Friday, 17 August, 2001
Loki Software Files Chapter 11
A friend of mine sent methis link to a story about Linux game publisher Loki Software's Chapter 11 bankruptcy filing. This is unbelievable. Who in his right mind would work unpaid for 19 months and at the same time lend the company $100,000 via credit card? The employee (Colvin) certainly should be repaid, but one has to wonder what was going through his mind as he pulled out his credit card to help Loki meet payroll.
Employees of Loki are making noises about taking over the company, which I find very funny. Do you really think that a bunch of programmers who are dumb enough to work for a company that can't pay them, or accept a "loan" in lieu of payroll are smart enough to select a CEO who won't take advantage of them? If this is indicative of how Linux software companies are run, Windows software companies have nothing to worry about.