Note 7 - Investments in U.S. Treasury Notes and Bills and Marketable Securities

9 Months Ended

Jun. 30, 2012

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 7 -  Investments in U.S. Treasury Notes and Bills and Marketable Securities

     Investments in U.S. Treasury Bills and marketable securities categorized as “available-for-sale” are stated at fair value, with the unrealized gains and losses, net of taxes, reported in “Accumulated other comprehensive income”.  As of June 30, 2012 and September 30, 2011, an unrealized gain of $49,710,000 (consisting of gross unrealized gains of $50,990,000 and gross unrealized losses of $1,280,000) and $24,532,000 (consisting of gross unrealized gains of $28,983,000 and gross unrealized losses of $4,451,000), respectively, net of taxes, was recorded in accumulated other comprehensive income in the accompanying condensed consolidated balance sheets.  The Company uses quoted prices in active markets for identical assets (consistent with the Level 1 definition in the fair value hierarchy) to measure the fair value of its investments on a recurring basis pursuant to Accounting Standards CodificationTopic 820.

Investments in equity securities and securities with fixed maturities as of June 30, 2012 and September 30, 2011 are summarized by type below.

	June 30, 2012						September 30, 2011
	(Unaudited)
	Aggregate fair value		Amortized/ Adjusted cost basis		Pretax unrealized gains		Aggregate fair value		Amortized cost basis		Pretax unrealized gains
U.S. Treasury Bills	$	2,800,000	$	2,800,000	$	---	$	13,100,000	$	13,100,000	$	---
Marketable securities
Common stocks		86,869,000		40,190,000		46,679,000		48,393,000		26,655,000		21,738,000
Bonds		7,962,000		4,931,000		3,031,000		7,723,000		4,929,000		2,794,000
Total	$	97,631,000	$	47,921,000	$	49,710,000	$	69,216,000	$	44,684,000	$	24,532,000

    At June 30, 2012, the U.S. Treasury Bills had maturity dates of less than one year, and the bonds mature in 2039.   All investments are classified as “Current assets” because they are available for sale at any time.

   As of June 30, 2012, the Company performed separate evaluations for impaired equity securities to determine if the unrealized losses were other-than-temporary. This evaluation considered a number of factors including, but not limited to, the length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer and the Company’s ability and intent to hold the securities until fair value recovers.  The assessment of the ability and intent to hold these securities to recovery focuses on liquidity needs, asset/liability management and portfolio objectives.  Based on the results of the evaluations, the Company concluded that as of June 30, 2012, the unrealized losses related to the marketable securities of one issuer were other-than-temporary and recorded impairment losses of $2,855,000 ($1,720,000 net of taxes).  This does not necessarily indicate the loss in value of these securities is permanent. U.S. GAAP requires that the Company recognize other-than-temporary impairment losses in earnings rather than in accumulated comprehensive income when the security prices remain below cost for a period of time that may be deemed excessive even in instances where the Company possesses the ability and intent to hold the security.