While the shareholders and board of directors at at Whole Foods Market (NASDAQ: WFMI) wish CEO John Mackey would pipe down, and the board at Overstock.com (NASDAQ: OSTK), if it exists, seems indifferent to CEO Patrick Byrne's Regulation FD-flouting rants, Herb Greenberg has a nice WSJ column (subscription required) on executives who take a different approach. To borrow a line from Calvin Coolidge, these companies have decided that nothing they don't say will do them any harm.
The piece talks about a few thinly traded, closely held companies, several of which list their shares on the OTC markets, which tend to be highly illiquid and provide little exposure. These companies don't hold regular conference calls and don't present at investor conferences, but some have actually provided investors with very strong returns.
The highlight of the column is a company called Expeditors International (NASDAQ: EXPD), a transportation and logistics business. Expediters responds to shareholder inquires by filing 8-Ks with the SEC providing pithy, and often bitchy, responses to questions. The latest series is one of the strangest 8-Ks I have ever seen.
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