PICO HOLDINGS: UCP Surrenders to Corporate Governance Improvements
Activist bloggers at http://www.ReformPICONow.com observe that perennial destroyer of shareholder value, UCP, has surrendered to PICO's demands for improvements to corporate governance. The bloggers predict that "UCP, as it is currently conceived, will survive either another 7 months if the debt maturity goes sideways or another year (barring a surprise offer or other unanticipated transaction). Either way, value destruction at UCP will end sometime soon and shareowners may finally realize an acceptable return on their investment.
UCP produced the bold headline: 'UCP Announces Expansion Of Board And Strengthened Corporate Governance.'