I agree that business is going well. I just don't rate LC as you...

I agree that business is going well. I just don't rate LC as you do. There are competitors for Minto.

https://www.ausproof.com.au/products/
https://www.connec.com.au/

If I gave you any business and you didn't go to work and just employed some people with no equity in it to run it, how well do you think the business would go? Then you put a bunch of lawyers on the Board, (Herceg, Green, Miotti) and then you put a fund manager, followed by an insolvency guy all of whom have no experience in running an industrial business sounds like a great way to go backward as your competitors plan new products, make acquisitions and move forward.

I think the business is cheap but it lacks scale, makes no money from anything other than Minto, has no executive directors, has had a record number of director changes and has an Heiress with no interest in the actual business calling the shots. Its common knowledge I was a fan of Andrew Buckley. That is what is needed, a director with operational experience.

I'm already surprised that LC hasn't blown this company up, with dumb decisions. Unfortunately, I also think it's one of the cheapest companies on the ASX. Imagine if all of the money that has been returned to shareholders through buybacks and capital returns was used to buy businesses on an IRR of 20% or even 15%