Did anyone read the excellent expose of company directors by Michael Sainsbury in The Australian 27-Dec-08? I didn't know whether to laugh or cry. There is a large group of directors, "the directors club", whose members keep being selected for directorships despite the appearance of incompetence. In the industry apparently they are called the "unflushables". Read all about it here, essential reading for all investors:
Can something not be done to improve this miserable situation?