Analyzing further my previous comment, a reasonable person could have the mindset to say that RFIL has really not had a majority of truly independent directors on its board in the past few years. That would mean they were in violation of Nasdaq listing rules as well and could be grounds for de-listing. Riddle me this my friends, how on God's green Earth can two directors having a huge holding in RFIL shares, (e.g. Sandberg and Waterfield) have been ever truly independent in fact or appearance? I'm at a loss myself.
I didn't go to an Ivy League on Daddy's dime, (thank God for that), nor did I need to do so in order to see the highly flawed mindset of Sandberg. Hill was never independent nor is Clark as both are officer/employees so that just leaves the highly questionable Teledyne old farts Finky and Reynolds to be the independent members of RFIL!?! I don't think that passes the smell test boys and girls or the NASDAQ listing rules. Some smarty pants out there just may want to look into that further.
What say you you saavy educated intelligent investors?
Your obsession with independence of directors is absurd. Independent or not, it is what the business does and how it grows that matters. The Board you object to made the Cables Unlimited acquisition and has dramatically grown the Company. What do you want, anyway, the appearance of independence or a good return on your investment? Neither Reynolds or Fink are in any way dependent on RFIL and there have been many past Board members who were independent. This is a non-issue, as NASDAQ's determination of independence is not the same as YOUR personal determination . Public companies meet the rules, as defined by NASDAQ, the SEC and the Accounting profession. RFI has legal counsel and accounting advice to keep them in compliance. Your personal opinion is simply not relevant.
First I think you should get some sleep. This is one issue at high level I agree with you on"independent" directors as where were they when I lost my shirt with AIG and Citi 7 yrs ago ? That is why we are all told we really should not invest in single stocks as too many bad things can happen. RFIL's board is like any other board and why people like carl Ican always ask for board seats during his strong arming of companies. That being said I don't see anything wrong with rf board. If you think the company has serious SEC issues, then write to the SEC and see what they say. Complaining to the 10 of us on the board is not effective.. This is one of the few companies I made money on in my life so not complaining and I know nothing more than what is public and not in business , I am jsut patient and wait . That did not work out in other stocks like Corning and AIG though.