know when to fold em?, page-4

Keith, whilst Comms certainly is of concern to most shareholders I really think that the imminent departure of Bruce Higgins from an executive position in the RDF group is the primary reason we now have a crumbling shareprice and shareholders voting with their feet.

The two independent directors, Cooper and Debernardi, did a tremendous job in 2002 in rescuing Redflex from the knackery. Firstly with their own funds, then by obtaining the NAB facility, and then cleaning out dreadful no hopers from the board. However that was then, it is now, in corporate terms, light years away from the present position where the board now needs a much different set of skills.

Since 2002 there have been some very bad board decisions in the corporate area such as the options debacle and the decision to keep Comms and G Davie.
In these years Bruce Higgins, single handedly at first, on the operations side built the Traffic division into a powerhouse. It appears that his decision to return to Melbourne for family reasons was a genuine one but a lot of shareholders, me included, are at a loss as to why the board did not renew his contract and appears to no longer want him on the executive team.

The photo enforcement industry world wide now presents tremendous opportunities. In view of his tremendous success in building a team and a great business in the US there's no reason why he could not repeat this success in many other countries and at the same time keep a guiding hand on the US business. His desire to spend a fair bit of time with his family in Melbourne would be fine if he was based in Melbourne, IMO he would be ideally suited to be CEO of the holding company.

The board's inability to work with him seems to be more an indication of politics and a weak board than anything else. There is no one on the board who has the qualifications, ability or international experience to even match Bruce Higgins, he seems to be too much for them to handle so the easy way out is to get rid of him much the same as the easy way out was to keep Comms.
Much to the detriment of all RDF shareholders.