3SOF

UPDATE 2-Silicon Graphics seeks Chapter 11 protection
Mon May 8, 2006 12:24 PM ET

(Adding CEO comment, details on creditors, updates shares)

BOSTON, May 8 (Reuters) - Silicon Graphics Inc. known for computers that create special effects for Hollywood movies, on Monday filed for Chapter 11 bankruptcy protection, sending the once-hot technology company's shares plunging 82 percent.
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SGI (SGID.OB: Quote, Profile, Research) said it expects to be out of Chapter 11 within six months.

In its court filing, SGI said its business had been challenged by delays in introducing new technology, a focus on more specialized markets and more intense competition from larger rivals.

The Mountain View, California-based company also said in a news release it had reached an agreement with senior secured lenders on the terms of a reorganization plan that will reduce its debt by about $250 million.

SGI has already struggled with a restructuring round and overhaul of top management. In January, it named board member Dennis McKenna as chairman and chief executive, replacing 20- year SGI veteran Robert Bishop.

McKenna cut spending, but apparently not enough to offset disappointing sales. Last month, SGI warned quarterly revenue would miss its own forecasts, saying the shortfall was partly due to uncertainty in the wake of McKenna's arrival.

McKenna on Monday tried to reassure investors and clients he would improve the company's financial health.

"We want to assure our customers, our employees and our communities that SGI is operating -- business as usual," he said in a statement. "Our customers can continue to rely on SGI.

Silicon Graphics shares were down 26 cents, or 82 percent, at about cents in heavy midday trading.

SGI is best known for high-powered computers used in creating movie special-effects. The machines are also used for pharmaceutical research, petroleum exploration and in the financial industry.

The company was started by Jim Clark, who went on to found Netscape Communications Corp., the Web-browser developer that's credited with helping to promote the mainstream use of the Internet. SGI's old offices now serve as the headquarters of Internet powerhouse Google Inc. (GOOG.O: Quote, Profile, Research)

Silicon Graphics filed for the bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.

As of March 31, SGI had about $369 million in assets and $664 million in debt, according to the court filing.

Its two largest unsecured creditors are JPMorgan with $57 million in claims and Solectron with $10 million.

SGI named AlixPartners LLC as its restructuring advisor and Bear Stearns & Co. as its financial advisor for the Chapter 11 case. (Additional reporting by Michele Gershberg in New York)
© Reuters 2006. All Rights Reserved.

Someone had bought 3 Millions at around 6 cent !

Quote from: waxweazle on May 08, 2006, 03:22:17 PM
Someone had bought 3 Millions at around 6 cent !

The stock is oversold and today is a Conference Call! When we got good news on this the shorties must cover tomorrow. We  will see what is out at the CC.

Call 5 Cent close 7 cent

It will be intristing tomorrow what the shorties do 

This thing is hoz like ONEIDA ( oneie.ob ! wow

Today the shorts must buy back!

SGI Introduces 4-Gigabit Fibre Channel Storage to the Mid-Range Market
Tuesday May 9, 9:00 am ET
SGI InfiniteStorage 4000 Delivers Price/Performance for Both Technical Computing and Business Applications

MOUNTAIN VIEW, Calif., May 9 /PRNewswire-FirstCall/ -- As requirements for enterprise and high-performance computing continue to converge due to unabated data growth in both markets, Silicon Graphics (OTC: SGID - News) today announced the industry's first 4-gigabit Fibre Channel-based storage system designed for the mid-range market: the SGI® InfiniteStorage 4000. The SGI InfiniteStorage 4000 continues the tradition of industry-leading storage technology from SGI's InfiniteStorage product line. Delivering cost-effective, scalable storage, the SGI InfiniteStorage 4000 features a combination of capacity and adaptable performance that will help IT organizations meet the current and future needs of highly technical computing and business applications.

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"With the SGI InfiniteStorage 4000, SGI is demonstrating its commitment to providing customers with versatile storage systems that deliver scalability and high performance in a cost-effective package. SGI delivered 4Gb storage to the market before anyone else and has a strong history of delivering reliable high performance," said John Howarth, director, Storage Group, SGI. "Allowing smaller businesses and workgroups access to 4Gb Fibre Channel storage means that they can take advantage of technology previously limited to large scale, big-budget high-cost installations; and realize significant cost and time savings."

SGI InfiniteStorage 4000 offers greater flexibility for IT organizations allowing them to balance capacity and performance needs to fit their situation. For businesses with ERP, CRM and corporate databases, the SGI InfiniteStorage 4000 can be configured with features to deliver the highest levels of interactive performance. Alternately, for technical environments that require the movement of large amounts of data, the SGI InfiniteStorage 4000 can be deployed as price/performance storage for streaming data. As a repository for reference data or as a second tier in a data lifecycle management hierarchy the SGI InfiniteStorage 4000 can serve as low-cost, large capacity storage, scaling up to 56TB in a single system. In addition, the SGI InfiniteStorage 4000 gives customers more choice by allowing them to select the appropriate drive type, and even allowing them to intermix Fibre Channel and SATA drives to maximize performance and minimize costs.

Today's IT managers are continuously challenged by the ever increasing need for data storage, flat or declining budgets and lack of data center space. The SGI InfiniteStorage 4000 counters these challenges by delivering a platform that is cost effective, easy to manage, and 54% more dense than previous storage systems. Moreover, the SGI InfiniteStorage 4000 provides superior investment protection. The SGI InfiniteStorage 4000 can be seamlessly upgraded to an enterprise-class SGI InfiniteStorage 4500 with data in place when business requirements demand even more performance and/or scalability. The new 4GB Fibre Channel enclosures can also be added to most SGI legacy systems to extend the value of past investments still in production.

Availability

The SGI InfiniteStorage 4000, based on Engenio technology, can be ordered today for delivery this quarter and is RoHS compliant. As needs for capacity and scalability grow, the SGI InfiniteStorage 4500 will start shipping in June. For more information, contact SGI or visit http://www.sgi.com/products/storage.

SILICON GRAPHICS | The Source of Innovation and Discovery(TM)

SGI, also known as Silicon Graphics, Inc. (OTC: SGID - News), is a leader in high-performance computing. SGI helps customers solve their computing challenges, whether it's sharing images to aid in brain surgery, finding oil more efficiently, studying global climate, providing technologies for homeland security and defense, enabling the transition from analog to digital broadcasting, or helping enterprises manage large data. With offices worldwide, the company is headquartered in Mountain View, Calif., and can be found on the Web at www.sgi.com.

NOTE: Silicon Graphics, SGI, the SGI cube and the SGI logo are registered trademarks, and The Source of Innovation and Discovery is a trademark of Silicon Graphics, Inc., in the United States and/or other countries worldwide. All other trademarks mentioned herein are the property of their respective owners.

This news release contains forward-looking statements regarding the sale of products that are subject to risks and uncertainties that could cause actual results to differ materially from those described in such statements. The reader is cautioned not to rely unduly on these forward-looking statements, which are not a guarantee of future performance. Such risks and uncertainties include financial and contractual commitments, the installation and performance of hardware and software, reliance on performance of third-party partners, timely delivery of the system, acceptance of the system by the customer, the impact of competitive markets, the ability to integrate and support a complex technology solution involving multiple providers and users, and other risks detailed from time to time in the company's most recent SEC reports.

    MEDIA CONTACT
     Lisa Pistacchio
     [email protected]
     650.933.5683

     SGI PR HOTLINE
     650.933.7777

     SGI PR FACSIMILE
     650.933.0283


Source: SGI

First-Ever Simulation of Functioning Organism Spawned by Ingenuity of Illinois Researchers and Power of SGI Altix
Wednesday May 10, 9:00 am ET
Achieving Simulation of Plant Virus at Atomic Level Would Have Taken 35 Years Using Modern Desktop Computer

MOUNTAIN VIEW, Calif., May 10 /PRNewswire-FirstCall/ -- In another achievement for scientists breaking new ground on SGI® (OTC: SGID - News) Altix® systems, researchers in Illinois have created the first atomic-level simulation of a complete, functioning organism. Researchers hope the breakthrough will speed development of new drugs to combat viruses in plants, animals and even people.

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A research team led by Professor Klaus Schulten at the University of Illinois at Urbana-Champaign simulated a plant virus with as many as 1 million moving atoms. The achievement is historic due to the sheer complexity of the problem: Had the researchers relied on today's desktop computer systems, they wouldn't have finished until 2041.

Dr. Schulten's team leveraged part of an SGI® Altix® 3700 Bx2 system located at the National Center for Supercomputing Applications (NCSA). The Altix system allowed them to calculate how all the atoms interact every femtosecond, or one-millionth-of-a-billionth of second.

Although the virus is small -- so small, in fact, that biologists refer to it as a particle -- the ability to simulate the organism as it functions holds tremendous promise for medical research. "It allows us to see how the virus assembles and disassembles," notes Peter Freddolino, a member of the Illinois research team, which also includes physicist Anton Arkhipov. "Because assembly and disassembly are two of the key steps in the viral life cycle, understanding these events could lead to the development of drugs designed to attack them at these vulnerable points."

The project, reported in the March issue of the scientific journal Structure, is the first successful case of biological reverse-engineering of a complete virus. "This is on the highest end of what is feasible today," said Schulten. "The approach is something that we learned from engineers: Reverse engineer the subjects you're interested in and test fly them in the computer to see if they work in silico (or simulated on a computer) the way they do in vivo (in the body). Naturally, deeper understanding of the mechanistic properties of other, more complicated viruses will eventually contribute to public health and medicine."

While the virus attacks plants, the researchers predict that someday, drugs for animals or even humans may be designed and refined with the help of computer-based simulations like the one developed with SGI Altix.

For the researchers, NCSA's Altix system proved a powerful, efficient resource. Despite the complexity of the project, the researchers needed just 50 days and a fraction of the NCSA's 1,024-processor Altix system: Most simulations used 256 processors and 128GB of total memory, leaving the rest of the NCSA system available for other projects. The team's scalable molecular dynamics code, known as NAMD, segments tasks across processors and memory, enabling simulations to make the most of as many processors and as much memory as they require.

"The Altix platform has excellent single node performance and a very efficient MPI implementation," said Freddolino, "and both of these factors made the system very useful in performing our work efficiently."

"The ideal situation is to work with a powerful computing platform that provides output quickly and with minimal disturbance. In this way, the underlying science is the focus of the effort. NCSA provided exactly that," added Schulten, a long-time NCSA user.

"The federal government is renewing its commitment to high-performance computing through a series of major upcoming awards for systems substantially larger than those we support today," said Thom Dunning, director, NCSA. "It's incumbent upon centers like NCSA to make the most of these investments by working closely with scientists like Professor Schulten as well as entire communities of scientists. We have developed new ways to allocate supercomputing resources, such as our large-scale SGI Altix deployment, to give scientists what they need in order to make incredible breakthroughs like the simulation of an entire living thing."

The smallest natural organisms known, viruses contain intricate mechanisms for infecting host cells. The Illinois researchers simulated one of the tiniest and most primitive viruses in an attempt to recreate the process of infection and propagation. The satellite tobacco mosaic virus attacks tomato plants throughout the US, and relies on a host cell and a host virus to reproduce.

While they simulated the activity of the viral organism over just 50 nanoseconds of time, the researchers were able to determine that the virus, which appears symmetrical, actually pulses in and out in an asymmetrical pattern. "We observed that each part of the viral structure moves a little bit on its own," noted Arkhipov, who has worked with Freddolino and Dr. Schulten since the project's inception a little more than a year ago. The team's simulated findings support observations made by others in traditional laboratory work. Those earlier observations, however, left researchers wondering what caused the behavior -- something that remained a mystery until today.

The Altix family leverages the built-in SGI® NUMAlink(TM) interconnect fabric, which allows global addressing of all memory in the system and delivers data up to 200 times faster than conventional interconnects. For the first time, more complex data sets and complete workflows can be driven entirely out of memory, enabling productivity breakthroughs that traditional Linux clusters or repurposed UNIX® servers can't achieve. Altix systems offer breakthrough flexibility and configurability, scaling to up to 512 processors per node. Based on a 64-bit Linux® operating environment, the Altix family is uniquely capable of independently scaling processors, shared memory and/or I/O on a single, standard chassis with different expansion modules, providing optimal resource usage for demanding technical applications.

SILICON GRAPHICS | The Source of Innovation and Discovery(TM)

SGI, also known as Silicon Graphics, Inc., is a leader in high-performance computing. SGI helps customers solve their computing challenges, whether it's sharing images to aid in brain surgery, finding oil more efficiently, studying global climate, providing technologies for homeland security and defense, enabling the transition from analog to digital broadcasting, or helping enterprises manage large data. With offices worldwide, the company is headquartered in Mountain View, Calif., and can be found on the Web at www.sgi.com.

NOTE: Silicon Graphics, SGI, Altix, the SGI cube and the SGI logo are registered trademarks and NUMAlink and The Source of Innovation and Discovery are trademarks of Silicon Graphics, Inc., in the United States and/or other countries worldwide. Linux is a registered trademark of Linus Torvalds in several countries. Intel and Itanium are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries. UNIX a registered trademark of The Open Group in the U.S. and other countries. All other trademarks mentioned herein are the property of their respective owners.

     MEDIA CONTACT
     Marla Robinson
     [email protected]
     256-773-2371

     SGI PR HOTLINE
     650-933-7777

     SGI PR FACSIMILE
     650-933-0283

SGID will restructure the company in 6 month when they really make this good.
And i think so this will be a 500% runner.

look at this this stock restructer complet!!!




wow  and this can also done with SGID

SGI Receives Court Approval of First Day Motions
Ticker Symbol: U:SGID



MOUNTAIN VIEW, Calif., May 10 /PRNewswire-FirstCall/ -- Silicon Graphics announced today that it received interim approval to use its $70 million financing facility provided by a group of its bondholders. This credit facility will fund day-to-day business operations including employee salaries, benefits, supplier payments, and other operating expenses during the reorganization process.

The Company intends to make timely payment for goods and services provided on or after the filing date in the normal course of business and in accordance with terms of existing supplier agreements.

In addition, the Court granted approval at the hearing yesterday for a number of other "first-day" motions to support the Company\'s employees and suppliers as well as customers and other stakeholders. These orders enable SGI\'s business to continue without disruption. Among the motions granted, SGI received approval to:


* Continue to pay employee wages and provide healthcare and other

similar benefits;

* Pay suppliers for goods and services provided after the filing; and

* Maintain uninterrupted delivery of products and services to its

customers.


"We are pleased with the approval of our \'first-day motions\' by the Bankruptcy Court," said Dennis McKenna, chairman and chief executive officer. "This approval will enable SGI to operate globally and meet normal business obligations."

SGI\'s cases are being presided over by the Honorable Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York. The Silicon Graphics consolidated case number is 06-10977 (ALG).

On Monday, May 8, SGI and its domestic U.S. subsidiaries filed voluntary petitions for business reorganization under Chapter 11 of the U.S. Bankruptcy Code. SGI\'s non-U.S. subsidiaries were not included in the filing and will continue their business operations without supervision from the U.S. courts.

More information about SGI\'s reorganization is available on the Internet at www.sgi.com/reorg.

Forward-Looking Statements

This news release contains forward-looking statements relating to future events or expected financial performance that involve risks and uncertainties. Factors that might cause such a difference include, but are not limited to: the effects of our chapter 11 filing; our ability to maintain adequate liquidity; and our ability to obtain and maintain normal terms with customers, suppliers and service providers. These and other risks are or will be detailed from time to time in SGI\'s periodic reports that are filed with the Securities and Exchange Commission, including the Form 8K filed on May 8, 2006, the form 8K filed in conjunction with this announcement and SGI\'s quarterly report on Form 10-Q for the quarter ended December 30, 2005. Silicon Graphics is under no obligation to publicly update or revise any forward-looking statements, whether changes occur as a result of new information, future events or otherwise.

SILICON GRAPHICS | The Source of Innovation and Discovery(TM)

SGI, also known as Silicon Graphics, Inc., is a leader in high-performance computing. SGI helps customers solve their computing challenges, whether it\'s sharing images to aid in brain surgery, finding oil more efficiently, studying global climate, providing technologies for homeland security and defense, enabling the transition from analog to digital broadcasting, or helping enterprises manage large data. With offices worldwide, the company is headquartered in Mountain View, Calif., and can be found on the Web at www.sgi.com.

NOTE: Silicon Graphics, SGI, the SGI cube and the SGI logo are registered trademarks and The Source of Innovation and Discovery is a trademark of Silicon Graphics, Inc., in the United States and/or other countries worldwide. All other trademarks mentioned herein are the property of their respective owners.


MEDIA CONTACT

Lisa Pistacchio

[email protected]

650-933-5683



SGI PR HOTLINE

650-933-7777



SGI PR FACSIMILE

650-933-0283


Silicon Graphics, Inc.



CONTACT: Lisa Pistacchio of SGI, +1-650-933-5683, or [email protected]



Web site: http://www.sgi.com//

Today another day in green 

wait for a nice Squeezz

and the gap closeing

Hi Waxweazle,

Yes I always liked SGI, owned it a few years ago but not now.  I think its alot like KLUCQ, after restructuring, they will have new investors, new bondholders and new stock.  Its the new stock you want to own, not the current stock as it will most likely be worthless when it stops trading.  Yes it always appears that the companies emerge from bankrupcy and go on to become strong companies again.  But really they are new companies with new investors, they are just using the old company name.

Could play it here, but be careful not to be left holding the bag if the current shares stop trading.

Good luck

Quasi