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Stock impact report

Tejon Ranch Co. plays defense at NYSE [Yahoo! Finance]

Tejon Ranch Co (TRC) 
US:NYSE Investor Relations: ir.tejonranch.com
Company Research Source: Yahoo! Finance
company is open to making substantial changes, now's not the time to sell off its long-delayed master-planned communities near the Grapevine. Before helping ring the bell to close trading at the New York Stock Exchange, President and CEO Matthew “Matt” Walker offered new concessions to investors frustrated by the sluggish stock performance of a company whose primary asset is the largest contiguous private property in California. Tejon Ranch's first-ever investor engagement event was the company's latest response to restive shareholders' campaign for cost-cutting, divestment and other moves they say will maximize the company's value. Already their successes include the removal of a director, the institution of quarterly earnings conferences and, most recently, $2 million in layoffs that claimed one-fifth of the company's staff. Friday's meeting came one day after Walker, named to the position in February, issued a nine-page public letter detailing his recent analysis of the compa Show less Read more
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