Just returned from Chatswood CSR AGM ..a few observations:
-Board exhibited no sense of urgency with share price crash or plans to address.
-Pathetic revisions to remuneration package which require quantum changes in view of guttered SP... just fiddling at the edges.
-Future plans seemed a bit contra and motherhood eg improve existing production efficiency but develop new product innovation.
-High dollar still being blamed which we have had for some years and which is now the norm.
-Viridian Glass still bleeding because of matching (I presume chinese) prices to maintain market share.
-Complained of the damage caused by the cancellation of the pink batt scheme(old news) and new carbon tax to todays shareholders but made no public statements to the government at the time(I think).
- plant and equipment (and possibly manning levels) are ready and waiting for the next big housing starts swing in the future....good to know !
I didnt tick the management box today sorry to say.
Anyway 97% of shareholders voted by proxy for adopting the remuneration report so no regime change this time. Voices crying in the wilderness Im afraid.
Add to My Watchlist
What is My Watchlist?