Warwick Valley Telephone (WWVY) Santa Monica Partners called for the resignation of director Herb Gareiss, who had been Warwick Valley's president and CEO until retiring from both positions Jan. 31, for health reasons. Santa Monica's Lawrence Goldstein said that, if Warwick Valley allows Gareiss to remain a director, it will only prove there is a "general lack of accountability at the board level of Warwick, where no one pays a price for failure." Santa Monica Partners holds 130,889 shares (2.4% of the total outstanding).

Lancaster Colony (LANC) Barington Capital Group and affiliates want the company to implement measures to improve profitability and its share price. Barington suggested a divestiture of the company's automotive, and glassware and candles units and a self-tender offer to repurchase at least $300 million of Lancaster's outstanding common. Barington Capital has 1,644,044 shares (5.2%).

TLC Vision (TLCV) Glenhill Advisors says that TLC is "underperforming" and that it may seek to speak with the company's management, board and other investors regarding the situation. Glenhill owns about 9.61 million shares (13.9%).

Hypercom (HYC) RLR Capital Partners wants the company to repurchase up to 18 million of its outstanding shares and to curtail acquisition plans until its core business improves. If improvements aren't made, RLR Capital maintains, the company should begin reviewing strategic alternatives, including a possible sale. RLR holds 2,709,745 shares (5.1%).

World Air Holdings (WLDA.pk) New York hedge fund Clinton Group will nominate Gen. David M. Snyder, George E. Hall and Conrad Bringsjord for election to the board at the company's annual meeting. The Clinton Group stated its "extreme disappointment" with World Air's performance and protested what it called the "lack of transparency" in the company's dealings with shareholders. The Clinton Group holds 1,174,628 shares (5.3%).

Novelis (NVL) Farallon Capital Management and its affiliates own 4,790,000 shares (6.4%), bought from Feb. 22 to March 15 at $43.63 to $43.98 each.

Websense (WBSN) Blum Capital Partners has 2,954,438 shares (6.6%), bought from Feb. 13 to March 16 at $21.38 to $22.87 a share.

QC Holdings (QCCO) Prides Capital Partners owns 2.63 million shares (13.4%), after buying 83,300 from March 8 to 14 at $13.01 to $13.24 a share.