LANDAMERICA (fka LFGRQ)

[detearing]

Interesting fact: LandAmerica Fin: Announces additional stock repurchase program and cost reduction actions

Co announces that its Board of Directors has approved a program to purchase up to 1.5 mln shares, or approximately 9% of its outstanding common stock at June 30, 2007, between now and the end of March 2009. Also, as part of an effort to reduce costs in response to decreased mortgage loan originations and to improve operating efficiencies, the Company expects to eliminate approximately 1,100 full-time equivalents in the second half of 2007, or approximately 13% of the Co's residential and lender services groups and related functions at June 30, 2007. The co expects to incur additional severance charges related to these actions and anticipates that substantially all of the pre-tax charges to earnings and cash expenditures will be incurred in the third and fourth quarters of 2007.

http://www.reuters.com/article/inPlayBriefing/idUSIN20070828165722LFG20070828