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Investment in Marketable Securities

6 Months Ended

Jul. 07, 2012

Investment in Marketable Securities [Abstract]

(12)

Investment in Marketable Securities

The Company’s investment in marketable securities consists exclusively of shares of Dana common stock. The Company’s investment in Dana common stock is classified as an available-for-sale security in accordance with ASC 320-10-25, Investments – Debt and Equity Securities – Recognition, and measured at fair value as determined by a quoted market price (a level 1 valuation under ASC 820-10). The related unrealized holding gains are excluded from operations and recorded in accumulated other comprehensive loss on the consolidated balance sheets. At July 1, 2012 and December 31, 2011, the Company owned 100,000 and 143,966 common shares of Dana with a market value of $12.81 and $12.15 per share, respectively. At July 1, 2012 and December 31, 2011, the gross unrealized gain was approximately $1,236,000 and $1,685,000, respectively. Realized gains and losses and declines in value judged to be other-than-temporary will be included in other income or expense, if and when recorded. In accordance with ASC 820-10, the fair value of the shares was valued based on quoted market prices in active markets for identical shares at July 1, 2012 and December 31, 2011.

The following table summarizes marketable securities as of July 1, 2012 and December 31, 2011 (in thousands):


	Basis		Gross Unrealized Gain/(Loss)		Gross Realized Gain/(Loss)		Fair Value At Quoted Prices in Active Markets (Level 1)
Marketable securities, July 1, 2012	$	45	$	1,236	$	0	$	1,281

Marketable securities, December 31, 2011	$	64	$	1,685	$	0	$	1,749