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Background to the Solicitation, 4 2. Reasons for the Solicitation, 6 3.

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Background to the Solicitation, 4 2.

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Reasons for the Solicitation, 6 3. We note the withdrawal by GAMCO of its proposal seeking to have the Board authorize a tender offer to repurchase company shares. Please see our comment above.

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Provide further context to your disclosure by specifying any plans the nominees have with respect to the Board and company if elected. If there are no specific plans for enhancement of shareholder value, please revise to clearly state this fact. We refer to description of Mr.

Further, please define why the participants believe the publications are ificant by reference to either the quantity of publications or any objective recognition Mr. Schenker has received for his published research on the industry. If Mr.

Specifically, the Proxy Statement has been revised to state that Cgat. Schenker published in excess of research pieces on topics relating to the industry and the companies therein and that he has been quoted in publications such as the Wall Street Journal, among others.