA) plans to cut 800 positions worldwide, 5 percent of its workforce, in hopes of shaving US$70 million annually off its operating costs.