Obrem Capital Management plans to nominate six directors for election to Micrel's board at the company's 2008 annual meeting. Obrem identified its nominees as Keith R. Gollust, Keith M. Kolerus, Bill R. Bradford, Andrew V. Rechtschaffen, Eric W. Gomberg and Benjamin J. Goren. Obrem may communicate with members of Micrel's management, board, other current or prospective shareholders, industry analysts, or existing or potential strategic partners. Obrem currently holds 10,735,690 shares (15% of the total outstanding).

Investor Seymour Holtzman is withdrawing his nominees for election to the board at the company's 2008 annual meeting. Holtzman previously had asked Lakeland to nominate him and Dennis R. Heinrich. Last week, Lakeland called upon the veteran shareholder activist to withdraw his letter of nomination and "terminate his disruptive proxy contest against the company." Holtzman said that he is seeking board representation in an effort to "maximize shareholder value." He owns 395,661 shares (7.27%).

Greenlight Capital plans to vote against a reorganization proposal for MI that was submitted by entities affiliated with Frank Stronach of the Stronach Group, its controlling shareholder. Greenlight said that its primary concern with the proposal is that the benefits received by Stronach are so "inequitable" that the reorganization is "patently unfair to the MI shareholders." Greenlight previously submitted a shareholder proposal asking MI shareholders to vote to have the board implement the value-enhancing proposals which the board itself developed and adopted unanimously in May 2005. They called for steadily increasing MI's financial leverage, regularly increasing dividends, repurchasing shares and rationalizing the company's relationship with Magna Entertainment (MECA). "To date, the board resolutions have not been implemented, despite the three years that have elapsed since the company's board adopted them," Greenlight said. Greenlight owns 4,975,000 shares (10.8%).

The hedge fund SRM Global Master Fund raised its stake to 47.2 million shares (8.13%), from the 31.7 million (5.48%) it reported owning in January.

Mario Gabelli's Gamco Investors (GBL) sent a letter to Fisher Communications reinforcing its observation that cash flow should be used to repurchase shares. Gamco has said that it intends to withhold its vote for Fisher's four director nominees at the 2008 annual meeting. Gamco will read its comments at the meeting, scheduled for April 30. Gamco Investors has boosted its stake to 1,593,497 shares (18.26%) from 1,563,397 (17.91%) reported on April 4.

Hall Phoenix/Inwood Limited cut its stake in AMR (parent of American Airlines) to 9.9 million shares (3.9%), from the 12.4 million (7.68%) it reported holding in 2005.