Donaco Debacle

I'm not currently a shareholder but have followed this name for a while. I'm still unsure if its worth my while given management issues? Just a few comments for discussion;
- This company seems to lurch from one crisis to the next, why haven't some of the larger independent shareholders spoken up. If we look at the last couple of years the protest votes from big institutional investors looks to have been very low (albeit they did rise this year). Perpetual has been sitting at 15% for a long time surely they can't be happy - if they wanted to lodge a protest vote they could have voted down the remuneration plan themselves. Also I suspect newly minted substantial shareholders Fidelity can't be happy - they look to have taken the stock off of Joey right before a downgrade. They are both big enough that they will find it very difficult to get out hence need to push for some visible change one would think? Or are they just like most institutional shareholders and unwilling to rock the boat?
- With the Thai vendors now off the board who is providing checks and balances to Joey. Questionable if he is up to the job? Also who on the board has adequate gaming experience in the Asia region?
- Surely the failure to report the low VIP hold rate at Aristo at the market update when Joey was selling stock is a material omission?
- Seems like the buy back progress has been very slow. Another indication that management doesn't know what they are doing. Clearly sellers about, if they believe the story then great opportunity to be buying back the stock below 40c. Could they potentially have been waiting for the poor trading update at the AGM knowing the stock would come under pressure?
- The feud with the Thai vendor worries me (obviously). They have now started legal proceedings against the Thai vendor which can't be a positive. I was under the impression that the Star Vegas land is still leased from the Thai vendor?