Tom M. Pearce

Founded in 2002 by Brent Graham and Thomas Pearce, Vertical Capital LLC is a hedge fund manager and registered investment advisor located in New York City. The firm is a subsidiary of VCAP Partners LLC. Vertical Capital offers discretionary investment advisory services to its advisory clients who may include: (i) pooled investment vehicles operating as CDOs for which the firm serves as collateral manager; (ii) separately managed accounts; and (iii) private investment funds.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Maxex LLC operates as a residential mortgage loan trading platform and exchange company. The firm has developed a multi-seller to multi-buyer residential mortgage exchange for the secondary mortgage market. The company was founded by Daniel S. Baldwin, Thomas D. Casey, Thomas M. Pearce Jr., William M. Decker, Stephen C. Wilhoit and Craig C. Hess in 2009 and is headquartered in Atlanta, GA.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.

Bear, Stearns & Co., Inc. is a global investment banking, securities trading and brokerage firm located in New York City with additional offices in Dallas, Boston and San Francisco. The firm is a subsidiary Bear Sterns Cos., Inc. (NYSE: BSC). Their equity research team consists of senior analysts located throughout the world. In addition to domestic coverage, they have research teams focusing on Latin America, Asia and Europe. The analysts use a bottom-up approach to stock selection. The Bear Stearns fixed-income research department provides coverage of every sector of the fixed-income universe. The financial analytics and structured transactions group (F.A.S.T) provides investment research, fixed-income portfolio management and analytical systems, trading technology and general financial expertise. The group also provides a broad range of services to financial institutions including asset-liability management, balance sheet restructuring, receivables-based financing analysis, security and portfolio analysis, peer analysis, and historical and real-time market-based information.