Good post carrabuh - something that seems to be sadly lacking over the last few weeks/months!!!!!
To be fair to the board, while Lambert was here, winning games, gaining consecutive promotions, they didn't have a great deal to do - or worry about, apart from ridding the club of the burden of external debt. Matters on the pitch pretty much took care of themselves

Once he'd decided to leave, the board were of course called into action. With hindsight, they chose the wrong guy to succeed Lambert - although nobody knew that at the time, sanctioned the club's biggest ever transfer spend, and best will in the world, neither RvW nor Hooper got anywhere near justifying their price tags, dithered over removing Hughton until things were pretty much irretrievable and then made a fairly unpopular decision to promote a rookie manager from within the clubs ranks.
So when called on to make crucial decisions, it seems unfortunately they've not shown the nous many were giving them credit for.
Sorry if this sounds harsh - I'd far rather have McNally batting for us than against us, but to all intents, if you were to take away the (ridiculously high, imho) parachute payments, we're back exactly where we were in 2010 in a footballing sense, though much more secure financially. But on the back of a recent relegation, whereas in 2010, we (and the board) were riding on the crest of a promotion wave.
It does make you wonder whether they have learned a great deal in the last 3 / 4 years.
