What are the directors doing?

Are the directors of this company asleep at the wheel?  Losses just keep mounting up, in spite of them dressing it up as "non cash losses", ie write offs.  They are stuck with a stable of companies that nobody else would bother touching (needles and model cars?  For heavens sake!).  Blind Freddy can find profitable private companies in this market, yet these clowns sit on their hands hoping the current investments will come good!

Buffets rules (culled down) on good investments need to be applied:

1. Never lose money
2. Never forget Rule #1
3. Buy companies not effected by change
4. Buy businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.'
5. Buy businesses that nobody can easily replicate
6. Buy businesses with a natural monopoly

HNG's stable of businesses break just about every one of these rules, and management wonders why their own business is going down the gurgler!

Its time to renew the Board!