Avenir Corp. doesn't believe Chimera should proceed with its 250-million-share follow-on offering, arguing that it would be "highly dilutive to existing stockholders." Another activist investor, ValueAct Capital Management, also opposes the offering, which it contends "exhibits disregard for current Chimera shareholders." Avenir holds 3,037,059 shares (7.8% of the total outstanding).

West Coast Asset Management said that it may approach QLT about taking the Vancouver biopharmaceutical maker private or merging it with another company. West Coast Asset reported holding 5.6 million shares (7.5%).

Cannell Capital sent a letter to VVTV's CEO, suggesting a $1.20-a-share special dividend. Cannell had previously informed ValueVision of its intention to present several nominees to the board of the direct-marketing company. Cannell said it will evaluate its options in calling a special meeting of shareholders to vote on the dividend proposal. Cannell Capital has 1,943,123 shares (5.8%).

Kirk Kerkorian's Tracinda Corp. cut its stake to about 107.1 million shares (4.89%), by selling about 26.4 million shares from Oct. 21 to 27 at an average price of $2.01. Tracinda previously had said that it intends to further reduce its Ford holding and might sell all of it.

Investor Anthony W. Thompson submitted a letter nominating himself and two others for election to the board at the Dec. 3 annual meeting. Thompson intends to present stockholder proposals at the annual meeting that, if adopted, would amend GBE bylaws to prevent the board from delaying the annual meeting or adjourning any meeting without stockholder approval, if a quorum is present. Thompson owns 8,672,708 shares (13.3%).

Wynnefield Capital wants NLCI to talk to Knowledge Learning about a merger, as well as to explore other potential strategic and financial transactions. Wynnefield believes that while Nobel Learning has the potential to boost shareholder value through internal growth over the long term, this wouldn't be comparable to the value resulting from the sale of the company. Wynnefield Capital and its affiliates own 1.33 million shares (12.8%).

Shamrock Activist Value Fund reported ownership of 1,680,000 shares (5.8%), bought from Sept. 2 to 24 at prices ranging from $15.12 to $21.47.

SCSF Equities reported owning 5,543,579 shares (6.2%) after buying 1,838,454 from Oct. 14 to 16 at $1.47 to $1.49 each.