Monthly Archives: July 2015

Engaged Capital Sees Value in MagnaChip Shares

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable,…

Emancipation Wants IDSY Focus on Cash Flow

The Reporting Persons acquired their shares for investment in the ordinary course of business. However, the Reporting Persons are filing this report on Schedule 13D as they expect to more actively engage the Board of Directors and management of the Issuer regarding their strategy. The Reporting Persons also expect to be speaking with other shareholders…

Emerson Radio and Miller’s List

The Shares covered by this Schedule 13D were acquired by Mr. Miller for investment purposes in the ordinary course of his business as an investor. Late filing of Annual Report. Mr. Miller believes that shareholders continue to be harmed by oversight and disclosure failings at the Company. Most recently, Emerson’s annual report on Form 10-K…

Boomerang Swaping Equity for Debt

Boomerang Systems, Inc. has commenced an offer to issue shares of its common stock and warrants in exchange for the entire balance of the 15% secured notes and warrants issued pursuant to the Loan and Security Agreement dated as of June 6, 2013 by and among the Company, Boomerang Systems, Inc., Boomerang USA Corp. and Boomerang…

SuperValue Thinking About SpinOff

SUPERVALU INC. today announced that it is exploring a separation of its Save-A-Lot business, and that as part of that process it has begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone, publicly traded company. “Save-A-Lot is a leading national hard discount retailer with over 1,300 total stores, comprised of approximately…

Canada’s Centric Health on the Block

Centric Health Corporation announced today that its Board has initiated a process to consider and evaluate strategic alternatives available to the Company following unsolicited interest in certain businesses of the Company. The Company has previously disclosed that it was exploring opportunities to maximize shareholder value which included additional divestures of existing businesses. In light of the…

Mariner Suggests Actions for RMR REI Fund

Mariner has purchased Shares for the Accounts for Investment Purposes. However, Mariner reserves the right to contact management with regard to concerns that they have with respect to the Fund. For example, Mariner has observed shares of the Fund chronically trading at discounts to NAV well in excess of the peer group and the closed-end…

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Chemours and the 10-Foot Pole

I was intrigued to see that Barrons, in this week’s edition, called Chemours “the poster child” for botched spin-offs.  For those of us who were introduced to special situations investing through Joel Greenblatt’s exemplary work “You can be a Stock Market Genius,” Chemours is in fact a classic spin that should be embraced rather than…

Einhorn-Controlled Homebuilder Expands Ops

According to Dallas Business Journal, shortly after New York hedge fund managers David Einhorn and David Loeb increased their financial stake in Green Brick Partners (Nasdaq: GRBK), the Plano-based real estate firm acquired tracts within the $900 million Heritage Creekside to put more single-family homes on the ground. Green Brick purchased 17.3 acres to develop…

Praesidium Likes What’s Going on at NX

This Amendment No. 1 is being filed to report the acquisition of Common Stock reported in Item 5(c) that resulted in a more than 1 percent change in beneficial ownership. Since the Reporting Persons’ April 13, 2015 filing of the Schedule 13D, the Reporting Persons acquired Common Stock for investment purpose. The purchases were made in the ordinary…

Qualcomm to Clean up its Act

Qualcomm Incorporated today announced it has initiated a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as the Company works to create sustainable long-term value for stockholders. The Company also announced that it has entered into an agreement with JANA Partners pursuant to which Mark McLaughlin and Tony Vinciquerra…

Obus Points to LTRE Trading at Net Cash

July 20, 2015 Dr. David C. Collins Chairman and Chief Executive Officer Learning Tree International, Inc. 1805 Library Street Reston, VA 20190 FOR IMMEDIATE DISTRIBUTION TO THE BOARD OF DIRECTORS Dear Dr. Collins, Wynnefield Capital Management, LLC, together with its affiliates (collectively, “Wynnefield”), are long-time investors and owners of five percent of the outstanding shares…

Wynnefield Reminds Telos of its Obligation

Wynnefield Capital and the other Wynnefield Reporting Persons congratulate Telos on recently receiving the go ahead from the Air Force’s NETCENTS2 Program Office to compete in both full and open and small business competition categories. Following an 18month protest delay, Telos is now ready to support government customers under the contract which is a preferred…

TIER REIT to Conduct Dutch Auction

TIER REIT, Inc., a Dallas-based real estate investment trust, announced today that it expects to list its shares of common stock on the New York Stock Exchange (NYSE) on or about July 23, 2015 under the ticker symbol “TIER,” with completion of the listing subject to certain customary conditions. In connection with the anticipated listing,…

JDSU Sets Record Date for Spin

JDSU has announced several key dates in connection with the separation of its Communications and Commercial Optical Products business segment (“CCOP”) as a separate public company to be named Lumentum Holdings Inc., and the special dividend distribution of approximately 80.1% of Lumentum’s common stock to JDSU shareholders, subject to the conditions set forth in Lumentum’s…

Exterran Holdings Sets Spin-Off Terms

Exterran Holdings, Inc. has set the record date and distribution date for the spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corporation. Exterran Corporation has applied to list its common stock on the New York Stock Exchange under the symbol “EXTN.” Upon the completion of the…

Accretive Health Rejects Offer

Accretive Health, Inc. announced that its Board of Directors has resolved to undertake a review of strategic alternatives to enhance stockholder value. While the review is ongoing, the Company’s strengthened management team will continue to focus on a number of strategic and operational initiatives intended to drive the Company’s long term growth and financial performance….

TECO Confirms It’s Looking for Buyer

While it is the long-standing policy of TECO Energy, Inc. not to confirm or deny market rumors, in response to media reports concerning a potential sale of the company, the company confirmed that it is exploring strategic alternatives. TECO Energy has retained Morgan Stanley & Co. LLC to advise the company in connection with exploring such…

Heck is Wrong with Global Power Equipment Group?

In 2006, Global Power Equipment Group filed for bankruptcy due to losses at one of its divisions and “associated financial reporting deficiencies”. Fast forward to 2015 and shareholders got a deja vous all over again with this company press release: “On May 5, 2015, the Audit Committee of the Board of Directors of Global Power…

Pleasant Lake’s Slide Deck on Magnachip

July 08, 2015 Magnachip Semiconductor Corporation 60 South Market Street, Suite 750 San Jose, CA 95113 Attn: Douglas Norby, Chairman Dear Doug, As you know, funds managed by Pleasant Lake Partners (“PLP”) are one of the largest shareholders of Magnachip with a 9.95% stake in the Company (though as we’ve expressed to you, PLP likely…

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