I agree, the board have now made the right decison and I am glad they have had the foresight to take notice and make a good decision. I believe the original decision was poorly thought out, poorly structured and poorly timed but I applaude the board for having the guts to rectify it.
Also, for the record, an incentive scheme is required and I am happy to go along with it. The Directors do need to have skin in the game but, as i have mentioned, it needs to be at a reasonable rate and not just a staright out freebie. I believe in reward for good results not just for the sake of it.
So, an incentive plan with staggered oppies that rewards them for good results is the way to go and i will support that.
I am also not beyond an incentive paln for the non-execs but we gotta be real here. They only get paid $32,000 a year because they dont have to do a lot. If they were wroking a lot, then they would command a higher salary. So, why propose to give them so much.
Keep it reasonable and real and us long suffering shareholders are far more likley to play along.
Credit is due for today's announcement though and I am happy to give it when its due !!
PDY Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held
