"Actually, the competency of management is a factor in stock pricing."

You are correct. But the BoD is not "management". "Management" is the CEO. The CEO formulates company actions and presents the proposed actions to the BoD for approval/disapproval. And yes, the BoD selects people to serve as CEO.

But the ire is not directed at the CEO. And people who check the credentials of our current CEO, and his actions to date, would find little to question, if anything. Perhaps I should just put it this way: I've invested in a lot of stocks over the years, and I have never, ever, even thought about looking closely at the members of the BoD before investing.

I'm pretty sick and tired of the BoD bashing, especially in light of more recent company actions/initiatives that were approved by the BoD. Unless you have real big problems with the recent communication and plans provided by the company's management/CEO, the "issues" re: the BoD should be refined down to their compensation package. But even then there must be care taken. If their compensation package is intended to be at least somewhat uniform, and we want to attract a new board member(s) of the caliber of recent additions, we must have something there to attract them. After all, the people we want aren't the type that would consider a seat on our BoD a feather in THEIR cap, but people who's addition would be a feather in OUR cap.

JMHOs,

SGE