The following are recent letters that were sent from the Kahn Brothers and Esopus Creek to Syms management. Good reads. As I have said multiple times (here and here) these guys act as a gatekeeper that keeps the company from doing anything too crazy- such as only taking bids for the company as a whole... It seems that this communication will only do good for the process of getting the company to full value and realize it's potential, as the facts are so overwhelmingly in favor of what they argue for.
In the first, the Kahn Brothers suggest looking at the possibility of a tax free spin-off of the real estate assets of the company. In the second, Esopus Creek suggests that only taking bids for the company as a whole would be a blunder.
Disclosure: I am long SYMS. This is not advice of any kind. Always do a ton of your own research in regards to anything that I say, do, talk, write, or so much as even think about.