The long suffering shareholders of FCL cop another one with AAC meeting today.
FCL has simply been one of the most apalling industrial companies in Australia.
The simple fact that the Adelaide establishment is in complete denial about is that you can sack the old management, appoint new managment gurus, swing in an establishment name of the past to hide the cr*p but the board who presided over this disaster keep sitting there collecting their fees and pretend that all will be fixed.
Nothing will fix this mob. Some of the things that occurred under this board's watch are simply dreadful and if the board members had one ounce of fibre between them they would go.
One day the truth might come out but as usual in corporate Australia it will not be those responsible who will wear it, just the shareholders whilst ASIC sleeps on the job.
A really dreadful company with zero future.
FCL Price at posting:
39.0¢ Sentiment: None Disclosure: Not Held
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