Note 3 - Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

9 Months Ended

Sep. 30, 2011

Restricted Cash And Investments Current Item Description [Text Block]

3.   Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

The Company collateralizes its lines of credit (non-Palladium) with the following (in thousands):

	September 30, 2011		December 31, 2010
Restricted cash and cash equivalents	$	13,478	$	7,835
Restricted investments available for sale:
U.S. Treasury Notes		5,016		15,055
Corporate Notes and Bonds		4,112		0
Accrued interest income		96		28
Total restricted investments available for sale		9,224		15,083
Total restricted cash and cash equivalents and restricted investments available for sale	$	22,702	$	22,918

The restricted investments are classified as available for sale and are stated at fair value.  At September 30, 2011, gross unrealized holding gains were $18,000 and gross unrealized holding losses were $5,000 and at September 30, 2010, gross unrealized holding gains were $67,000.  Included in comprehensive income were changes in net unrealized losses of $25,000 and $13,000 for the nine and three months ended September 30, 2011, respectively.  Included in comprehensive income were changes in net unrealized holding gains of $44,000 and $9,000 for the nine and three months ended September 30, 2010, respectively.  The Company capitalizes any premiums paid or discounts received and amortizes the premiums or accretes the discounts on a straight-line basis over the remaining term of the security.  Investments by contractual maturities as of September 30, 2011 were as follows (in thousands):

Within one year	$	21,631
After one year through five years		1,071
After five years through ten years		0
After ten years		0
	$	22,702

There were no sales of restricted investments available for sale during the nine and three months ended September 30, 2011 and 2010, respectively.