Jase, without looking at around this time last year, the share grab was the last avoidable situation the BOD had to duck for cover. This time almost a year to the day, they in my books tried to hide through accounting practices the allotment against the milestones. To correct this through additional communication to SH, oozes incompetence on their behalf.
I personally would like to thank Pman for digesting the accounts, obtaining an explanation or in reality having the BOD held to account.
In my books this is the second strike of discontent the BOD have shown to us, SH and owners of this company.
It is not difficult to announce to SH, we hit milestone 1 & 2.
For the BOD, it may be time to read Stephen Covey "How Leaders Build Trust"
The first job of any leader is to inspire trust. Trust is confidence born of two dimensions: character and competence. Character includes your integrity, motive, and intent with people. Competence includes your capabilities, skills, results, and track record. Both dimensions are vital.
With the increasing focus on ethics in our society, the character side of trust is fast becoming the price of entry in the new global economy. However, the differentiating and often ignored side of trust -- competence -- is equally essential. You might think a person is sincere, even honest, but you won't trust that person fully if he or she doesn't get results. And the opposite is true. A person might have great skills and talents and a good track record, but if he or she is not honest, you're not going to trust that person either.
The best leaders begin by framing trust in economic terms for their companies. When an organization recognizes that it has low trust, huge economic consequences can be expected. Everything will take longer and everything will cost more because of the steps organizations will need to take to compensate for their lack of trust. These costs can be quantified and, when they are, suddenly leaders recognize how low trust is not merely a social issue, but that it is an economic matter. The dividends of high trust can be similarly quantified, enabling leaders to make a compelling business case for trust.
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