autolac, page-7

Well said Tom.

We have heard many times before how important Directors are and how they work their butts off. People seem to defend these guys as if they are some sought of commercial messiah. What real difference do directors make?

The inference that was made by Bellaboo is that Malone & Easter alone will turn this ship around. How about every other poor sod who are working their butt's of to keep their job and to keep their families. These people contribute to the success of the company as well, not just the directors.

Unless mistaken, Directors like any other employee of a company are supposed to be working for the interest of the shareholders. Not themselves, not the creditors, not the Government but the shareholders. I get real concerned when the term "the interest of stakeholders" enters the lexicon of company objectives and is used to define the company's survival cry.

It is a sure sign that the shareholders are about to get screwed.

As for hard working - was it a director that squandered $7m in a suspect commercial arrangement, suffered virtually no consequences, (apart from resigning) and sent the company broke, or was it his underlings? We all know the answer.

Which group of people purchased dud companies and then had to write them off, was it the sales managers, admin offices, stores people, no it was the board of directors. All knowing snake oil sales people who conned the shareholders. Who got screwed, the shareholder of course.

Is it the hard working directors who are in the trenches every day, competing with the opposition or is it the hardworking sales guys, operational staff and administrators. We all know the answer.

Directors have an important role to play in the stewardship if the company but lets keep their role in context and not place these people on some sought of pedestal of public importance - after all they are only an overhead.