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Stock Plans
9 Months Ended
Sep. 30, 2011
Stock Plans [Abstract] 
Stock Plans
(11) Stock Plans:
At September 30, 2011, we had five stock-based compensation plans under which grants were made and awards remained outstanding.  No further awards may be granted under three of the plans: the 1996 Equity Incentive Plan, the Amended and Restated 2000 Equity Incentive Plan (collectively, together with the 2009 Equity Incentive Plan, the EIP) and the Deferred Fee Plan. At September 30, 2011, there were 12,540,761 shares authorized for grant under these plans and 7,090,425 shares available for grant under two of the plans.  
  
The following summary presents information regarding outstanding stock options as of September 30, 2011 and changes during the nine months then ended with regard to options under the EIP:

         
Weighted
 
Weighted
     
   
Shares
   
Average
 
Average
   
Aggregate
   
 Subject to
   
 Option Price
 
 Remaining
   
Intrinsic
   
 Option
   
 Per Share
 
 Life in Years
   
 Value
Balance at January 1, 2011
1,507,000
 
$
10.50
 
1.7
 
$
603,000
 
Options granted
-
 
$
-
         
 
Options exercised
(10,000)
 
$
8.19
     
$
12,000
 
Options canceled, forfeited or lapsed
(567,000)
 
$
11.52
         
Balance at September 30, 2011
930,000
 
$
9.92
 
1.5
 
$
-
                     
Exercisable at September 30, 2011
930,000
 
$
9.92
 
1.5
 
$
-
                     
There were no options granted or exercised during the first nine months of 2010.  There was no intrinsic value to the stock options outstanding and exercisable at September 30, 2010.  

The following summary presents information regarding unvested restricted stock as of September 30, 2011 and changes during the nine months then ended with regard to restricted stock under the EIP:

         
Weighted
     
         
Average
     
   
 Number of
   
 Grant Date
   
Aggregate
   
 Shares
   
 Fair Value
   
Fair Value
Balance at January 1, 2011
4,440,000
 
$
8.29
 
$
43,199,000
 
Restricted stock granted
1,721,000
 
$
9.41
 
$
10,513,000
 
Restricted stock vested
(1,135,000)
 
$
9.54
 
$
6,933,000
 
Restricted stock forfeited
(163,000)
 
$
8.03
     
Balance at September 30, 2011
4,863,000
 
$
8.41
 
$
29,711,000

For purposes of determining compensation expense, the fair value of each restricted stock grant is estimated based on the average of the high and low market price of a share of our common stock on the date of grant.  Total remaining unrecognized compensation cost associated with unvested restricted stock awards at September 30, 2011 was $29.6 million and the weighted average period over which this cost is expected to be recognized is approximately two years.

Shares granted during the first nine months of 2010 totaled 3,244,000.  The total fair value of shares granted and vested during the nine months ended September 30, 2010 was approximately $26.5 million and $7.1 million, respectively.  The total fair value of unvested restricted stock at September 30, 2010 was $36.6 million. The weighted average grant date fair value of restricted shares granted during the nine months ended September 30, 2010 was $7.53.