The retail analysts at Deutsche Bank did not have to weigh up the threat of Amazon or monitor what shoppers are putting in their baskets before sticking to their recommendation that Woolworths future is looking bright.

They looked instead at what the Woolworths board members were putting in their shopping baskets.

And with Woolworths shares in the doldrums over the last month - despite reporting its best sales result in years - the analysts noted that half the Woolies board used the opportunity to stock up on the retailer's shares.

It noted that four of the eight directors bought shares, and "while these are not huge sums of money, they are not trivial either, with these board members almost doubling their holdings on average."

The leader of the pack was Woolies chairman Gordon Cairns, who spent $180,000 this month to lift his stake by 50 per cent.

Former Best & Less boss, Holly Kramer, doubled her stake earlier this month, while Siobhan McKenna - who runs Lachlan Murdoch's private media business Illyria - tripled her shareholding.

Directors are not allowed to buy or sell shares while in the possession of market-sensitive information, but their close scrutiny of a company can often give them a canny insight into how the business is faring.

McKenna is a prime example. She was on the Ten Network board for nearly five years - representing the substantial shareholdings of Murdoch and James Packer.

She never acquired a single share on her own behalf, which proved fortuitous. Her tenure coincided with one of the most disastrous share market performances of the decade by Ten.

Deutsche noted that the Woolies stock slump may reflect investor concerns about how it much it is costing the grocer to lift its sales so strongly. The board might know different.

"One would assume that Woolworths' directors are well aware of the competitive environment and would be better informed than most on the quantum and impact of investments," said Deutsche.

"While there are certainly examples of insider buying ahead of weak stock performance, the recent director stock purchases leave us more comfortable that Woolworths' sales momentum can continue and margins can expand."

Weiss guys

Ardent Leisure is providing a good case for changing its name to Main Event - it is certainly never far from the headlines.

The company revealed on Wednesday just how much it is getting squeezed by veteran corporate raider, Gary Weiss, and Queensland rich lister and property developer Kevin Seymour.

The duo have advised the company they hold just under 8 per cent of the stock and want two board seats.

"The Ardent board has not formed a view with respect to this request," said a cool Ardent.

Given its main gig will be US-based bowling alleys in the future, Ardent said that it would be appropriate to consider appointing one or two US-based directors. Hint, hint.

Ardent has already made concessions to the agitators who first made their presence felt in March.

Chief executive, Deborah Thomas, is being sidelined to make way for former Nine Entertainment executive, Simon Kelly.

The company also announced that a strategic review is underway which could lead to the re-zoning and redevelopment of its prime Gold Coast real estate which is home to its theme park business.

Did we mention that Seymour is a very rich property developer?

Tinkledown

The corporate regulator has banned Nathan Tinkler from managing companies for three years nine months "for multiple serious failures" in his duty as a director of companies that include his thoroughbred racing empire and A League football club, the Newcastle Jets.

The ASIC statement said Tinkler - who is now bankrupt - and two of his associates Donna Dennis and Troy Palmer, were banned as a result of information contained in reports provided by the liquidators of the failed companies associated with the former billionaire.

"The disqualifications imposed on these directors should highlight the consequences that can follow when companies are poorly managed. ASIC will seek to hold company directors accountable if they systemically fail to discharge their obligations when managing companies," said ASIC commissioner John Price.

According to ASIC, the trio failed to "prevent the companies from trading while insolvent" failed to ensure these companies paid their taxes and "allowed one of the companies to deliberately operate at a loss".

Creditors who are owed around $544 million from the collapse of various companies associated with Tinkler would probably love to know the name of that company.

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