a rare mea culpa..

VPGs

I have seen many reports and announcements over time from dodgy and hopeless boards / directors. Universally it is always someone elses fault..
Or if something bad (by the company) is to be reported, it is a line item.

So it was pleasing to see in the AGM presentation http://www.asx.com.au/asxpdf/20091130/pdf/31mf3nk6446p1w.pdf , bottom of page 3 by Trevor Gerber
"As a fellow securityholder i am disappointed in the erosion of security holder value over the past 18 months. On behalf of the board I would like to express regret and apologies to all security holders."

This gives me hope. In contrast, i hold OZL stock. At no stage have they ever apologies to what they did and still do to shareholders (fx losses etc). Often there is acomplete disconnect between boards and their share holders. A bit like a Richie Rich swimming in the gold in the fault.

Cheers