The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T Inc. COM 00206R102 10,391 296,282 SH   SOLE   296,282 0 0
Alcoa Inc COM 013817101 1,655 128,630 SH   SOLE   128,630 0 0
Allstate Corp. COM 020002101 8,700 153,770 SH   SOLE   153,770 0 0
AnnalyCapMgmtIncREIT COM 035710409 8,878 809,275 SH   SOLE   809,275 0 0
Applied Materials COM 038222105 3,236 158,500 SH   SOLE   158,500 0 0
ArcherDanielsMidland COM 039483102 8,999 207,395 SH   SOLE   207,395 0 0
BB&T Corporation COM 054937107 1,775 44,190 SH   SOLE   44,190 0 0
Baker Hughes Inc. COM 057224107 11,225 172,640 SH   SOLE   172,640 0 0
Bank of America Corp. COM 060505104 4,376 254,411 SH   SOLE   254,411 0 0
Becton Dickinson & Co. COM 075887109 1,152 9,839 SH   SOLE   9,839 0 0
Best Buy Company Inc COM 086516101 514 19,460 SH   SOLE   19,460 0 0
Black Box Corporation COM 091826107 5,029 206,616 SH   SOLE   206,616 0 0
Boeing Company COM 097023105 8,388 66,840 SH   SOLE   66,840 0 0
Coach Inc. COM 189754104 8,058 162,270 SH   SOLE   162,270 0 0
Cullen Frost Bankers COM 229899109 5,960 76,876 SH   SOLE   76,876 0 0
Dover Corporation COM 260003108 4,142 50,665 SH   SOLE   50,665 0 0
Dow Chemical Co COM 260543103 7,337 151,004 SH   SOLE   151,004 0 0
EMC Corporation COM 268648102 3,989 145,525 SH   SOLE   145,525 0 0
Emcore Corporation COM 290846203 63 12,500 SH   SOLE   12,500 0 0
Enzo Biochem Inc. COM 294100102 291 70,001 SH   SOLE   70,001 0 0
Gannett Company Inc COM 364730101 2,834 102,695 SH   SOLE   102,695 0 0
Hewlett-Packard Co COM 428236103 10,732 331,645 SH   SOLE   331,645 0 0
IBM Corporation COM 459200101 12,265 63,715 SH   SOLE   63,715 0 0
Johnson Controls Inc COM 478366107 3,283 69,375 SH   SOLE   69,375 0 0
Lincoln National Corp. COM 534187109 1,811 35,734 SH   SOLE   35,734 0 0
Marsh & McLennan COM 571748102 3,830 77,680 SH   SOLE   77,680 0 0
Maxim Intgrd Products COM 57772K101 1,765 53,300 SH   SOLE   53,300 0 0
Merck & Co. Inc. COM 58933Y105 3,976 70,045 SH   SOLE   70,045 0 0
Microsoft Corporation COM 594918104 752 18,335 SH   SOLE   18,335 0 0
Mosaic Co. (The) COM 61945C103 4,888 97,760 SH   SOLE   97,760 0 0
Nat'l Oilwell Varco Inc COM 637071101 5,084 65,286 SH   SOLE   65,286 0 0
Occidental Petro Corp COM 674599105 1,527 16,027 SH   SOLE   16,027 0 0
Qualcomm Inc COM 747525103 2,779 35,235 SH   SOLE   35,235 0 0
Quest Diagnostics Inc COM 74834L100 2,139 36,935 SH   SOLE   36,935 0 0
Raytheon Company COM 755111507 5,108 51,710 SH   SOLE   51,710 0 0
Staples Inc COM 855030102 8,541 753,200 SH   SOLE   753,200 0 0
Star Scientific Inc COM 85517P101 188 240,000 SH   SOLE   240,000 0 0
Target Corporation COM 87612E106 7,511 124,135 SH   SOLE   124,135 0 0
US Natural Gas Fd ETF COM 912318201 333 13,650 SH   SOLE   13,650 0 0
Wal-Mart Stores Inc COM 931142103 5,504 72,015 SH   SOLE   72,015 0 0
Western Union Co/The COM 959802109 9,733 594,906 SH   SOLE   594,906 0 0
BP Plc ADS ADR 055622104 7,608 158,180 SH   SOLE   158,180 0 0
Barclays Plc ADR ADR 06738E204 3,213 204,675 SH   SOLE   204,675 0 0
Ensco Plc ADS ADR G3157S106 2,608 49,409 SH   SOLE   49,409 0 0
Ericsson ADS ADR 294821608 1,984 148,865 SH   SOLE   148,865 0 0
Honda Motor Co Ltd. ADR 438128308 1,467 41,500 SH   SOLE   41,500 0 0
Rio Tinto Plc ADR 767204100 4,924 88,205 SH   SOLE   88,205 0 0
Royal Dutch Shell A Plc ADR 780259206 2,892 39,587 SH   SOLE   39,587 0 0
Sanofi ADS ADR 80105N105 4,025 76,995 SH   SOLE   76,995 0 0
Teva Phrm Ind Ltd ADR ADR 881624209 9,636 182,365 SH   SOLE   182,365 0 0
XL Group Ltd. ADR G98290102 6,346 203,070 SH   SOLE   203,070 0 0
Morgan Stanley PFD A 1/1000 61 PFD 61747S504 384 19,300 SH   SOLE   19,300 0 0
US Bancorp Del Pfd B 1/1000DP PFD 902973155 387 17,700 SH   SOLE   17,700 0 0
Alliance WW Priv Fd (AWPAX) MMF 01879X103 318 19,580 SH   SOLE   19,580 0 0
MS India Invstmnt Fd (IIF) MMF 61745C105 361 18,500 SH   SOLE   18,500 0 0
Nuveen AMT-Free Muni Inc Fd NE MMF 6706D8104 194 15,011 SH   SOLE   15,011 0 0
Nuveen Insd Muni Opport Fund C MMF 670984103 275 20,000 SH   SOLE   20,000 0 0
Western Asset Interm Muni Fund MMF 831802103 909 95,500 SH   SOLE   95,500 0 0