The no guidance thing is an increasing trend. I don't mind it. Too much weight is placed of on forecasting leading to big swings at reporting time if they miss slightly or sometimes just make par. I'm happy for them to just do their thing and be a quiet achiever.
I think the way the organic farming thing works their moat can only increase. They will continue to be able to set their own price and the market can only grow.
As for the board's bonuses. I think they need to demonstrate that large bonuses are earned and not automatic. Would the company be performing so well with a different board? Let's face it. Probably. Their bonus should be in keeping their job. Anything less than exceptional growth is a failure.
BAL Price at posting:
$12.03 Sentiment: Buy Disclosure: Held