Subsequent Events

9 Months Ended

Oct. 02, 2011

Subsequent Events

Subsequent Events

13.  Subsequent Events

Dividend Declared

On October 31, 2011, the Company declared a quarterly dividend of eleven cents ($0.11) per share on each outstanding share of Class A Common Stock and Class B Common Stock payable on December 2, 2011 to stockholders of record at the close of business on November 21, 2011.

New Director

On October 31, 2011, the Company announced that its Board of Directors elected W. Craig Kissel to serve as a member of the Company’s Board of Directors until the Company’s 2012 Annual Meeting of Stockholders or until his successor has been duly elected and qualified.  Mr. Kissel was also appointed by the Board to serve as a member of each of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board of Directors.

Pension Plans Freeze

On October 31, 2011, the Company’s Board of Directors voted to cease accruals effective December 31, 2011 under both the Company’s Pension Plan and Supplemental Employees Retirement Plan.  The Company expects to record a curtailment charge of approximately $1.4 million in the fourth quarter of 2011 in connection with this action.  The Board also voted to enhance the Company’s existing 401(k) Savings Plan.