Director share ownership
It used to also bother me that very few Directors plunk down on shares of what they "direct". The thing to remember is that very few directors are professional investors who have spent a lifetime analysing investments, the economy, and heaven forbid, actually managing their own money. Most have spent every waking hour toiling in corporate HQs and have financial advisors at big banks handling their wealth for them and the last thing most financial advisors are gonna do is get them betting on specific stocks.
The problem arises when the company actually has to invest (as IFP now does) but has no one with any passion or expertise in investing on the board, and no conviction or vision about the investment thesis of the company, and no stomach for risk.
All I can say to our non-investor board is this: IFP should be buying back as many shares as it can, as fast as it can at these levels, including a big issuer bid, and buying out US mills at these levels.