Miso, That’s a very good article echoing the thoughts of most...

Miso, That’s a very good article echoing the thoughts of most old timers here on HC. However the stark truth is the day after this article, on 19 December John Grant and Peter Cook’s mates on the board announced to the ASX that they had showered Peter Cook with LTIOs complete with the stealth shares buyback.

John Grant is the chairman of the BTA board that welcomed Peter Cook to BTA despite Peter’s sterling performance as the CEO of Orbital Engine where the sp dropped from around 70 cents to 10 cents. It is a truly remarkable performance in a booming equity market. Especially when OEC has the technology to make combustion engines leaner and meaner. Oil price was heading skywards and the World was concerned with global warming.

The company has very promising products in the pipeline. But so is Relenza which is way superior to Tamiflu. And the GSK law suit was almost money in the bank as proven by GSK’s $100m settlement offer. It is truly an awful board misdirecting a proven incompetent CEO. With these bumbling fools at the helm, their record for wealth creation will not change. BTA shareholders wealth has an inverse relationship to executive remunerations. As shareholders wealth plunges, the BTA board increases executive remunerations.