Some of the directors devote little time and are persuaded by one or two others that attempt to keep current. Historically, the issues discussed relate to the latest problems created by poor investments, litigation or management turnover.

If the majority have to be educated and make quick decisions while on the defensive, it does not allow for a broad range of perspective, particularly from the shareholder point of view.

Yes, a vocal, informed director, especially if he/she replaces an uninformed director, could make a big difference.

Because of current conditions, I feel that it is appropriate for all new and current directors to accept performance based options, instead of fees, until the share price is stable at much higher levels.

Stan