Value Vision Update to CEO Change

On October 30 I wrote a piece on the CEO change at Value Vision VVTV (NASDAQ). Three weeks have past and a major shareholder in the firm in a 13D filing and a letter to management praised the recent management change but called for the sale of the company. In a story yesterday in MultiChannel News Mike Parrell wrote:

According to the filing, Soundpost Partners managing member Jamie Lester sent a letter to ValueVision chairman and interim CEO John Buck on Nov. 12 praising the company for its efforts to improve operations and reshuffle leadership. But Lester added more needed to be done. Soundpost owns about 2.8 million ValueVision shares, or about 7.5% of its outstanding stock.

As suggested on October 30th, keep a close eye on the company.