Did the 12 month goals have timetables? Were they specific goals or a generalization without any details? How were they to be evaluated? Who was the responsibility assigned to?

A goal without responsibility and timeframe is more like we would like achieve something as opposed to how we will be evaluated during this time period based on the conditions we have set forth for the company.

Was this a real plan or was it to satisfy the shareholders who attended the meeting?

Most businesses develop short term plans, but they include details, timetables, responsilbilities and performance evaluation to determine salary, bonuses, etc. Without the elements within the plan, you have no plan.

Fred wouldn't even have to show the details, but should be required to answer if the plan contains the appropriate detail for evaluatuion.