ROFLMAO ..
Sandie straw head,, many pmed me ,, that they wanted to say that,, for a long long time ,,
Right,,, go pump HVSF CMP and HDIE with Sandie ,,
Well another one of SA pump and dump BAANF ,,
Made the Wall Street Journal too ..
Goldman Sachs files that they bought 10.5% stake in BAANF ,,,
R O F L M A O ..
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Jan Baan Will Not Seek a Seat
On Baan's Supervisory Board
By MATTHEW ROSE
Staff Reporter of THE WALL STREET JOURNAL
LONDON -- Jan Baan won't seek election to the supervisory board of software maker Baan NV, a move that leaves Mr. Baan without an active role in the company he co-founded 20 years ago.
The Baan company said Mr. Baan "has decided to pursue other interests full-time," including the administration of his charitable organization. Mr. Baan, 52 years old, had previously said he wanted a seat on the board.
Baan to Post Quarterly Loss; Stock Slides 25% on News (Oct. 13)
Baan Co. Reports Flat Earnings After Founder, Chairman Leaves (July 29)
Founder Jan Baan to Step Down As Chairman of Software Firm (July. 28)
As a result of the surprise decision, Baan, based in Barneveld, the Netherlands, now counts neither of its two original founders, Jan and his brother Paul, as executives or board members. The brothers, who control around 30% of the company's stock, came under fierce investor criticism earlier this year, following revelations that a series of private companies they controlled were buying products from Baan and absorbing costs that boosted the public company's bottom line.
The change of leadership at the once-successful company has been rapid. At the beginning of this year, Jan and Paul Baan held seats on the company's management and supervisory boards, respectively, and Jan Baan was chief executive, a position he relinquished in July. The two brothers, a financial consultant and housing construction executive by training, became celebrities in their home country as Baan grew rapidly to challenge industry leaders like Germany's SAP AG. Baan makes corporate software that ties together companies' internal operations.
Baan president Mary Coleman said Jan Baan's final severing of links with the company will help Baan clean up its tangled corporate structure and restore investor confidence. "We are trying to minimize related transactions and it is always a concern [to investors] when there is a related shareholder," she said.
A spokesman for Mr. Baan said he wasn't available for comment.
At the close of trading on the Amsterdam stock exchange Thursday, Baan's stock closed at 22.70 guilders ($12.02), up 1.60 guilders after heavy losses Wednesday. Analysts, however, said the move was merely symbolic and didn't address some of the more pressing problems at the company. In the third quarter this year, Baan made an unexpected loss of 16 cents a diluted share, citing a market slowdown, and took a $110 million charge to cut up to 20% of its work force. "There are more issues here than Jan Baan," said Derek Brown, a software analyst at BT Alex. Brown in London.
Separately, investment bank Goldman Sachs & Co. took a 10.5% stake in Baan, according to a filing with the U.S. Securities and Exchange Commission, which would be worth about $240 million at current market prices. A spokesman for the bank said the firm doesn't comment on trading. A source familiar with the trade, however, said it was not an investment the firm made on its own account.
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