Stock-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2012

Schedule of Risk Free Rate Based on U.S. Treasury Yield Curve Effect at Time of Grant

The risk free rate is based on the U.S. Treasury yield curve in effect at the time of grant.

Year ended July 31	2012
ASSUMPTIONS
Average risk-free interest rate		1.46	%
Expected dividend yield		4.6	%
Expected volatility		66.8	%
Expected term		6.6 years

Summary of Stock Option Activity

A summary of stock option activity for the Company is as follows:

	Number of Options (in thousands)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at July 31, 2011		469		$	33.20
Granted		263			13.42
Exercised		—			—
Cancelled / Forfeited		(28	)		20.84
OUTSTANDING AT JULY 31, 2012		704		$	16.63		8.1	$	—
EXERCISABLE AT JULY 31, 2012		469		$	18.62		6.0	$	—

Grants of Restricted Shares of Class B Common Stock

A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below:

(in thousands)	Number of Non-vested Shares			Weighted- Average Grant- Date Fair Value
Non-vested shares at July 31, 2011		2,372		$	6.77
Granted		455			10.43
Vested		(699	)		8.14
Forfeited		—			—
NON-VESTED SHARES AT JULY 31, 2012		2,128		$	7.21