Given the company's small amount of debt relative to its cash flow, this is a good time to return cash to our shareholders.

Bad debt is debt that is used to enhance consumption.

Our investigation at the Star Tribune was thorough, involving thousands of pages of circulation records and hundreds of interviews with employees and independent contractors. We see no need to restate any circulation numbers reported [to the Audit Bureau of Circulation] by the newspaper.

I think you can expect a more robust and interactive Web site here at The Herald.

We are generally pleased that we were able to report a solid quarter in a tough advertising environment, ... Sluggish retail advertising and continued declines in automotive reduced the rate of revenue growth in the quarter. But our real estate and employment advertising remained strong both in print and online, with online advertising showing continued strength in all categories.

We see no reason to restate any circulation numbers reported by the Star Tribune,