This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Orbit International Names Wayne G. Cadwallader To Its Board Of Directors

Orbit International Corp. (NASDAQ:ORBT) today announced that Wayne G. Cadwallader has joined its Board of Directors. Mr. Cadwallader is expected to serve as a member of Orbit’s Compensation and Nominating and Corporate Governance Committees. Orbit’s Board of Directors is now comprised of 6 members, 5 of whom are independent.

Mr. Cadwallader, 56, brings more than ten years of investment experience to Orbit’s Board. He is currently Managing Partner-Research with Elkhorn Partners Limited Partnership (Elkhorn Partners), an investment fund focused on companies in a variety of industries. Elkhorn Partners beneficially owns 909,350 shares, or 19.6%, of Orbit’s common stock.

From October 2000 to June 2012, Mr. Cadwallader served as a Senior Investment Analyst for Hamblin Watsa Investment Counsel Ltd. (a subsidiary of Fairfax Financial Ltd.), where as part of the investment team, he was involved in helping manage Fairfax Financial’s $22.0 billion in assets. Mr. Cadwallader’s previous experience includes management positions for CIBC, a Canadian bank, and he began his career at Xerox holding various positions in information technology.

Mr. Cadwallader also serves on the Board of COMARCO, INC., a designer, developer and distributor of mobile power products in North America, Europe and the Asia-Pacific. He earned his Business Administration Certificate from Ryerson University, in Toronto, Canada.

Mitchell Binder, President and CEO of Orbit International, added, “We are pleased to welcome Wayne to our Board of Directors. Through his affiliation with Elkhorn Partners, we have gained a deep respect for his analytical skills and suggestions for improving our business. Wayne’s extensive experience makes him an excellent choice as a Board member. We believe that he will play an integral role in helping us execute our business objectives and grow our Company organically and through acquisitions.”

Mr. Cadwallader added, “I am delighted to be given the opportunity to join Orbit’s Board. I look forward to working with the management team and my fellow Board members to advance Orbit’s business initiatives and enhance shareholder value.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs