I write this for those people who may have missed the bleedin'...

I write this for those people who may have missed the bleedin' obvious. This is not a criticism of any person in any way shape or form and it is not meant to be read that way. It IS however a criticism of the previous Management group or Board who let this Company slip into disarray. Back when the new CFO was appointed I really wondered whether she was the right choice. Not because I knew anything about her background, except to say she came from a Professional Accounting Firm. These Accountants spend their time crossing the T's and dotting the I's to ensure that all the required data is lodged when reporting and that everything is 100% correct and only deal with the Business on which they are reporting, etc. you get the point. BUT they don't manage a business. My observations over a long period of time is that these are not necessarily the best people for the job.They operate at high levels but maybe they can't see what is required to turn the Business around or indeed manage one. What was needed was an Accountant from Industry. Not especially hot to trot on the Financial Reporting, that's what the Professional Firms are for. HIL needed someone on the ground who has done the hard yards. Someone to make sure margins are maintained, someone who can tell salesmen to pull their head in when needed, someone who can put the neccesary controls and procedures in place and ensure they are maintained. Someone who understands inventory and its effect on cash flows, Someone who also can handle FOREX exposure, all the day to day nightmares that bring companies down. I may be totally wrong in what I am saying here but I blame the Board for a lack of understanding of who and what they needed. I especially feel sorry for the CFO who was thrown in the deep end of this flailing company with a Board whose expectations were not in my opinion realistic. My opinion only.