
17.	Capital Stock

The shares of Common Stock, Class A Common Stock and Class B Common Stock are identical except as to voting rights. Class A Common Stock has no voting rights except in limited circumstances. So long as more than 50% of the authorized number of shares of Class B Common Stock continues to be outstanding, all matters submitted to a vote of the stockholders, other than the election of directors, must be approved by a majority of the Class B Common Stock, voting as a class, and by a majority of the Common Stock, voting as a class. During such period, holders of a majority of the Class B Common Stock could veto corporate action, other than the election of directors, which requires stockholder approval. There are 25 million shares of preferred stock authorized, none of which were issued or outstanding during the three years ended June 30, 2011.

The Class B Common Stock can be converted into Common Stock on a share-for-share basis at any time at the option of the holder. The authorized Class A Common Stock would automatically convert into Common Stock on a share-for-share basis at the discretion of the Board of Directors upon the occurrence of certain events. Upon such conversion, the voting interests of the holders of Common Stock and Class B Common Stock would be diluted. Our Class B Common Stock outstanding has remained at 94,255 shares during the three years ended June 30, 2011.

The holders of the Common Stock, Class A Common Stock and Class B Common Stock participate equally, share-for-share, in any dividends that may be paid thereon if, as and when declared by the Board of Directors or in any assets available upon our liquidation or dissolution.

Changes in common stock for the years ended June 30 follows (in thousands):


					Class A
	Common Stock				Common Stock				Treasury Stock
	Shares		Amount		Shares		Amount		Shares			Amount

Outstanding at June 30, 2008		112,195	$	5,610		109,841	$	5,492		(44,692	)	$	(1,009,021	)
Exercise of stock options		—		—		539		27		(234	)		(3,959	)
Purchase of treasury stock		—		—		—		—		(4,507	)		(76,342	)
Issuance of stock awards		—		—		7		—		—			—
Other		9		—		81		4		—			—


Outstanding at June 30, 2009	112,204	$	5,610	110,468	$	5,523	(49,433	)	$	(1,089,322	)

Exercise of stock options	—		—	1,293		65	(509	)		(8,765	)
Purchase of treasury stock	—		—	—		—	—			—
Issuance of stock awards	—		—	1		—	—			—
Other	—		—	77		4	—			—

Outstanding at June 30, 2010	112,204	$	5,610	111,839	$	5,592	(49,942	)	$	(1,098,087	)
Exercise of stock options	—		—	1,484		74	(414	)		(7,952	)
Purchase of treasury stock	—		—	—		—	—			—
Issuance of stock awards	—		—	1		—	—			—
Other	—		—	76		4	—			—

Outstanding at June 30, 2011	112,204	$	5,610	113,400	$	5,670	(50,356	)	$	(1,106,039	)