Thursday, November 27, 2008

Bank of Montreal Wimps Out!

Bank of Montreal (BMO) released Q4 and year end financial results. They clearly had a difficult year and are probably glad it’s over. Now that everyone is dealing with financial insanity it’s nice to be part of the peer group. They did admit that they missed four out of five financial objectives and then proceeded to wimp out and claim they will not be publicly announcing financial objectives. They made it clear that they have rigorous internal objectives and hold their own people accountable. That’s really nice. But how does the shareholder hold the board and senior management accountable.