A shareholder group including Dru A. Schmitt wants Sunair to be sold, with net proceeds distributed to shareholders. The group says that it is considering options, including replacing the board with people who are "not self-interested or not willing to overlook the track record of Richard Rochon, Sunair's chairman, and his associates." The group owns about 5.2 million shares (37% of the total outstanding).

Palo Alto Investors wants Greg Noval to resign from the SNG board due to various conflicts Palo Alto believes exist because Noval serves as executive chairman of the company and as chairman of Challenger Energy, a vehicle formed to secure financing for the company's Block 5(C), offshore natural-gas project near Trinidad. Palo Alto wants remaining directors to "pursue the creation and maximization of shareholder value for the company free from conflict." Palo Alto holds about 16 million shares (10.1%).

Wynnefield Partners Small Cap Value wants White Electronic to "take proactive steps" to communicate to shareholders the specifics of Wynnefield's review of strategic alternatives. Wynnefield wants specifics about White's strategic options, including the names of the directors on the strategic review committee; the mandate and responsibilities of the committee; and the identity of any financial advisers assisting the committee. Wynnefield holds about 1.28 million shares (5.7%).

American International Group (AIG) said that it's exploring the potential disposition of its interest in Transatlantic Holdings. Transatlantic formed a special committee consisting of directors independent of AIG to consider strategic alternatives, as well as any potential merger, third-party tender offer or other business combination. AIG holds 39,093,491 shares (59%).

Trinad Capital Master Fund demanded the resignation of four directors from the six-member board and replacement with its own slate of directors. The resignations demanded: Michael Fleming, Barry Bergsman, Gary Arlen and Robert Clasen. The replacements for consideration: Robert S. Ellin, Jay Wolf, Bruce Stein and Ian Aaron. Trinad said that if the resignations do not occur, it will take legal action. Trinad owns 6,741,127 shares (12.11%).

Billionaire George Soros' hedge fund reported holding 7,500,000 Class A common shares (20.15%); no details were provided. The shares held by Soros Fund Management include warrants.

Riley Investment Management wants GSI to start "a stock buyback as expeditiously as possible." Riley believes that "long-term shareholder value would be best enhanced through share purchases," given GSI's low valuation and minimal capital-expenditure needs. Riley reported ownership of 1,399,962 shares (5%), after buying 315,771 from Aug. 1 to Sept. 23 at prices ranging from $3.41 to $3.97.

Fund manager Jasmine Holdco raised its stake to 1,967,464 shares (14.17%), 13.99% more than it reported owning on Sept. 27.