LCA-Vision might close more surgery centers in '09 - Puget Sound Business Journal (Seattle):

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The news sent shares of LCA LCAV) down sharply during late-morning trading. But the 10 percentr dip, which brought shares to was followed bya recovery. Shares in LCA closedr up about1 percent, or 8 cents, to $6.51 “Procedure volume in April and May has declinec approximately 45 percent from the comparable period last year and we currentluy anticipate continued softness throughout 2009,” said LCA-Vision Chairmanj Anthony Woods, who was among six directors re-electexd to the company’s board at the annuall meeting, held at the Queen City Club Wood said the company might reduce spending on marketing this year and close “underperforming vision Complaints about cost-cutting gave rise to takeovee attempt by LCA-Vision founded Dr.
Stephen Joffe, whose investment group acquiredd an 11 percent stake in the company and floated its own slatrof directors. The Joffe grou p terminated its reform effort in March and Joff e has since sold more than half of his In additionto re-electing six directors, shareholders rejected a stockholders' rights plan that makess hostile takeovers more