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Andrew Shapiro is Founder, President and Portfolio Manager of Lawndale Capital Management, an investment advisor that has managed activist hedge funds focused on small- and micro-cap companies for over 21 years, one of the longest periods of experience deploying an activist/relational investment... More
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  • While maintaining exhibitor exposure, Mark Cuban reduces Carmike Cinemas stake
    Billionaire Mark Cuban maintains substantial investments in several entertainment and theater exhibition assets that range from controlling ownership interests in movie exhibition, movie distribution, movie production, sports franchises, among many others to minority investments in publicly traded companies in the same area. 

    According to an amended 13D filing made on April 6, 2010, Cuban recently reduced his large stake in cinema exhibitor Carmike Cinemas to 7.2% from his initial filing position of 9.4% at the end of 2008. www.sec.gov/Archives/edgar/data/799088/0...

    According to a February 16, 2010 13G filing, Cuban also holds a continuing 13.9% ownership position Reading International (O-RDI, RDIB), another cinema exhibitor and real estate operator and developer, after filing a Form 4 filing disclosing initiating his RDI position on June 22, 2009 at $4.51/share. www.sec.gov/Archives/edgar/data/716634/0...



    Disclosure: Presently long RDI and RDIB, short CKEC. This author may buy or sell shares at any time.
    Apr 07 9:46 AM | Link | Comment!
  • PFIN - P&F determining whether there are other interested independent board candidates

    In a 2/5/10 8-K filing, P&F Industries (O-PFIN) disclosed its Nominating Committee is evaluating the suggestion from shareholder Mr. Timothy Stabosz that he be added to the Board. The Nominating Committee is also in the process of determining whether there are other interested independent candidates for P&F’s Board. In connection with that determination, the Chairman of the Nominating Committee has invited Lawndale Capital Management, LLC, owner of approximately 7.4% of the Company’s common stock, to suggest potential candidates it considers appropriate for addition to P&F’s Board.

    Lawndale encourages interested candidates who feel they have skills and experience to specifically add value to P&F industries to contact Lawndale Capital Management at your earliest opportunity.

    P&F Industries, Inc., through its two wholly-owned subsidiaries, Continental Tool Group Inc. and Countrywide Hardware, Inc., manufactures and/or imports air-powered tools and builders' hardware. Its products are sold under their own trademarks, as well as under the private labels of major manufacturers and retailers. Further information on P&F can be found at its corporate website: http://www.pfina.com/

    Contact:

    Andrew Shapiro
    President
    Lawndale Capital Management, LLC
    591 Redwood Highway #2345
    Mill Valley, CA 94941
    phone- 415-389-VALUE (8258)
    fax- 415-389-0180
    e-mail- aeshapiro@lawndalecap.com
    IM – lawndalecapital


    Link to full 2/5/10 8-K filing  - http://www.sec.gov/Archives/edgar/data/75340/000110465910004998/a10-3209_18k.htm

    Item 8.01.              Other Events.

    Consistent with the policy the Board of Directors (the “Board”) of P&F Industries, Inc. (the “Company”) adopted on October 8, 2009 (the “Policy”) with respect to suggestions from stockholders directed to the Nominating Committee of the Board (the “Nominating Committee”) as to nominees for election to the Board at annual meetings of the Company’s stockholders (as set forth in the Company’s Current Report on Form 8-K dated October 13, 2009), the Nominating Committee is evaluating the suggestion from Mr. Timothy Stabosz (set forth in his Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on September 18, 2009, as amended on November 9, 2009) that he be added to the Board. The Nominating Committee is also in the process of determining whether there are other interested independent candidates for the Board. In connection with that determination, the Chairman of the Nominating Committee has invited Lawndale Capital Management, LLC (which has reported, in a Schedule 13D filed with the SEC on February 3, 2010, beneficial ownership of approximately 7.4% of the Company’s common stock) to suggest potential candidates it considers appropriate for addition to the Board.
     
    As contemplated by the Policy, interested candidates will be evaluated by the Nominating Committee in the context of the Nominating Committee’s determination regarding all issues relating the composition of the Board, including the size of the Board, any criteria the Nominating Committee may develop for prospective Board candidates and the qualifications of candidates relative to any such criteria. The Nominating Committee’s identification of potential candidates is ongoing and its recommendation to the Board will be made once that process and the evaluation of identified candidates is completed. The outcome of this process is not currently determinable.



    Disclosure: Long presently with a 13D filing. This author may buy or sell shares at anytime.
    Feb 05 2:43 PM | Link | Comment!
  • 109-yr old Sparton Corp. (N-SPA) emerges from crypt with investor relations program - LINKS
    Sparton Corp. (N-SPA), founded as the Withington Company in 1900 in Jackson, Michigan and one of the oldest companies listed on the NYSE has a century long history of manufacturing technologically advanced equipment for the transportation, electronics, communications and defense industries. Until new turnaround management was brought in at the very end of 2008, Sparton also had as long a history of horrible investor relations and communication. That dark facet of Sparton's history has come to an end this past month with the emergence of Sparton's management from the bunker to more overtly tell its story of an impressive turnaround in progress.

    1) First unveiled at Sparton's annual meeting October 28 and then presented last week in New York City, Sparton's new CEO, Cary Wood, took this show on the road and made presentations to existing and prospective investors.  

    2) Today, Mr. Wood presented Sparton's story at an investor conference for the first time in Sparton's history, the SWIdeas conference (www.threepa.com/SWIdeas.html). ;For the time being, the audio webcast replay of that presentation can be found at www.wsw.com/webcast/threepa/spa/audio.asx

    3) Next week, on Thurs, Nov. 19th, 2009, at 11AM EST, Sparton will host a conference call to discuss its September Q1 (FYE 6/10) financial results and respond to investor questions. To participate, callers should dial (800) 757-8473. Participants should dial in at least 15 minutes prior to the start of the call. A Web presentation link is also available for the conference call: 
    https://www.livemeeting.com/cc/gc_min_pro_usa/join?id=Z3M3WC&role=attend

    4) Past presentations (and this upcoming one as well) of quarterly results from this new management team are now available on Sparton’s Web site: http://www.sparton.com in the “Investor Relations” section.

    5) We understand in early December, Mr. Wood will be coming to the west coast  for similar one/one presentations as his early November foray in New York City.

    Having been highly critical of Sparton's past investor relations practices, this vastly improved investor relations and communications program is certainly a pleasant facet of the new era at Sparton.   

    Long Sparton shares, presently with a 13D filing position. This author may buy or sell shares of Sparton at anytime. 
    Nov 11 12:32 PM | Link | Comment!
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