STOCK AND DEBT REPURCHASE PROGRAM

9 Months Ended

Sep. 30, 2011

STOCK AND DEBT REPURCHASE PROGRAM

STOCK AND DEBT REPURCHASE PROGRAM

7. STOCK AND DEBT REPURCHASE PROGRAM

We retired all of the Senior Notes that remained outstanding on September 21, 2011 for $24.5 million in cash, resulting in a loss of $26,000 on early extinguishment of debt, net of $26,000 of associated unamortized discount. We retired $34.6 million of the Senior Notes during the nine months ended September 30, 2011, for $34.6 million in cash, resulting in a loss of $54,000 on early extinguishment of debt, net of $77,000 of associated unamortized discount. Of the $34.6 million in Senior Notes retired during the nine months ended September 30, 2011, $10.1 million were held by Chou or an affiliate of Chou and $21.7 million were held by Fairfax or an affiliate of Fairfax. Chou and Fairfax are beneficial owners of more than 5% of our common stock. We retired $16.1 million of the Senior Notes during the three months ended September 30, 2010 for $15.8 million in cash, resulting in a gain of $141,000 on early extinguishment of debt, net of $92,000 of associated unamortized discount. We retired $25.4 million of the Senior Notes during the nine months ended September 30, 2010 for $24.9 million in cash, resulting in a gain of $346,000 on early extinguishment of debt, net of $158,000 of associated unamortized discount.

As of September 30, 2011 and December 31, 2010, zero and $34.5 million of the Senior Notes, net of debt discount remained outstanding, respectively.

During the three months ended September 30, 2011 and 2010, we withheld from vesting restricted stock awards a total of 180 and 150 shares of our common stock for $2,000 and $3,000 respectively. For the nine months ended September 30, 2011 and 2010, we withheld from vesting restricted stock awards a total of 98,000 and 63,000 shares of our common stock for $1.6 million and $821,000 respectively. The shares withheld represented the minimum tax withholdings upon the vesting of those restricted stock award grants to satisfy the minimum tax withholdings owed by the grantee of the restricted stock award grant. None of these shares were repurchased in the open market.