Ken Joyce
Ken Joyce
associated charge continue designed employee expect expenses goal improving included increase intend million process program reduce reducing reduction savings seek separation support yield
As we seek to increase profitability, we are undertaking a comprehensive program designed to streamline our corporate-wide support organization and reduce SG&A costs. Fourth-quarter SG&A expenses included a charge of $3.3 million associated with employee reduction and separation expenses, which we expect to yield annualized savings of around $8 million. We intend to continue this process during 2006 with the goal of not only reducing costs, but also improving operational effectiveness.
guys handle mental
It's all a mental thing. It's all a grind, and these guys have to handle that professionally and they did that tonight.
addition available billion completed credit designed due facility financing fourth group improve james june loan members million notes november offering proceeds quarter replaced revolving secured senior series taiwanese term
During the fourth quarter we completed a series of financing initiatives designed to improve our liquidity. We completed a NT$1.8 billion (approximately $54 million) 5-year secured term loan with a group of Taiwanese lenders, and we replaced our $30 million secured revolving credit facility with a new $100 million senior secured revolver that is available through November 2009. In addition our chairman, James Kim, and members of his family, subscribed to an offering of $100 million of 6.25% convertible subordinated notes due 2013, the proceeds of which were used to repurchase $100 million of 5.75% convertible notes due June 1, 2006.
movement pitches record seemed understand
I can't understand how his record is how it is. It seemed like every one of his pitches had movement on it.
chance helps obviously win
It's huge. To get a chance to get to the playoffs, obviously it helps to win series, and we've done that so far.
best compete nice today
It was nice to see (Cheng) go out and compete today without his best stuff.
both teams
It was nothing. I just think both teams are tired.
bit college mature move opportunity players quickly
The college-aged players are a little bit more mature and have the opportunity to move a little bit more quickly through this organization.