Looks like the value has yet to be realized and may be an opportunity. TREE is probably best to avoid since they are in mortgages, but TKTM looks very cheap with a P/B less than 1. TKTM PE ratio is well below the Entertainment industry as well. They are expanding in China and seemed to have handled the Olympics well.
I'm surprised how quiet this board is given the opportunity spin-offs present to the small investor.