"Now that you've stated your opinion of biajj's clairvoyant abilities, as you have every right to do, I'd be interested in your opinion of the BoD's due diligence regarding Crossflo and Friday's events."
I am not Brian, so sorry for stepping in here, but just consider the primary responsibility of the BoD:
"Protect shareholder assets and ensure a decent return on investment"
Also, in my BoD dealings at two companies, the Audit Comittee played a large role in reviewing/approving acquisitions.
So, IMO the BoD is just as responsible for this debacle as management, however, it is ALWAYS the CEO who takes the fall.
IMO..The problem we have is that management (includes the BoD) can't justify their existence by simply collecting a MMP check, so they feel compelled to buy companies, hire consultants, etc, and it has become blatantly obvious that they are not qualified to do so therefore squandering our assets and not ensuring a decent return on investment.
Just my two cents.
Good luck everyone!
