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Saturday, March 10, 2007

Bakbone Software (BKBO) firings

Jeff, in the comments, points out this article saying that BakBone Software admits they fired three top executives. There's also rumors of Sun buying them out. To me, the firings would have nothing to do with a buyout, but I could be wrong.

In any case, the firings are evidence of something bad, I'm not sure what. But I continue to own the stock.

UPDATE March 21, 2007:
This 8-K BKBO just issued covers these same people and just says they're gone.
As of February 28, 2007, Douglas Spencer ceased to be Vice President, Research and Development of BakBone Software Incorporated (the “Company”) and is no longer an employee of the Company. As of March 6, 2007, Mark Milford ceased to be Senior Vice President, Worldwide Sales and Customer Service, and is no longer an employee of the Company.
These are two of the three. My wild guess is that perhaps the accounting digging that's been going on turned up something foul. That's just a guess.

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