america’s cup

Richard Waters

Wednesday will be a big day in the life of Lawrence J Ellison, co-founder and chief executive officer of Oracle, multi-billionaire, defending champion of the America’s Cup and head of Oracle Team USA.

It will also present an interesting test of where his true allegiances lie. As the boat he bankrolled with tens of millions of dollars faces defeat, will he choose to front Oracle’s quarterly earnings call or be out on San Francisco bay? 

David Gelles

It is perhaps with good reason that Larry Ellison does not speak in public that often. Whenever he does, the famously bombastic Oracle chief executive seems certain to trash his rivals, make bold predictions about Oracle’s future, and wander off topic.

Last night at a meeting of the Churchill Club, Mr Ellison said that Sun Microsystems was losing $100m a month as European regulators scrutinise Oracle’s proposed takeover of the struggling hardware maker.

On the economy, Mr Ellison said it would be at least another five years before the US begins to recover. He said it would not be a V shaped recovery with a sharp rebound, or a W shaped recovery with a double dip, or a U shaped recovery with a pause before an uptick, but an L shaped recovery — “down and not coming back up.”