No good news story

The Annual Meeting presentations show a disappointing position and outlook.
The Presentation by the MD shows that "the market" attributes no value to the non cash assets of the Company. In my view that is a very poor reflection on the Board and the Senior Management. "the Market" has no confidence in the Board.
Secondly, the shareholders are now becoming "active" in their opposition to the Board and the senior management.
The data shown on the number of votes cast on the poll illustrates that enchantment. Over 50,000,000 votes against the remuneration report ; the same sort of numbers against the ESOPs to senior executives and lastly some 30,000,000 votes against the re-election of Director Atkins.
Finally, The Chairperson reported that some 20% of KAR employees had been dismissed. That level of reduction in staff expenses seem to have been offset by a corresponding increase in payments to remaining employees and contractors etc.