There is a lot of hoopla about Mark Ravich, elected as a single board member, depending on your point of view that he is either going to cause delays, etc. etc., or if you are of the other persuasion that he is going to save the day. Truth of the matter the company will be run no different if Mr. Ravich is on the board or not for the next year, and I expect that Mr. Ravich will conduct himself accordingly as a professional knowing this. This is just a warning shot to management that if they don't get their affairs in order before next year shareholders will vote in new BOD's and the shareholders will begin the process of unseating the current BOD and possibly management. I think this warning shot is critical to send, even though nothing will change for the next year no matter which way this goes.
I think there is common agreement that the compensation package is going nowhere and that the compensation package should be reviewed annually, not every three years as management recommends. My thoughts are that as shareholders, if we don't start sending warning shots, what will the compensation packages be that they suggest when the company starts making real money. It is critical that our voice be heard now. From my experience it is pretty difficult to get a low rating from the ISS, however RC and current management has succeeded in doing so.
I commend RC and his ability to get Triferic through the FDA on what I would call the cheap, however you need to monetize it before beginning to take the excessive compensation that he has taken. He came to the public markets to access funds to ensure the lottery ticket that he had could be cashed, I'm sorry but the public market needs to share in that reward, it is no longer a private company.
Is the purpose of this upcoming important vote to punish or to vote for someone who can step right in with knowledge of this industry and make a difference? I have struggled with this vote. In fact last night I used the white proxy vote and went online and changed my vote to the request of Rockwell.
This was a difficult vote for me as a long term shareholder -- 16 years. Rockwell has taken an idea all of the way to FDA approval -- Triferic. A very difficult task. I look at all of the government hurdles Rockwell has successfully jumped over the past several years and I say what is the purpose of changing?? Yes, Rockwell needs to improve its public relations. However, I feel we are close to a decision on transitional add-on. So the bottom line is are we here to punish, which in turn could slow the entire process even more? OR are we here to make decisions that move the company forward.
Rockwell may be learning a lesson to be more transparent. I am betting that this will be the case.
To appoint Ravich to the board probably will create a lot of animosity and slow the process even more. Therefore, I am voting on Rockwell's behalf but they need to step up their game which includes being more transparent!!
Lee, respectfully, directors disagree in board rooms every day. That's not necessarily a bad thing. Nothing wrong with different points of view. As for your rumors, they are what they are. Gl
Respecting every shareholders right to vote their conscience, I don't criticize any. At the same time I will add my thoughts. In a very recent post it was said that " I struggled with my decision ", . I did also. At the same time I recognize that the struggle was not my choice, others were the cause of the struggle. For whatever reason it is hard for this company to be honest and transparent. The confusion continues. To me the board does not operate as a company should for a company that is about to grow at a tremendous speed. More, they are a rubber stamp, not much more. The board is supposed to be the managers boss. They set policy and give direction. They do not carry the day to day business of the company. They are the only ones that have the power to fire, or approve the hire of a new manager. When I get a letter from Rob telling me who to vote for to be his boss it bothers me a bit. When I read why I need to vote for his candidate because they will get us to CMS approval or negotiate or launch or market or manage or oversee, I have to ask myself is this a board member or a new employee. I was thinking most of these things the new board member will bring to the table were already done, I mean we are on the cusp aren't we? If TAO is imminent,it will happen with any new board or no board at all. Rob says that RB, if successful, will wage a war next year to take over the company. At the same time he says they don't own as many shares as they claim, maybe 1 %. That doesn't sound very threatening to me. If we are on the cusp and share price doubles or triples or more the cost to takeover becomes much harder. Cheap is vulnerable. RMTI could be on the cusp, there is a chance that we move from a small cap to a player in the big leagues. If that's the case my preference is to have a board that runs as a board should not a good old boy system that we now have. Domzalski doesn't impress me especially. Ravich doesn't really impress me either but for me it's a start. Rob has done a great job from start to now, but going forward I don't know. The past few years it seems that he has shut down the info flow to all and been successful in getting himself some healthy options. In my opinion we need a new board and possibly we need a new Chief. Nothing personal just good business. Good luck all
Now if we think we are divided on this board can you imagine what it will be on the BOD with one member obstructing and objecting trying to slow the progress and turn it toward another direction. Think about it ..it will not be a voice of reason just one of decent. BTW there is a rumor floating in our area among investors who own Rockwell that one of RB biggest ( owns a really large block of stock with RB ) is voting against Mr. Ravich . They apparently have met him personally and thinks he is the wrong candidate for the BOD he would have voted another candidate and objected to RB nomination of him. So you can see even among their own clients Mr. Ravich can not garner the support of a investor who has been with Rockwell in the 1 and 2 PPS. If Mr. Ravich can not bring him in the fold and he has already voted against him , RB loses a larger percentage of their block and possibly this investor moving to a new firm. It is a rumor and I do not usual share rumors , yet it struck me as odd that RB and Mr. Ravich could not gain this investors confidence / support and shows cracks /opposition with in their own voting block which specks volumes to me about Mr. Ravich.
Can't believe what is going on here! Previously quite sane and rational contributors are getting the shakes and shivers at the thought of change and controversy coming to the board room? When will you say enough is enough...6 months from now, a year from now, two years?? The horizon of promised profits and share value has gone further and further out with each quarterly "report" and some are afraid to rock the boat for fear of stopping "progress." What progress...no sales, no profits, share price in the toilet, Rob and the BOD seeking to reward themselves regardless of what has been done to shareholders. This is "progress"? Give me a @#$%! break!! With "progress" like this I and a lot of others will be left exactly where the Great Admiral has predicted we would be all along. Enough ALREADY!!
Glass Lewis endorses Ravich...leading proxy advisor Glass Lewis has joined ISS in endorsing Ravich for the board and voting down board recommendations on compensation. Their key finding: "In short, we consider Rockwell's history of poor returns is an open and shut case, even when affording the board the benefit of its preferred and heretofore absentee benchmark.”
Rockwell is wasting much of shareholders money on this proxy fights, RC must be concerned. How many times are they going to send out the same voting form??? Stop already! You gave the middle finger to the shareholders of the company and now some are returning the favor! You got greedy with tons of options given to yourself and diluted our investments, you lost credibility. I voted blue and will not change it regardless of any news between now and June 1 or the share price. What goes around comes around. In my opinion to have ONE outside director will be a good thing.
Voting blue because you don't like the way things have gone is just plain ignorant. If you want to vote blue because you think Ravich brings something to the table, then fine. The problem there is that he brings nothing beneficial to the table. Anyone not aware of what Ravich is attempting to do is not paying attention. His appointment to the board would be more harm than good. Your decisions are your own, but don't be stubborn and ignorant just because your investment didn't pay out as fast as you hoped. Greed causes a lot of bad decisions.
Latest Letter to Shareholders 5/22 Dear CEO of Rockwell, - You have no experience in launching products - You have a very poor record of performance, No C - 3+ years, No T - 2+ years - Your poor reputation cannot attract new investors - You collect a very large salary, stock and options for NON-PERFORMANCE IT'S IMPORTANT FOR SHAREHOLDERS TO KNOW: YOU are a terrible leader!
Just a question ? I know that most are here for Triferic, but my question is about Calsitriol. I could find my answer but some might know without to much research. Back when Calsitriol was launched I believe that management made the decision to build inventory before they took orders. They were afraid that the demand would be great and they would not be able to keep up. Then everything fell apart and we're back to now. So when we get back on track with FDA and a contract manufacturer or two, is Rob going to say that we won't take orders until we have adequate inventory? Has he addressed this ? I do know on the Triferic side he said we have plenty of inventory. Thanks in advance.
If I was a current investor here, and the accusation of Rockwell against Ravich is true, about making money from shorting the stock, I would be #$%$ off. They are trying to steal from my kid's future. Shame on these hedge fund guys.
Whether you vote blue or white for the director, I can't imagine voting for the compensation plan this year. Not until the shareholder value has become "realized" versus this "unrealized" state we've been in.
What I don't get is why is management protesting so hard over the election of a single director. Why all the vitriol. Both sides have really taken the gloves off. It's a little distressing as an example of where civil discourse is headed today. Soon they will be calling each other "Poopy Heads".
If you say they reason management is fighting so hard is that next year Richmond will come back and try to gen another investor and within 3 years attempt to gain control of the company.... Between now and then all Ravitch could really do is voice his opinion and vote his conscious, but it will have little practical effect.
My response would be that if both of our fabulous drugs are on the market and printing money, there is little chance that a revolution by proxy will ever happen.
Conversely, I would also say that if our two fabulous drugs are not on the market within 24 months from now it would be a good idea to switch horses.
Back to why does management fight so hard to prevent the addition of an "Outsider" that isn't hand picked by an insider?
Maybe they know something about the timing of these rollouts that we don't know?
I the words of the Bard...."The lady doth protest too much, methinks"
What do you think?
Man oh man. Between 2 account I received 2 Blue proxy Saturday and 1 white. Today between the 2 accounts a I received 3 more all white.
This CEO and company never paid so much attention to shareholders before. There's an old saying a friend in need is a friend indeed. They needed shareholders when they went public for their money. They want shareholders now to make sure they keep taking more of their money through great compensation. I wonder how much this white vote campaign is costing us?
Moosedawg I no longer have any options nor any shares
I still listen to all the conference calls and more importantly I read the transcripts
In the last conference call, did Mr Chioni state that pass through reimbursement was denied for Triferic in early 2016?
If so, why was this not disclosed last year and why will CMS approve it now?
No wonder an activist investor was a seat on the board
I still believe that Triferic is a great drug but it is difficult to have a lot of faith in current mgmt
We must ask ourselves this question: WHY RC IS FIGHTING SO HARD TO HAVE ONE OUTSIDE DIRECTOR?????? I don't believe he is concerned about Mr. Ravich being on the board, HE JUST DOES NOT WANT AN OUTSIDE DIRECTOR!! Then ask yourself why and answer the question honestly!! " Those who have nothing to hide hide nothing"!! RC is greedy and wants to run the company like a privately held company and still wants shareholders money!! I believe we will be better served with ONE outside director on the board and respect those who don't think the same way too.
This seems like a lose lose scenario, if Ravich wins, according to some, shareholders are going to be thrown under the bus. yet others if Rob gets his guy in, we get more of the same. in other words will there be any effect on the share price?
Compensation Information for Robert L. Chioini , Chairman, President and Chief Executive Officer of ROCKWELL MEDICAL, INC. | Salary.com
Salary, bonuses, stock options, stock awards and other compensation for Robert L. Chioini , Chairman, President and Chief Executive Officer at ROCKWELL MEDICAL, INC.. How much did Robert L. Chioini make as Chairman, President and Chief Executive Off
PUMPERS, your problem is that you simply refuse to accept the real reason Triferic won't sell. IT WON'T SELL simply because DaVITA and FRESENIUS both know it does NOT do what it has been hyped to do. YOU GUYS HAVE BEEN HAD.