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Additionally, we will continue to expand and improve our training initiatives for employees across all of our businesses. Their exceptional knowledge and outstanding service are the qualities that distinguish us most in the minds of many customers, and we are committed to helping our employees continuously develop their skills as "customer advocates" and build successful careers.

While market conditions may continue to work against us in the coming year, I believe we have the people, the passion and the "character" to meet the challenge. I look forward to reporting our progress to you in the year ahead.

Sincerely,


Gregory P. Josefowicz
Chairman, President and Chief Executive Officer