"all these guys with their constant "Replacing the BoD" simply don't get it" how, what ,why, where, etc etc

Ok - I've heard this one a few times now, and I'll try to answer as best I can. Obviously I can only speak for own opinion, but here goes...

I think it was Einstein (could be wrong though) that said insanity results from trying to get a different outcome using the same methods. Ever since the company stopped actually making things, the overarching business strategy has not changed in any significant manner. Whilst the generation of income has proven reasonably sucessful, the method of generating it does not involve our esteemed amigos in the least. This would have happened, and will continue to happen, whether they are awake or asleep or comatose. It is not a difficult job to cash a cheque.

The BOD use of this money, however, has been absolutely dreadful (at best). Money has been given away (dividends on warrants), gambled away (ARS debacle), squandered away (BOD compensation, various debt-ridden shell companies), and otherwise dispersed with little regard to shareholder value (my own bugbear - the huge and opaque expenses charged to PDS by TPL).

My own opinion here is that no matter how much money these people are given, they have proven themselves on multiple occasions to be completely incapable of using it to the benefit of the common shareholder. The PPS is simply an external sign of the shambles this company is in. I ask again - at what point do we stop trying to get a different outcome using the same methods ?

To me, it does not matter who replaces them, how they are replaced, who is responsible for their replacement or who is qualified to replace them. It only matters that they are replaced. It only matters that they are seemingly replaced in response to the actions taken by shareholders to defend their investments.

Can you imagine - a board that answers to it's shareholders..? Gasp shock, whodathunkit etc etc,. Who knows, if the next lot don't perform well enough on our behalf, we might even do it again...

do we really have to lose everything before we are free to do anything ?

My own thoughts...