Ann: AEL's Increased 42 cent offer for Adelph, page-36

re: Ann: AEL's Increased 42 cent offer fo... This behaviour by the ADI board is fairly typical of what goes on in corporate Australia.
I quote from The Australian today who quoted the late Ken Talbot:

"I see a greedy culture coming back in and I don't think it's justified. A lot of companies - and mining companies especially - are risk-averse. You've got chief executives in there who are patting themselves on the back and giving themselves big bonuses because they can point to a better return than last year. But they're all short term decisions. They're not looking far enough ahead. There's a terrible culture of greed. Who's the chief executive working for? Himself or the shareholders? ...I get annoyed when I see these chief executives paying themselves big bonuses for not doing anything other than ride the market."

This decision by the ADI Board is an absolute disgrace. To value the company at a price north of 60c yet weeks later accept circa 33% less is deplorable. Just wait and see if any of this mob end up with sweetheart jobs with AEL.