17th article since Monday...all say Joe is OUT

[Bullsno1]

Newman voted out as CEO
By Eric Page | Friday, February 09, 2007
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Joe Newman no longer is running the American Basketball Association.
Or is he?

That depends on who you ask.

ABA president Tom Doyle issued a news release Monday announcing the corporation’s board of directors had voted out Newman as CEO.

Later Monday, Newman put out a release saying Doyle’s claim was bogus. And he was sticking to his guns Thursday afternoon.

“It’s erroneous, and it won’t happen,” Newman said. “It’s an attempted hostile takeover, and it won’t happen. They’re trying, but it won’t happen.”

It apparently did happen.

American Basketball Association, Inc., which went public in December, has filed paperwork stating the board of directors voted 3-2 on Jan. 31 to remove Newman. Newman delivered a notice the same day that he and a group, which controls more than half the company’s stock, plans to take action to remove from the board the three who voted to oust Newman.

For now, those three — one of whom is former NBA player John Salley, the ABA’s commissioner — are operating as if Newman no longer is in charge. And for at least the next 20 days, the time it takes Newman’s resolution to go through, he isn’t.

But Newman still controls the league’s Web site, abalive.com, and he has removed Doyle from the league contact information link, where he was listed as president days ago.

“He is president of the league for the time being,” Newman said of Doyle. “That’s all he is. He can put out his conflicting reports and do whatever he wants. He does not speak for the ABA. I have absolutely no interest in him at all.”

Newman has upped his “Ask the CEO” entries on the site, posting three in the past week, more than the previous three months combined.

A call to Doyle was answered, “ABA league office,” but Doyle was not available.

Two of the ABA’s prized franchises, the defending-champion Rochester Razorsharks and the Maryland Nighthawks, were in favor of relieving Newman of his duties.

“The change was necessary to continue to protect the best interests of the shareholders,” Razorsharks president Steve Rossi said. “The board followed all the SEC rules. As of this moment, legally, Joe is still a member of the board of directors, but he is no longer CEO.”

Rossi added that Doyle is actively running the league at this time.

[Chuck the Writer]

Well, if there was any concrete proof needed regarding the situation, I found it on the ABA's website - a link to the SEC filing.

http://www.sec.gov/Archives/edgar/data/1332044/000114420407005571/v064649_8k.htm

And sure enough, there was a meeting to remove Joe Newman from office - followed by a move by Joe Newman to remove Tom Doyle from office.

If this keeps up, the only franchise left will be the Utica Wreckers.

[Fells]

Well, if there was any concrete proof needed regarding the situation, I found it on the ABA's website - a link to the SEC filing.

http://www.sec.gov/Archives/edgar/data/1332044/000114420407005571/v064649_8k.htm

And sure enough, there was a meeting to remove Joe Newman from office - followed by a move by Joe Newman to remove Tom Doyle from office.

If this keeps up, the only franchise left will be the Utica Wreckers.

To follow all of this, you need a flow chart, but here is what I have pieced together:

The league is in flux right now, but it appears as if Tom Doyle is in charge. This is according to the initial SEC filing voting Joe out, which supercedes Joe's filing saying he had voted out Doyle, Salley, and the other guy whose name I always forget.

According to one source, there is a meeting today that will formalize Joe's removal as CEO with Mr. Doyle to take over. According to this source,(who is very reliable) Joe is "preparing himself for his removal as CEO". Now, that last statement could mean anything from he will go quietly, to Joe filing a lawsuit or another SEC brief.

There is so much that can happen in the next few days. I will be interested to see how this all pans out.

[BasketballUSA]

Tom has all the legal right to oust Joe, vote was 3 -2
The vote was recorded at the SEC, SEC stamped it.
Joe submitted he has a vote of shareholders to oust Tom and company. he didnt give notice to shareholders as required by law ( 20 days) Joes attoney is like Joe, do what he wants, ignore the law. So Joe has to give all shareholders notice he wants a vote to get back in and kick out Salley, Doyle and the third guy. ( Not so smart but this is Joe remember)
Tom is in charge and has the ABA bank account taken away from Connie, interesting enough , Joe cannot sign Checks, only his wife can. She is not an officer of the corporation.
Tom discovers Joe has made side deals with others to get votes. One shareholder turns document over to tom. Tom says I and the board never agreed to this. Shareholder files suit aganist Joe.
Tom now has to go to court and get an injunction for Joe to stop being a wild man out of control. Hearing today at 1pm Eastern Time in Indianapolis. After the hearing, Board has a vote to implement new and necessary changes to watch the money ( fiduciary responsibility), Joe and Tinkham will vote no,,again they are defeated 3 -2. The board has 2 baskeball executives to place in charge of operations they have hired. Board votes to start new and leagal web site. www.newABA.com. This is factual and up todate.

[preeths]

Ignoring for now the fact that newaba.com is already taken, can you provide any substantiation for these claims? Yes, we know about the board vote and Mr. Newman's response to it, but what about the rest?

[Fells]

Tom has all the legal right to oust Joe, vote was 3 -2
The vote was recorded at the SEC, SEC stamped it.
Joe submitted he has a vote of shareholders to oust Tom and company. he didnt give notice to shareholders as required by law ( 20 days) Joes attoney is like Joe, do what he wants, ignore the law. So Joe has to give all shareholders notice he wants a vote to get back in and kick out Salley, Doyle and the third guy. ( Not so smart but this is Joe remember)
Tom is in charge and has the ABA bank account taken away from Connie, interesting enough , Joe cannot sign Checks, only his wife can. She is not an officer of the corporation.
Tom discovers Joe has made side deals with others to get votes. One shareholder turns document over to tom. Tom says I and the board never agreed to this. Shareholder files suit aganist Joe.
Tom now has to go to court and get an injunction for Joe to stop being a wild man out of control. Hearing today at 1pm Eastern Time in Indianapolis. After the hearing, Board has a vote to implement new and necessary changes to watch the money ( fiduciary responsibility), Joe and Tinkham will vote no,,again they are defeated 3 -2. The board has 2 baskeball executives to place in charge of operations they have hired. Board votes to start new and leagal web site. www.newABA.com. This is factual and up todate.

Yeah, that site is for a non-profit agency. You might want to try out the site before you post it.

[rams80]

Tom has all the legal right to oust Joe, vote was 3 -2
The vote was recorded at the SEC, SEC stamped it.
Joe submitted he has a vote of shareholders to oust Tom and company. he didnt give notice to shareholders as required by law ( 20 days) Joes attoney is like Joe, do what he wants, ignore the law. So Joe has to give all shareholders notice he wants a vote to get back in and kick out Salley, Doyle and the third guy. ( Not so smart but this is Joe remember)
Tom is in charge and has the ABA bank account taken away from Connie, interesting enough , Joe cannot sign Checks, only his wife can. She is not an officer of the corporation.
Tom discovers Joe has made side deals with others to get votes. One shareholder turns document over to tom. Tom says I and the board never agreed to this. Shareholder files suit aganist Joe.
Tom now has to go to court and get an injunction for Joe to stop being a wild man out of control. Hearing today at 1pm Eastern Time in Indianapolis. After the hearing, Board has a vote to implement new and necessary changes to watch the money ( fiduciary responsibility), Joe and Tinkham will vote no,,again they are defeated 3 -2. The board has 2 baskeball executives to place in charge of operations they have hired. Board votes to start new and leagal web site. www.newABA.com. This is factual and up todate.

stop...just stop...now...

[Minor League Man]

www.newabalive.com is registered though.

[BasketballUSA]

http://new.abalive.com

[BasketballUSA]

Here it is, back to the Newer web site. It will be updated as soon as possible.
Joe is not very happy now. But when you lie all your life it cathces up with you.

Plus Joe owes the creater of this web site and maintenance over $300,000. thats the next law suit thats comming. Joe why dont you just STOP? Everyone knows your game.

http://new.abalive.com


Please disreguard ABALIVE.com. Joe is not the CEO and his postings are not sanctioned by the board of Directors of the ABA. Thank you

[Minor League Man]

Looking forward to Monday, when there is an update.

[AConcernedCitizen]

You're not joking...this is for compelling reading...:eek:

[rams80]

Here it is, back to the Newer web site. It will be updated as soon as possible.
Joe is not very happy now. But when you lie all your life it cathces up with you.

Plus Joe owes the creater of this web site and maintenance over $300,000. thats the next law suit thats comming. Joe why dont you just STOP? Everyone knows your game.

http://new.abalive.com


Please disreguard ABALIVE.com. Joe is not the CEO and his postings are not sanctioned by the board of Directors of the ABA. Thank you

For all we know, you made that website. (See what happens when you destroy your credibility with sockpuppets and witholding sources?)

[jamesaba]

For all we know, you made that website. (See what happens when you destroy your credibility with sockpuppets and witholding sources?)

This "newabalive" site has been up from day one. Its the Space 150 site. All that was changed is that www.abalive.com no longer forwards to "newabalive"....Tom didn't make that new site or just set it up now. In fact, it hasn't been updated since the All Star Game!