Divan TV, page-194

No, not at all friend. I have no inside track. I do however ask questions and pull at threads so when someone with Alan Boyd's pedigree suddenly turns up on TV2's board I become intrigued. While many had a quick look at his bio, saw Microsoft and yelled "woohoo!" without looking further, I (and a couple of others who aren't emotionally invested) took the time to ask the key question - how did this man and TV2 cross paths? What happened for him to take up a board position? After the resignation of two directors earlier, if they needed to appoint someone to fill a gap, surely they could have sourced someone from Australia. What relationship could this man possibly have with TV2?

While his time at Microsoft is what he is known best for, we need to look more to his current interests. Given his links to investment houses and potentially high net-worth people, the question of how they crossed paths begins to make a little more sense. As many folks here have noted, there is an extraordinary flow of cash going out of the company each quarter and no-one would (in my view only of course) consider investing if that were to continue unchecked. No-one is going to drop a couple of million into a company if the CEO is just going to churn through it with an unreasonable salary and business class flights all over the world (except back to Australia for the AGM but that's a different matter). Add to that the massive "admin" expenses and it's a very unattractive proposition.

As such, I believe the only way that someone invests a significant sum is if they can have a seat at the big table in order to provide oversight to the spending and the activities. In this way, a potential investor has the ability and right to request representation on the board in order to safeguard an investment.
With that in mind, the questions about the Boyd appointment seem to make a bit more sense. I honestly see no way that he and TV2 cross paths in the wild but if a significant investor from one of Boyd's associates is involved then it's a different story.

Now, that said - I also believe that the company is approaching the event horizon and things are about to get really funky. If this appointment was done ahead of a potential investment and the company has now deteriorated, you may see Boyd walk, which would mean the investment has walked also. If that happens then the company will cross the event horizon and that'll be the last you'll see of them (my view only of course). I think the big variable now is whether he stays. THAT is going to be your canary in the coal mine (apologies to Stevenjd for violating his mortgage on metaphors)

All my personal view only and a guarantee that I am NOT in any way privy to information not already in the public domain.