Sun Microsystems Inc: $100 Million per Month Loss

We would have thought that as we are now fighting hard to climb out of this recession, companies would not be losing as much money as they were at the beginning of the year. Sun Microsystems Inc must be doing something wrong, as the hardware maker is losing $100 million per month.

According to Reuters, Oracle Corp has wanted to purchase the struggling hardware maker for some time, but Chief Executive Larry Ellison said that European regulators keep delaying the $7 billion purchase. European regulators have concerns about Oracle Corp’s intended ownership of Sun Microsystems.

Ellison said on the matter, “We’re not going to spin it off.” According to Forbes, Ellison is the world’s fourth richest man; he said that he expects the deal to eventually go through. Currently, the European Commission is conducting an in-depth probe, they fear that competition would be stifled, something that they do not want to see happen.