All,
A primary responsibility for the Board and Management of public companies is to increase shareholder value through the combination of capital gain in the stock value and/or profits distribution through dividend yield.
The Australian Airline Majors closing values today were VBA $0.315 cents down 17.11 percent and QAN $3.130 down 3.1 percent. Co-incidentally as the largest independent Regional REX closed at $1.02 down 4.67 percent.
Considering that DJ listed at around $2.40 per share, by any measure the Board and Management have failed spectacularly in their duty of care to shareholders and staff.
Until recent weeks DJ managerial ineptitude has been shielded latterly by the TOLL Holdings majority ownership and formerly the Patrick Corp majority ownership.
Now the 'Gloves are Off' and the market clearly does not like what it perceives as the Board and Managements Buccaneering and Cavalier approach to the business at such an unstable time.