backpeddling

Seems to me that the court action by NS is starting to apply some serious pressure to the management. I interpret this as the second step in the management attempting to placate NS (the first step being pushing MF into a non-executive roll ... which is a bit of a joke if he is being paid the same wage as he was before). I suspect, however, that NS will not accept this and will press home their legal advantage. Interesting that the management have voluntarily surrendered their performance rights given they claimed that their legal opinion in 2007 was that they could exercise them … Goes to show that if you need to get a legal opinion for anything then even if it is 'legal' it will be ethically questionable.

Sorry to say it, but I think that we need a management enema … clean the crap out and start afresh. These belated attempts to re-establish investor confidence are being done in such an inexplicably stupid manner that all it is doing is upsetting people further. I would have once thought that this would have been a deliberate plan by the management for some reason so deep that I couldn’t fathom it … however I now believe that the management really know nothing about investor relations.

We’ll see sub-10’s tomorrow I think unless the management have something more to offer us in the way of news.