|Red Hat Linux 7.2: The Official Red Hat Linux Reference Guide|
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The file /etc/rc.d/rc.local script is run by init at boot time, after all other initialization is complete, and whenever you change runlevels. You can add additional initialization commands here. For instance, you may want to start up additional daemons or initialize a printer.
In addition, if you require serial port setup, you can create and edit /etc/rc.serial, and it will be executed automatically at boot time. This script can run a number of setserial commands to specially configure the system's serial ports. See the setserial man page for more information.