13F-HR 1 inftable.txt SCHEDULE 13F FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Acxiom Corp COM 005125109 36868 1437335 SH SOLE 1435835 1500 851 33194 SH OTHER 04 02 33194 Advo Inc. COM 007585102 2218 68025 SH SOLE 67325 700 386 11852 SH OTHER 04 02 11852 Alberto Culver Co. COM 013078100 916 42712 SH SOLE 42712 Alpharma Inc Class A COM 020813101 7621 316240 SH SOLE 316240 244 10115 SH OTHER 04 02 10115 Altria Group Inc Com COM 02209S103 1236 14400 SH SOLE 14400 American Capital Strategies COM 024937104 1381 29850 SH SOLE 29850 American Financial Realty Trus COM 02607P305 7684 671695 SH SOLE 671695 177 15472 SH OTHER 04 02 15472 American Intl. Group COM 026874107 250 3491 SH SOLE 3491 AutoZone, Inc. COM 053332102 30894 267345 SH SOLE 267045 300 208 1800 SH OTHER 02 1800 B J Services COM 055482103 209 7120 SH SOLE 7120 Barrick Gold Corp. COM 067901108 368 12002 SH SOLE 12002 Bed Bath & Beyond, Inc. COM 075896100 3810 100000 SH SOLE 100000 Best Buy Inc Com COM 086516101 6739 137000 SH SOLE 137000 Bristol-Myers Squibb Co. COM 110122108 809 30736 SH SOLE 30736 Brookfield Asset Mgmt Cl A Ltd COM 112585104 5582 115852 SH SOLE 115327 525 Buckeye Technologies Corp. COM 118255108 31386 2619850 SH SOLE 2616750 3100 691 57647 SH OTHER 04 02 57647 Cabot Oil & Gas COM 127097103 2031 33480 SH SOLE 33480 Canadian Natl Railway Co. COM 136375102 13770 320000 SH SOLE 320000 CBS Corp New Cl B COM 124857202 11740 376520 SH SOLE 375595 925 164 5255 SH OTHER 02 5255 Cedar Fair, L.P. * COM 150185106 6345 228059 SH SOLE 228059 Chesapeake Energy Corp COM 165167107 13720 472305 SH SOLE 471395 910 149 5120 SH OTHER 02 5120 CIT Group Inc. COM 125581108 3165 56745 SH SOLE 56745 Citigroup Inc. COM 172967101 506 9080 SH SOLE 9080 Citizens Communications Co. COM 17453B101 5243 364889 SH SOLE 364889 32 2200 SH OTHER 02 2200 Colgate-Palmolive COM 194162103 1165 17861 SH SOLE 17861 Compton Petroleum Corp COM 204940100 3493 383010 SH SOLE 383010 156 17115 SH OTHER 04 02 17115 Core Laboratories N V Com COM N22717107 17085 210925 SH SOLE 210925 444 5485 SH OTHER 04 02 5485 CVS Corp. COM 126650100 15455 500000 SH SOLE 500000 Darwin Professional Underwrite COM 237502109 4788 204170 SH SOLE 204170 11 485 SH OTHER 02 485 Equity Inns, Inc.* COM 294703103 753 47200 SH SOLE 47200 29 1840 SH OTHER 02 1840 Exxon Mobil Corp COM 30231G102 239 3120 SH SOLE 3120 Federated Dept. Stores, Inc. COM 31410H101 22985 602800 SH SOLE 602800 FedEx Corporation COM 31428X106 32477 299000 SH SOLE 299000 Ferrellgas Partners LP * COM 315293100 653 30550 SH SOLE 30550 First Horizon National Corpora COM 320517105 2742 65622 SH SOLE 65622 Freddie Mac COM 313400301 509 7500 SH SOLE 7500 Gallagher Arthur J & Co COM 363576109 10851 367198 SH SOLE 366398 800 146 4950 SH OTHER 02 4950 Gardner Denver Inc. COM 365558105 46872 1256275 SH SOLE 1254975 1300 1203 32251 SH OTHER 04 02 32251 Gartner Inc. COM 366651107 35651 1801450 SH SOLE 1799350 2100 823 41595 SH OTHER 04 02 41595 General Electric COM 369604103 714 19200 SH SOLE 19200 Geomet Inc. COM 37250U201 6346 610230 SH SOLE 610230 217 20835 SH OTHER 04 02 20835 Grant Prideco Inc COM 38821G101 8934 224646 SH SOLE 223946 700 50 1258 SH OTHER 02 1258 Gulf Island Fabrication Inc COM 402307102 332 9000 SH SOLE 9000 7 200 SH OTHER 02 200 HCC Ins Hldgs Inc. COM 404132102 10051 313210 SH SOLE 312560 650 141 4395 SH OTHER 02 4395 Home Depot, Inc. COM 437076102 32329 805000 SH SOLE 805000 Hugoton Royalty Trust * COM 444717102 585 23800 SH SOLE 23800 Infinity Property & Casualty C COM 45665Q103 27283 563810 SH SOLE 563110 700 746 15425 SH OTHER 04 02 15425 Intl. Business Machines COM 459200101 1648 16960 SH SOLE 16960 IPIX Corp Com COM 44982L103 1 38793 SH SOLE 38793 Ishares - Russell 2000 Value COM 464287630 3032 37875 SH SOLE 37875 J. C. Penney Co., Inc COM 708160106 60569 782955 SH SOLE 782375 580 217 2800 SH OTHER 02 2800 Jarden Corp COM 471109108 20628 592920 SH SOLE 592320 600 503 14470 SH OTHER 04 02 14470 Jos A Bank Clothiers Inc. COM 480838101 5870 200000 SH SOLE 200000 JPMorgan Chase & Co COM 46625H100 223 4617 SH SOLE 4617 Kaydon Corp. COM 486587108 28911 727511 SH SOLE 726661 850 531 13361 SH OTHER 04 02 13361 Kinder Morgan Management LLC COM 49455U100 1860 40725 SH SOLE 40725 Liberty Media-Interactive Clas COM 53071M104 15213 705295 SH SOLE 705295 Lubrizol Corp COM 549271104 13079 260895 SH SOLE 260245 650 153 3050 SH OTHER 02 3050 MacQuarie Infrastructure Co COM 55607X108 834 23500 SH SOLE 23500 MDS Inc COM 55269P302 19380 1066015 SH SOLE 1064815 1200 515 28315 SH OTHER 04 02 28315 Mettler-Toledo Intl COM 592688105 19152 242895 SH SOLE 242595 300 429 5442 SH OTHER 04 02 5442 MSC Industrial Direct Co-A COM 553530106 21900 559380 SH SOLE 558780 600 464 11840 SH OTHER 04 02 11840 MTS Systems Corp COM 553777103 9322 241370 SH SOLE 241370 368 9540 SH OTHER 04 02 9540 Mueller Water Products Inc. Cl COM 624758207 13434 901607 SH SOLE 900038 1569 329 22079 SH OTHER 04 02 22079 Municipal Mortgage & Equity * COM 62624B101 2465 76550 SH SOLE 76550 New Plan Excel Realty Trust* COM 648053106 361 13140 SH SOLE 13140 28 1032 SH OTHER 02 1032 Norfolk Southern COM 655844108 12495 248450 SH SOLE 248450 Oceaneering Intl., Inc. COM 675232102 24375 613980 SH SOLE 612780 1200 606 15256 SH OTHER 04 02 15256 Ocwen Finl Corp Com New COM 675746309 11476 723570 SH SOLE 723570 381 24033 SH OTHER 04 02 24033 Old Republic Int'l. COM 680223104 1408 60487 SH SOLE 60487 Parker Hannifin Corp COM 701094104 5560 72325 SH SOLE 71955 370 92 1200 SH OTHER 02 1200 Penn Virginia GP Hldgs LP* COM 70788P105 1556 78245 SH SOLE 78245 Plum Creek Timber Co Inc REIT* COM 729251108 2263 56800 SH SOLE 56800 Prospect Energy Corp COM 74348T102 629 36700 SH SOLE 36700 RCN Corp Com New COM 749361200 20201 670030 SH SOLE 670030 541 17955 SH OTHER 04 02 17955 Regions Financial Corp. COM 7591EP100 1377 36827 SH SOLE 36827 Ross Stores Inc COM 778296103 11222 383000 SH SOLE 383000 Safeco Corp Com COM 786429100 313 5000 SH SOLE 5000 Schering Plough Corp. COM 806605101 1241 52482 SH SOLE 52482 Scripps Co. Class A COM 811054204 17566 351735 SH SOLE 351245 490 172 3435 SH OTHER 02 3435 Shire PLC COM 82481R106 22210 359620 SH SOLE 358950 670 240 3880 SH OTHER 02 3880 Southern Co. COM 842587107 241 6532 SH SOLE 6532 Spherion Corporation COM 848420105 6497 874380 SH SOLE 874380 216 29026 SH OTHER 04 02 29026 Stewart Enterprises Inc Cl A COM 860370105 21008 3361290 SH SOLE 3359290 2000 609 97395 SH OTHER 04 02 97395 Suntrust Banks, Inc. COM 867914103 1041 12328 SH SOLE 12328 Synovus Financial Corp. COM 87161C105 1847 59911 SH SOLE 59911 Target Corp COM 87612E106 16436 288100 SH SOLE 288100 Texas Instruments COM 882508104 384 13325 SH SOLE 13325 The St. Joe Company COM 790148100 402 7500 SH SOLE 7500 Thermo Fisher Scientific Inc COM 883556102 22961 506980 SH SOLE 506130 850 279 6160 SH OTHER 02 6160 Toyota Motor Corp Sponsored Ad COM 892331307 9200 68500 SH SOLE 68500 Tuesday Morning Corp COM 899035505 11882 764130 SH SOLE 764130 242 15541 SH OTHER 04 02 15541 United Parcel Service Cl B COM 911312106 13496 180000 SH SOLE 180000 Valero Energy COM 91913Y100 307 6000 SH SOLE 6000 Wal-Mart Stores COM 931142103 48785 1056400 SH SOLE 1056400 Walgreen Co. COM 931422109 9040 197000 SH SOLE 197000 Walter Industries Inc. COM 93317Q105 16076 594290 SH SOLE 593340 950 362 13370 SH OTHER 04 02 13370 Weatherford International, Ltd COM G95089101 15632 374071 SH SOLE 373121 950 231 5520 SH OTHER 02 5520 XTO Energy Inc. COM 98385X106 3841 81642 SH SOLE 81642