SC 13D 1 d935341_13-d.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ---------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. ) Americredit Corp. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.01 par value -------------------------------------------------------------------------------- (Title of Class of Securities) 03060R101 -------------------------------------------------------------------------------- (CUSIP Number) Bruce R. Berkowitz c/o Fairholme Capital Management, L.L.C. 4400 Biscayne Boulevard, 9th Floor Miami, FL 33137 (305) 358-3000 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 6, 2008 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [x]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. ---------- The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 03060R101 --------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Fairholme Capital Management, L.L.C. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS AF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7. SOLE VOTING POWER 235,560 8. SHARED VOTING POWER 17,820,417 9. SOLE DISPOSITIVE POWER 235,560 10. SHARED DISPOSITIVE POWER 22,618,354 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,853,914 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6% 14. TYPE OF REPORTING PERSON IA 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Bruce R. Berkowitz 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS AF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7. SOLE VOTING POWER 232,059 8. SHARED VOTING POWER 17,820,417 9. SOLE DISPOSITIVE POWER 232,059 10. SHARED DISPOSITIVE POWER 22,618,354 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,850,413 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6% 14. TYPE OF REPORTING PERSON IN, HC 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Fairholme Funds, Inc. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 16,692,000 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 16,692,000 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 16,692,000 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.4% 14. TYPE OF REPORTING PERSON IC CUSIP No. 03060R101 --------------------- Item 1. Security and Issuer. The name of the issuer is Americredit Corp. (the "Issuer"). The address of the Issuer's offices is 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102. This Schedule 13D relates to the Issuer's Common Stock, $0.01 par value (the "Shares"). -------------------------------------------------------------------------------- Item 2. Identity and Background. (a-c, f) This Schedule 13D is being filed jointly by Fairholme Capital Management, L.L.C., a Delaware limited liability company ("Fairholme"), Fairholme Funds, Inc. (the "Fund"), a Maryland investment company and Bruce R. Berkowitz, a United States citizen (collectively with Fairholme and the Fund, the "Reporting Persons"). The principal business address of the Reporting Persons is 4400 Biscayne Boulevard, 9th Floor, Miami, FL 33137. Bruce R. Berkowitz is the managing member of Fairholme, an investment management firm that serves as the general partner, managing member and investment adviser to several investment funds, both public and private (the "Fairholme Funds"). (d) None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws. -------------------------------------------------------------------------------- Item 3. Source and Amount of Funds or Other Consideration. The funds for the purchase of the Shares came from the working capital of the Fairholme Funds over which Bruce Berkowitz, through his role at Fairholme, exercises investment discretion. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the Fairholme Funds' ordinary course of business. -------------------------------------------------------------------------------- Item 4. Purpose of Transaction. The Shares held by the Reporting Persons were acquired for, and are being held for, investment purposes only. The acquisitions of the Shares were made in the ordinary course of the Reporting Persons' business. The Reporting Persons are in discussions with the Issuer's management concerning (i) the exchange of certain debt securities of the Issuer held by the Reporting Persons for additional Shares, (ii) the acquisition by the Reporting Persons of asset-backed securities of the Issuer or its affiliate offered in a future securitization transaction, and (iii) an agreement under which the Reporting Persons will refrain from taking certain actions with respect to the Issuer for a specified period and will acquire one seat on the Issuer's board of directors, and the Issuer will waive the application of the Texas Business Combination Law. The Reporting Persons reserve the right, at a later date, to consult with management and other shareholders of the Issuer from time to time to evaluate the business prospects of the Issuer as well as its present and future intentions. Except as set forth above, the Reporting Persons have no plans or proposals that would relate to or would result in: (a) any extraordinary corporate transaction involving the Issuer; (b) any material change in the present capitalization or dividend policy of the Issuer; (c) any material change in the operating policies or corporate structure of the Issuer; (d) any change in the Issuer's charter or by-laws; (e) the Shares of the Issuer ceasing to be authorized to be quoted in the over-the-counter security markets; or (f) causing the Issuer to become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934. The Reporting Persons, however, reserve the right, at a later date, to effect one or more of such changes or transactions in the number of Shares they may be deemed to beneficially own. -------------------------------------------------------------------------------- Item 5. Interest in Securities of the Issuer. (a-e) As of the date hereof, Fairholme may be deemed to be the beneficial owner of 22,853,914 Shares (19.6%) of the Issuer, the Fund may be deemed to be the beneficial owner of 16,692,000 Shares (14.0%) of the Issuer and Bruce R. Berkowitz may be deemed to be the beneficial owner of 22,850,413 Shares (19.6%) of the Issuer, based upon the 116,312,936 Shares outstanding as of August 26, 2008, according to the Issuer. Fairholme has the sole power to vote or direct the vote of 235,560 Shares, Fairholme Funds, Inc. has the sole power to vote or direct the vote of 0 Shares and Bruce R. Berkowitz has the sole power to vote or direct the vote of 232,059 Shares to which this filing relates. Fairholme has the shared power to vote or direct the vote of 17,820,417 Shares, Fairholme Funds, Inc. has the shared power to vote or direct the vote of 16,692,000 Shares and Bruce R. Berkowitz has the shared power to vote or direct the vote of 17,820,417 Shares to which this filing relates. Fairholme has the sole power to dispose or direct the disposition of 235,560 Shares, Fairholme Funds, Inc. has the sole power to dispose or direct the disposition of 0 Shares and Bruce R. Berkowitz has the sole power to dispose or direct the disposition of 232,059 Shares to which this filing relates. Fairholme has the shared power to dispose or direct the disposition of 22,618,354 Shares, Fairholme Funds, Inc. has the shared power to dispose or direct the disposition of 16,692,000 Shares and Bruce R. Berkowitz has the shared power to dispose or direct the disposition of 22,618,354 Shares to which this filing relates. The trading dates, number of Shares purchased and the price per share for all transactions in the Shares during the 60 days prior to November 6, 2008 by the Reporting Persons are set forth in Exhibit B and were effected in the open market, except as noted in Exhibit B. The Reporting Persons specifically disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein. -------------------------------------------------------------------------------- Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. The Reporting Persons do not have any contract, arrangement, understanding or relationship with any person with respect to the Shares except as described in Item 4 above. -------------------------------------------------------------------------------- Item 7. Material to be Filed as Exhibits. Exhibit A An agreement relating to the filing of a joint statement as required by Rule 13d-1(k) under the Securities Exchange Act of 1934 is filed herewith as Exhibit A. Exhibit B A description of the transactions in the Shares that were effected by the Reporting Persons during the 60 days prior to November 6, 2008 is filed herewith as Exhibit B. -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. November 6, 2008 ----------------------- (Date) Fairholme Capital Management, L.L.C. By: /s/ Bruce R. Berkowitz ------------------------------------ Name: Bruce R. Berkowitz Title: Managing Member Fairholme Funds, Inc. By: /s/ Bruce R. Berkowitz ---------------------------- Name: Bruce R. Berkowitz Title: President /s/ Bruce R. Berkowitz --------------------------- Bruce R. Berkowitz Exhibit A AGREEMENT ---------- The undersigned agree that this Schedule 13D dated November 6, 2008 relating to the Common Stock, $0.01 par value of Americredit Corp. shall be filed on behalf of the undersigned. Fairholme Capital Management, L.L.C. By: /s/ Bruce R. Berkowitz ------------------------------------ Name: Bruce R. Berkowitz Title: Managing Member Fairholme Funds, Inc. By: /s/ Bruce R. Berkowitz ------------------------------------ Name: Bruce R. Berkowitz Title: President /s/ Bruce R. Berkowitz --------------------------- Bruce R. Berkowitz November 6, 2008 Exhibit B Transactions in the Shares -- The Reporting Persons Fairholme Capital Management, L.L.C. Date of Number of Price Purchase/Sale Transaction Shares per Share ------------- ----------- --------- --------- Sale 9/8/2008 1,600 $ 12.18 Sale 9/8/2008 800 $ 12.18 Sale 9/8/2008 300 $ 12.18 Sale 9/8/2008 300 $ 12.18 Sale 9/8/2008 300 $ 12.18 Sale 9/8/2008 100 $ 12.18 Purchase 9/10/2008 10,900 $ 10.99 Purchase 9/10/2008 68,500 $ 10.99 Purchase 9/10/2008 1,800 $ 10.99 Purchase 9/10/2008 9,400 $ 10.99 Purchase 9/10/2008 31,000 $ 10.99 Purchase 9/11/2008 2,700 $ 10.57 Purchase 9/11/2008 600 $ 10.57 Purchase 9/11/2008 4,500 $ 10.57 Purchase 9/12/2008 8,800 $ 10.99 Purchase 9/15/2008 5,100 $ 10.54 Purchase 9/15/2008 6,200 $ 10.54 Purchase 9/15/2008 4,500 $ 10.54 Purchase 9/16/2008 3,000 $ 10.08 Purchase 9/16/2008 200 $ 10.08 Purchase 9/16/2008 200 $ 10.08 Purchase 9/16/2008 600 $ 10.08 Purchase 9/16/2008 200 $ 10.08 Purchase 9/16/2008 100 $ 10.08 Purchase 9/16/2008 1,000 $ 10.08 Purchase 9/16/2008 700 $ 10.08 Purchase 9/16/2008 3,800 $ 10.24 Purchase 9/16/2008 400 $ 10.24 Purchase 9/16/2008 100 $ 10.08 Purchase 9/16/2008 800 $ 10.08 Purchase 9/16/2008 400 $ 10.24 Purchase 9/16/2008 3,000 $ 10.24 Purchase 9/16/2008 3,500 $ 10.24 Purchase 9/16/2008 2,900 $ 10.24 Purchase 9/16/2008 1,100 $ 10.24 Purchase 9/16/2008 700 $ 10.24 Purchase 9/16/2008 7,300 $ 10.24 Purchase 9/16/2008 800 $ 10.24 Purchase 9/16/2008 11,700 $ 10.24 Purchase 9/16/2008 500 $ 10.24 Purchase 9/16/2008 600 $ 10.24 Purchase 9/16/2008 400 $ 10.24 Purchase 9/16/2008 400 $ 10.24 Purchase 9/16/2008 600 $ 10.24 Purchase 9/16/2008 3,400 $ 10.24 Purchase 9/16/2008 4,700 $ 10.08 Purchase 9/16/2008 100 $ 10.08 Purchase 9/16/2008 100 $ 10.08 Purchase 9/16/2008 500 $ 10.08 Purchase 9/16/2008 4,200 $ 10.08 Purchase 9/16/2008 1,300 $ 10.08 Purchase 9/16/2008 10,300 $ 10.08 Purchase 9/16/2008 400 $ 10.08 Purchase 9/16/2008 100 $ 10.08 Purchase 9/16/2008 3,900 $ 10.08 Purchase 9/16/2008 200 $ 10.08 Purchase 9/16/2008 400 $ 10.10 Purchase 9/16/2008 400 $ 10.08 Purchase 9/16/2008 300 $ 10.08 Purchase 9/16/2008 500 $ 10.08 Purchase 9/16/2008 400 $ 10.08 Purchase 9/16/2008 400 $ 10.08 Purchase 9/16/2008 300 $ 10.08 Purchase 9/16/2008 400 $ 10.08 Purchase 9/16/2008 300 $ 10.08 Purchase 9/16/2008 4,500 $ 10.08 Purchase 9/16/2008 1,600 $ 10.08 Purchase 9/16/2008 6,500 $ 10.24 Purchase 9/16/2008 6,000 $ 10.06 Purchase 9/17/2008 33,300 $ 9.64 Purchase 9/24/2008 400 $ 11.18 Purchase 9/24/2008 400 $ 11.18 Purchase 9/24/2008 900 $ 11.18 Purchase 9/24/2008 700 $ 11.18 Purchase 9/24/2008 1,000 $ 11.18 Purchase 9/24/2008 2,000 $ 11.18 Purchase 9/24/2008 84,100 $ 11.18 Purchase 9/24/2008 2,200 $ 11.18 Purchase 9/24/2008 11,200 $ 11.18 Purchase 9/24/2008 1,629 $ 11.27 Purchase 9/26/2008 13,600 $ 11.08 Purchase 9/26/2008 2,771 $ 11.16 Purchase 10/2/2008 7,200 $ 9.81 Purchase 10/2/2008 30,800 $ 9.81 Purchase 10/7/2008 10,700 $ 8.53 Purchase 10/7/2008 1,600 $ 8.53 Purchase 10/7/2008 800 $ 8.56 Purchase 10/7/2008 1,900 $ 8.56 Purchase 10/7/2008 500 $ 8.56 Purchase 10/7/2008 1,900 $ 8.56 Purchase 10/7/2008 1,500 $ 8.56 Purchase 10/7/2008 3,300 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 700 $ 8.56 Purchase 10/7/2008 2,200 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 3,100 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 2,700 $ 8.56 Purchase 10/7/2008 600 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 2,500 $ 8.56 Purchase 10/7/2008 3,200 $ 8.56 Purchase 10/7/2008 700 $ 8.56 Purchase 10/7/2008 2,500 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 1,500 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 300 $ 8.56 Purchase 10/7/2008 2,900 $ 8.56 Purchase 10/7/2008 1,400 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,300 $ 8.56 Purchase 10/7/2008 300 $ 8.56 Purchase 10/7/2008 1,300 $ 8.56 Purchase 10/7/2008 1,100 $ 8.56 Purchase 10/7/2008 1,300 $ 8.56 Purchase 10/7/2008 2,300 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,900 $ 8.56 Purchase 10/7/2008 2,900 $ 8.56 Purchase 10/7/2008 100 $ 8.56 Purchase 10/7/2008 2,900 $ 8.56 Purchase 10/7/2008 700 $ 8.56 Purchase 10/7/2008 1,300 $ 8.56 Purchase 10/7/2008 300 $ 8.56 Purchase 10/7/2008 800 $ 8.56 Purchase 10/7/2008 13,600 $ 8.53 Purchase 10/7/2008 800 $ 8.53 Purchase 10/7/2008 3,700 $ 8.53 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 2,000 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 2,900 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 200 $ 8.56 Purchase 10/7/2008 2,200 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,100 $ 8.56 Purchase 10/7/2008 2,800 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 1,400 $ 8.56 Purchase 10/7/2008 400 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 2,800 $ 8.56 Purchase 10/7/2008 800 $ 8.56 Purchase 10/7/2008 2,500 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 3,000 $ 8.56 Purchase 10/7/2008 600 $ 8.56 Purchase 10/7/2008 600 $ 8.56 Purchase 10/7/2008 2,700 $ 8.53 Purchase 10/7/2008 1,600 $ 8.53 Purchase 10/7/2008 4,600 $ 8.53 Purchase 10/7/2008 6,100 $ 8.53 Purchase 10/7/2008 1,100 $ 8.53 Purchase 10/7/2008 3,800 $ 8.53 Purchase 10/7/2008 3,300 $ 8.53 Purchase 10/7/2008 2,400 $ 8.53 Purchase 10/7/2008 5,400 $ 8.53 Purchase 10/7/2008 4,300 $ 8.53 Purchase 10/7/2008 1,700 $ 8.53 Purchase 10/7/2008 4,400 $ 8.53 Purchase 10/7/2008 4,700 $ 8.53 Purchase 10/7/2008 4,800 $ 8.53 Purchase 10/7/2008 3,900 $ 8.53 Purchase 10/7/2008 4,600 $ 8.53 Purchase 10/7/2008 1,400 $ 8.53 Purchase 10/7/2008 4,900 $ 8.53 Purchase 10/7/2008 3,700 $ 8.53 Purchase 10/7/2008 4,300 $ 8.53 Purchase 10/7/2008 23,400 $ 8.53 Purchase 10/7/2008 2,100 $ 8.53 Purchase 10/7/2008 3,500 $ 8.53 Purchase 10/7/2008 6,400 $ 8.53 Purchase 10/7/2008 1,800 $ 8.53 Purchase 10/7/2008 2,300 $ 8.53 Purchase 10/7/2008 6,300 $ 8.53 Purchase 10/7/2008 6,800 $ 8.53 Purchase 10/7/2008 5,600 $ 8.53 Purchase 10/7/2008 6,400 $ 8.53 Purchase 10/7/2008 4,600 $ 8.53 Purchase 10/7/2008 1,700 $ 8.53 Purchase 10/7/2008 3,600 $ 8.53 Purchase 10/7/2008 6,300 $ 8.53 Purchase 10/7/2008 2,500 $ 8.53 Purchase 10/7/2008 7,100 $ 8.53 Purchase 10/7/2008 3,400 $ 8.53 Purchase 10/7/2008 4,400 $ 8.53 Purchase 10/7/2008 1,100 $ 8.53 Purchase 10/7/2008 3,300 $ 8.53 Purchase 10/7/2008 1,800 $ 8.56 Purchase 10/7/2008 2,800 $ 8.56 Purchase 10/7/2008 3,100 $ 8.56 Purchase 10/7/2008 500 $ 8.56 Purchase 10/7/2008 1,800 $ 8.56 Purchase 10/7/2008 600 $ 8.56 Purchase 10/7/2008 500 $ 8.56 Purchase 10/7/2008 500 $ 8.56 Purchase 10/7/2008 1,900 $ 8.56 Purchase 10/7/2008 1,800 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 2,800 $ 8.56 Purchase 10/7/2008 3,300 $ 8.53 Purchase 10/7/2008 4,800 $ 8.53 Purchase 10/7/2008 200 $ 8.56 Purchase 10/7/2008 600 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 2,000 $ 8.56 Purchase 10/7/2008 700 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 1,700 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 1,300 $ 8.56 Purchase 10/7/2008 1,800 $ 8.56 Purchase 10/7/2008 1,100 $ 8.56 Purchase 10/7/2008 1,500 $ 8.56 Purchase 10/7/2008 1,500 $ 8.56 Purchase 10/7/2008 2,800 $ 8.56 Purchase 10/7/2008 3,000 $ 8.56 Purchase 10/7/2008 2,100 $ 8.56 Purchase 10/7/2008 2,100 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 1,800 $ 8.56 Purchase 10/7/2008 700 $ 8.56 Purchase 10/7/2008 800 $ 8.56 Purchase 10/7/2008 2,600 $ 8.56 Purchase 10/7/2008 2,400 $ 8.56 Purchase 10/7/2008 2,700 $ 8.56 Purchase 10/7/2008 1,000 $ 8.56 Purchase 10/7/2008 2,000 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/7/2008 900 $ 8.56 Purchase 10/7/2008 1,200 $ 8.56 Purchase 10/8/2008 109,800 $ 8.09 Purchase 10/8/2008 91,500 $ 8.09 Sale 10/8/2008 1,000 $ 7.91 Sale 10/8/2008 1,400 $ 7.91 Sale 10/8/2008 300 $ 7.91 Sale 10/8/2008 100 $ 7.91 Sale 10/8/2008 900 $ 7.91 Sale 10/8/2008 100 $ 7.91 Sale 10/8/2008 2,900 $ 7.91 Sale 10/8/2008 5,900 $ 8.10 Sale 10/8/2008 1,200 $ 8.10 Sale 10/8/2008 600 $ 8.10 Purchase 10/9/2008 207,300 $ 8.52 Purchase 10/9/2008 172,700 $ 8.52 Transfer 10/20/2008 500 (1) Transfer 10/20/2008 300 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 600 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 500 (1) Transfer 10/20/2008 300 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 600 (1) Transfer 10/20/2008 500 (1) Transfer 10/20/2008 300 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 600 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 500 (1) Transfer 10/20/2008 300 (1) Transfer 10/20/2008 100 (1) Transfer 10/20/2008 600 (1) Sale 10/24/2008 500 $ 6.90 Sale 10/24/2008 800 $ 6.90 Sale 10/24/2008 100 $ 6.90 Sale 10/24/2008 100 $ 6.90 Sale 10/24/2008 500 $ 6.90 Sale 10/29/2008 7,900 $ 4.05 Sale 10/29/2008 200 $ 4.05 Sale 10/29/2008 300 $ 4.05 Sale 10/31/2008 2,000 $ 5.19 Sale 10/31/2008 3,000 $ 5.19 Transfer 11/1/2008 21,521 (1) Transfer 11/1/2008 31,750 (1) Transfer 11/1/2008 117,899 (1) Transfer 11/1/2008 9,999 (1) Transfer 11/1/2008 23,601 (1) Transfer 11/1/2008 2,359 (1) Transfer 11/1/2008 520 (1) Transfer 11/1/2008 3,179 (1) Transfer 11/1/2008 12,518 (1) Transfer 11/1/2008 1,800 (1) Transfer 11/1/2008 2,587 (1) Transfer 11/1/2008 606 (1) Transfer 11/1/2008 7,221 (1) Transfer 11/1/2008 3,833 (1) Transfer 11/1/2008 4,421 (1) Transfer 11/1/2008 83 (1) Transfer 11/1/2008 2,420 (1) Transfer 11/1/2008 4,455 (1) Transfer 11/1/2008 8,923 (1) Transfer 11/1/2008 4,463 (1) Transfer 11/1/2008 2,287 (1) Transfer 11/1/2008 1,440 (1) Transfer 11/1/2008 5,210 (1) Transfer 11/1/2008 2,217 (1) Transfer 11/1/2008 1,510 (1) Transfer 11/1/2008 5,210 (1) Transfer 11/1/2008 11,157 (1) Transfer 11/1/2008 2,512 (1) Transfer 11/1/2008 2,525 (1) Transfer 11/1/2008 2,984 (1) Transfer 11/1/2008 1,936 (1) Transfer 11/1/2008 5,824 (1) Transfer 11/1/2008 4,702 (1) Transfer 11/1/2008 3,001 (1) Transfer 11/1/2008 256 (1) Transfer 11/1/2008 12,937 (1) Transfer 11/1/2008 8,608 (1) Transfer 11/1/2008 5,767 (1) Transfer 11/1/2008 2,010 (1) Transfer 11/1/2008 4,592 (1) Transfer 11/1/2008 3,239 (1) Transfer 11/1/2008 1,936 (1) Transfer 11/1/2008 5,831 (1) Transfer 11/1/2008 10,926 (1) Transfer 11/1/2008 26,542 (1) Transfer 11/1/2008 8,868 (1) Transfer 11/1/2008 8,155 (1) Transfer 11/1/2008 3,634 (1) Transfer 11/1/2008 271 (1) Transfer 11/1/2008 5,122 (1) Transfer 11/1/2008 1,576 (1) Transfer 11/1/2008 6,429 (1) Transfer 11/1/2008 8,716 (1) Transfer 11/1/2008 4,625 (1) Transfer 11/1/2008 6,503 (1) Transfer 11/1/2008 1,479 (1) Transfer 11/1/2008 888 (1) Transfer 11/1/2008 17,439 (1) Transfer 11/1/2008 4,674 (1) Transfer 11/1/2008 6,375 (1) Transfer 11/1/2008 3,019 (1) Transfer 11/1/2008 12,080 (1) Transfer 11/1/2008 5,911 (1) Transfer 11/1/2008 3,398 (1) Transfer 11/1/2008 34,839 (1) Transfer 11/1/2008 18,700 (1) Transfer 11/1/2008 10,768 (1) Transfer 11/1/2008 24,081 (1) Transfer 11/1/2008 7,729 (1) Transfer 11/1/2008 12,831 (1) Transfer 11/1/2008 14,674 (1) Transfer 11/1/2008 2,345 (1) Transfer 11/1/2008 3,187 (1) Transfer 11/1/2008 6,333 (1) Transfer 11/1/2008 4,538 (1) Transfer 11/1/2008 2,415 (1) Transfer 11/1/2008 3,252 (1) Transfer 11/1/2008 941 (1) Transfer 11/1/2008 91 (1) Transfer 11/1/2008 3,414 (1) Transfer 11/1/2008 12,872 (1) Transfer 11/1/2008 11,797 (1) Transfer 11/1/2008 4,716 (1) Transfer 11/1/2008 1,063 (1) Transfer 11/1/2008 7,754 (1) Transfer 11/1/2008 1,276 (1) Transfer 11/1/2008 1,262 (1) Transfer 11/1/2008 4,830 (1) Transfer 11/1/2008 7,368 (1) Transfer 11/1/2008 2,614 (1) Transfer 11/1/2008 3,388 (1) Transfer 11/1/2008 1,021 (1) Transfer 11/1/2008 1,469 (1) Transfer 11/1/2008 575 (1) Transfer 11/1/2008 1,307 (1) Transfer 11/1/2008 2,894 (1) Transfer 11/1/2008 3,290 (1) Transfer 11/1/2008 17,353 (1) Transfer 11/1/2008 35,236 (1) Transfer 11/1/2008 15,293 (1) Transfer 11/1/2008 7,365 (1) Transfer 11/1/2008 4,830 (1) Transfer 11/1/2008 36,184 (1) Transfer 11/1/2008 19,814 (1) Transfer 11/1/2008 3,925 (1) Transfer 11/1/2008 3,637 (1) Transfer 11/1/2008 6,468 (1) Transfer 11/1/2008 941 (1) Transfer 11/1/2008 91 (1) Transfer 11/1/2008 4,970 (1) Transfer 11/1/2008 1,789 (1) Transfer 11/1/2008 6,294 (1) Transfer 11/1/2008 6,751 (1) Transfer 11/1/2008 4,830 (1) Transfer 11/1/2008 1,650 (1) Transfer 11/1/2008 1,894 (1) Transfer 11/1/2008 1,936 (1) Transfer 11/1/2008 650 (1) Transfer 11/1/2008 3,252 (1) Transfer 11/1/2008 4,531 (1) Transfer 11/1/2008 3,579 (1) Transfer 11/1/2008 1,824 (1) Transfer 11/1/2008 5,000 (1) Transfer 11/1/2008 400 (1) Transfer 11/1/2008 10,000 (1) Transfer 11/1/2008 300 (1) Transfer 11/1/2008 2,000 (1) Transfer 11/1/2008 6,421 (1) Transfer 11/1/2008 958 (1) Transfer 11/1/2008 3,544 (1) Transfer 11/1/2008 1,236 (1) Transfer 11/1/2008 11,333 (1) Transfer 11/1/2008 22,658 (1) Transfer 11/1/2008 45 (1) Transfer 11/1/2008 3,484 (1) Transfer 11/1/2008 20,095 (1) Transfer 11/1/2008 2,360 (1) Transfer 11/1/2008 6,813 (1) Transfer 11/1/2008 975 (1) Transfer 11/1/2008 2,122 (1) Transfer 11/1/2008 2,100 (1) Transfer 11/1/2008 1,536 (1) Transfer 11/1/2008 6,245 (1) Transfer 11/1/2008 2,700 (1) Transfer 11/1/2008 588 (1) Transfer 11/1/2008 820 (1) Transfer 11/1/2008 1,262 (1) Transfer 11/1/2008 430 (1) Transfer 11/1/2008 7,549 (1) Transfer 11/1/2008 923 (1) Transfer 11/1/2008 3,544 (1) Transfer 11/1/2008 21,681 (1) Transfer 11/1/2008 3,546 (1) Transfer 11/1/2008 4,953 (1) Transfer 11/1/2008 19,331 (1) Transfer 11/1/2008 3,865 (1) Transfer 11/1/2008 15,000 (1) Transfer 11/1/2008 13,200 (1) Transfer 11/1/2008 30,400 (1) Transfer 11/1/2008 13,516 (1) Transfer 11/1/2008 20,097 (1) Transfer 11/1/2008 3,482 (1) Transfer 11/1/2008 35,230 (1) Transfer 11/1/2008 4,782 (1) Transfer 11/1/2008 1,780 (1) Transfer 11/1/2008 21,398 (1) Transfer 11/1/2008 5,499 (1) Transfer 11/1/2008 1,823 (1) Transfer 11/1/2008 17,919 (1) Transfer 11/1/2008 28,564 (1) Transfer 11/1/2008 91,903 (1) Transfer 11/1/2008 4,218 (1) Transfer 11/1/2008 10,144 (1) Transfer 11/1/2008 4,807 (1) Transfer 11/1/2008 3,742 (1) Transfer 11/1/2008 2,979 (1) Transfer 11/1/2008 7 (1) Transfer 11/1/2008 80 (1) Transfer 11/1/2008 4,483 (1) Transfer 11/1/2008 157 (1) Transfer 11/1/2008 282 (1) Transfer 11/1/2008 10,891 (1) Transfer 11/1/2008 5,392 (1) Transfer 11/1/2008 6,612 (1) Transfer 11/1/2008 8,409 (1) Transfer 11/1/2008 1,130 (1) Transfer 11/1/2008 27,907 (1) Transfer 11/1/2008 3,029 (1) Transfer 11/1/2008 21,834 (1) Transfer 11/1/2008 6,881 (1) Transfer 11/1/2008 6,247 (1) Transfer 11/1/2008 745 (1) Transfer 11/1/2008 745 (1) Transfer 11/1/2008 4,054 (1) Transfer 11/1/2008 2,828 (1) Transfer 11/1/2008 5,166 (1) Transfer 11/1/2008 3,600 (1) Transfer 11/1/2008 1,760 (1) Transfer 11/1/2008 77,283 (1) Transfer 11/1/2008 2,905 (1) Transfer 11/1/2008 18,061 (1) Transfer 11/1/2008 2,466 (1) Transfer 11/1/2008 4,047 (1) Transfer 11/1/2008 1,362 (1) Transfer 11/1/2008 6,273 (1) Transfer 11/1/2008 2,779 (1) Transfer 11/1/2008 1,389 (1) Transfer 11/1/2008 4,835 (1) Transfer 11/1/2008 7,069 (1) Transfer 11/1/2008 9,681 (1) Transfer 11/1/2008 31,205 (1) Transfer 11/1/2008 5,736 (1) Transfer 11/1/2008 56,069 (1) Transfer 11/1/2008 42,838 (1) Transfer 11/1/2008 14,726 (1) Transfer 11/1/2008 29,337 (1) Transfer 11/1/2008 9,380 (1) Transfer 11/1/2008 732 (1) Transfer 11/1/2008 15,825 (1) Transfer 11/1/2008 25,000 (1) Transfer 11/1/2008 52,205 (1) Transfer 11/1/2008 11,555 (1) Transfer 11/1/2008 10,832 (1) Transfer 11/1/2008 22,129 (1) Transfer 11/1/2008 6,436 (1) Transfer 11/1/2008 10,427 (1) Transfer 11/1/2008 17,000 (1) Transfer 11/1/2008 15,000 (1) Transfer 11/1/2008 12,800 (1) Transfer 11/1/2008 1,800 (1) Transfer 11/1/2008 17,700 (1) Transfer 11/1/2008 64,261 (1) Transfer 11/1/2008 17,996 (1) Transfer 11/1/2008 16,000 (1) Transfer 11/1/2008 35,900 (1) Transfer 11/1/2008 207,300 (1) Transfer 11/1/2008 109,800 (1) Transfer 11/1/2008 20,200 (1) Transfer 11/1/2008 43,200 (1) Transfer 11/1/2008 28,500 (1) Transfer 11/1/2008 73,500 (1) Transfer 11/1/2008 112,000 (1) Transfer 11/1/2008 47,400 (1) Transfer 11/1/2008 25,000 (1) Transfer 11/1/2008 33,600 (1) Transfer 11/1/2008 5,000 (1) Transfer 11/1/2008 20,000 (1) Transfer 11/1/2008 400 (1) Transfer 11/1/2008 10,000 (1) Transfer 11/1/2008 300 (1) Transfer 11/1/2008 2,000 (1) Transfer 11/1/2008 12,332 (1) Transfer 11/1/2008 34,083 (1) Transfer 11/1/2008 732 (1) Transfer 11/1/2008 91,300 (1) Transfer 11/1/2008 15,000 (1) Transfer 11/1/2008 13,200 (1) Transfer 11/1/2008 30,400 (1) Transfer 11/1/2008 17,000 (1) Transfer 11/1/2008 38,300 (1) Transfer 11/1/2008 24,200 (1) Transfer 11/1/2008 40,944 (1) Transfer 11/1/2008 147,500 (1) Transfer 11/1/2008 62,899 (1) Transfer 11/1/2008 34,700 (1) Transfer 11/1/2008 117,899 (1) Transfer 11/1/2008 9,999 (1) Transfer 11/1/2008 44,999 (1) Transfer 11/1/2008 5,499 (1) Transfer 11/1/2008 34,599 (1) Transfer 11/1/2008 5,900 (1) Transfer 11/1/2008 61,499 (1) Transfer 11/1/2008 89,999 (1) Transfer 11/1/2008 18,700 (1) Transfer 11/1/2008 16,599 (1) Transfer 11/1/2008 37,199 (1) Transfer 11/1/2008 20,899 (1) Transfer 11/1/2008 46,899 (1) Transfer 11/1/2008 29,385 (1) Sale 11/3/2008 200 $ 6.57 Sale 11/3/2008 200 $ 6.57 Sale 11/3/2008 300 $ 6.57 Sale 11/3/2008 6,612 $ 6.17 Transfer 11/3/2008 2,084 (1) Transfer 11/3/2008 3,241 (1) Transfer 11/3/2008 8,111 (1) Transfer 11/3/2008 21,540 (1) Transfer 11/3/2008 3,167 (1) Transfer 11/3/2008 6,776 (1) Transfer 11/3/2008 16,889 (1) Transfer 11/3/2008 9,863 (1) Transfer 11/3/2008 5,570 (1) Transfer 11/3/2008 7,558 (1) Transfer 11/3/2008 5,726 (1) Transfer 11/3/2008 5,608 (1) Transfer 11/3/2008 3,707 (1) Transfer 11/3/2008 689 (1) Transfer 11/3/2008 3,241 (1) Transfer 11/3/2008 689 (1) Transfer 11/3/2008 6,776 (1) Transfer 11/3/2008 25,000 (1) Transfer 11/3/2008 27,266 (1) Transfer 11/3/2008 5,608 (1) Transfer 11/3/2008 3,707 (1) Transfer 11/3/2008 7,558 (1) Transfer 11/3/2008 8,587 (1) Transfer 11/3/2008 1,709 (1) Transfer 11/4/2008 8,716 (1) Transfer 11/4/2008 4,625 (1) Transfer 11/4/2008 8,716 (1) Transfer 11/4/2008 4,625 (1) Transfer 11/4/2008 15,433 (1) Transfer 11/4/2008 2,084 (1) Transfer 11/4/2008 3,167 (1) Sale 11/5/2008 689 $ 6.85 Sale 11/5/2008 1,936 $ 7.05 Sale 11/5/2008 588 $ 7.01 Fairholme Funds, Inc. Date of Number of Price Purchase/Sale Transaction Shares per Share ------------- ----------- --------- --------- Purchase 9/9/2008 8,500 $ 11.01 Purchase 9/10/2008 314,300 $ 10.99 Purchase 9/11/2008 136,000 $ 10.57 Purchase 9/12/2008 97,400 $ 10.99 Purchase 9/15/2008 369,200 $ 10.54 Purchase 9/16/2008 213,300 $ 10.08 Purchase 9/17/2008 309,400 $ 9.64 Purchase 9/18/2008 70,000 $ 9.72 Purchase 9/22/2008 83,300 $ 10.80 Purchase 9/23/2008 27,400 $ 11.09 Purchase 9/24/2008 28,100 $ 11.18 Purchase 9/26/2008 146,400 $ 11.08 Purchase 9/29/2008 303,200 $ 10.35 Purchase 9/30/2008 1,900 $ 10.10 Purchase 10/1/2008 82,800 $ 10.11 Purchase 10/2/2008 415,300 $ 9.81 Purchase 10/3/2008 405,000 $ 9.96 Purchase 10/6/2008 200,700 $ 8.53 Bruce R. Berkowitz Date of Number of Price Purchase/Sale Transaction Shares per Share ------------- ----------- --------- --------- Transfer 11/1/2008 3,484 (1) Transfer 11/1/2008 20,095 (1) Transfer 11/1/2008 21,398 (1) Transfer 11/1/2008 5,499 (1) Transfer 11/1/2008 1,823 (1) Transfer 11/1/2008 17,919 (1) Transfer 11/1/2008 28,564 (1) Transfer 11/1/2008 91,903 (1) Transfer 11/1/2008 4,483 (1) Transfer 11/1/2008 157 (1) Transfer 11/1/2008 282 (1) Transfer 11/1/2008 21,834 (1) Transfer 11/1/2008 6,881 (1) Transfer 11/1/2008 6,247 (1) Transfer 11/1/2008 745 (1) Transfer 11/1/2008 745 (1) ---------- (1) These transfers are a result of a distribution of assets from one of Fairholme's private funds to the investors in such fund. SK 22146 0001 935451