Farallon Capital Management wants MI Developments to foreclose on its loans to Magna if Magna fails to repay MI in full as required on March 20. Farallon's letter came after MI Developments' recent announcement that it won't proceed with a proposed reorganization that would have resulted in the spinoff of its stake in Magna. Farallon said it's "greatly troubled" by MI's silence on whether it will enforce Magna's debt obligations when they come due. Farallon holds 2,549,789 shares (5.5% of the total outstanding).

Carl Icahn may add nominees to the company's board. He also said that he may seek to expand the board and/or remove existing members at the next annual meeting of shareholders, or at a special meeting. Icahn, through his affiliates, reported holding 16.54 million shares (14.28%).

Ditech's board rejected an unsolicited, nonbinding proposal from AccessData to acquire it for $1.25 a share. Ditech said it determined that the offer isn't in the best interests of its shareholders since it doesn't reflect the current value of assets or the potential of initiatives Ditech plans. AccessData is a portfolio company of Lamassu Holdings, a 9.1% holder of Ditech's common stock.

Gamco Investors (GBL) intends to nominate three candidates, Clarence Davis, Vincent Enright and Jack Liebau, for election to the company's board at the '09 shareholders' meeting, in addition to Gary Sugarman, whom they nominated earlier. Gamco and affiliates hold 4.9 million shares (9.23%). Southeastern Asset Management has initiated a request under Delaware law requiring the company to disclose information related to its retention of a consulting firm. Southeastern said TDS's board has repeatedly cited the consultant's report and findings as justification for its strategy. However, it said the board and management have refused to disclose any details of the consultant's findings. Southeastern holds 3,075,748 common shares (5.8%).

Shareholder Todd W. Herrick intends to nominate four directors for election to the board at the 2009 annual meeting. They are Kent B. Herrick, Steven J. Lebowski, Terence C. Seikel and Zachary E. Savas. Herrick said that if elected, his nominees would constitute a majority of Tecumseh's directors. Herrick holds 1,679,445 class B common shares (33.1%).

A group of shareholders plan to nominate three directors for election to GS Financial's board at the company's 2009 annual meeting. The newly formed group, which includes shareholders Donald C. Scott, Philip J. Timyan and Martin S. Friedman, said it is concerned that the bank holding company has failed to maximize shareholder value. The shareholder group says that Scott, Timyan and Friedman can help the company reverse its current trends. The group holds 264,092 shares (20.7%).

Microsoft (MSFT) co-founder Bill Gates increased his holdings to 51.99 million shares (13.7%), after buying 4.25 million from Feb. 6 to Feb. 19 at an aggregate purchase price of $102 million.

Shamrock Activist Value Fund reduced its stake to 1.4 million shares (4.9%), from 1.7 million (5.91%) reported in January.