accountability

My biggest problem was the lengthy disclaimer contained in the opening pages of today's release, part of which read:

"Neither Nexus nor any other person accepts any responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information."

I know it's fairly standard "legal speak" but it really does highlight just how little accountability there is by management to the company shareholders. As I read through the entire presentation, I couldn't shake the thought that none of the targets and forecasts were ANYONE'S responsibility!

Positive results are no longer months, but years overdue and present management must surely only have until November to justify it's survival at the AGM. It really does feel like a boys club in need of drastic personnel changes. At the 2011 AGM, I thought that the top shareholders must have known something when they chose to keep these guys, against all conventional wisdom.

Perhaps this time around, the majority will make the right decision. Or better still, the share price skyrockets so high in the coming weeks that even I want to re-elect them.