re: Ann: Ardent Leisure Group Half Year Finan...
The other way of looking at it Legume, is that shareholders who remained invested in the stock market during the GFC were stupid. Those that stayed on the sidelines would have picked Ardent (and a lot of other shares) up for a bargain after the dust had cleared. Ultimately, a company can only be as good as the macro economic environment will allow it to be and Ardent is very sensitive to the economy and consumer sentiment.
To give you an example,no matter what David Jones, Myer, Harvey Norman, Premier Retail etc management do, if consumers decide they're not going to spend, then those businesses will perform poorly. Investors that remained invested in retail stocks when the writing was on the wall were stupid- they shouldn't blame management who can only do their best with the hand they are dealt by the macro economy (unless of course the management are plain incompetent, in which case I agree with you they shouldn't receive generous salaries for failure).
In any event, how has Ardent's salaries ballooned- are they paid any more than other companies their size?
AAD Price at posting:
$1.06 Sentiment: None Disclosure: Held
