Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

I – SUBSEQUENT EVENTS

          On October 7, 2011, the Company announced the retirement of certain Company officers and a Company-wide reorganization of its operating and administrative functions (the “Reorganization”). The Reorganization was approved by the Company’s Board of Directors on October 4, 2011. As part of the Reorganization, the retirement and termination of employment of the affected officers and employees started during October of 2011 and will be completed in full by June 2012.

          As part of the Reorganization, the Board of Directors authorized the Company to offer certain severance benefits to the affected officers and employees on terms specified by the Board (collectively, the “Severance Program”). The estimated total expense of the Severance Program is approximately $2.6 million, which includes approximately $1.8 million in one-time severance payments and approximately $0.8 million of stock compensation expense related to the acceleration of restricted stock awards.