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Related Party Transactions
12 Months Ended
Sep. 28, 2013
Related Party Transactions [Abstract]  
Related Party Transactions

16. Related Party Transactions

 

The Company will from time to time make short-term non-interest bearing loans to the Company’s Investment/Profit Sharing Plan to allow the plan to meet distribution obligations during a time when the plan was prohibited from selling shares of the Company’s Class A common stock.  At September 28,  2013 no such loans were outstanding.

 

In fiscal 2013, the Company approved the repurchase of 1.5 million shares of the Compnay’s Class B Common Stock from a trust that is part of the estate of Robert P. Ingle, former CEO and Director of the Company.  The aggregate purchase price for the stock was $37.1 million, equal to the fair market value of the Company’s publicly traded Class A Common Stock at the time of the transaction.  The transaction was approved by the Company’s Executive Committee and Audit Committee in accordance with Company policy and regulatory guidelines.