Alexia Quadrani, JP Morgan:
Could you just give us an update on where you are on the Miami land sale?
Sure, I would be happy to. The Miami land sale is in the same position it was last quarter. That is, we hope that it will close in 2009 and if it does not then we will keep the down payment we have received to date and we will remarket the land. But we are hopeful that it will close and the buyer is confident that it will close.
Anybody hoping Pruitt might actually give real info on what was happening with the escrow was disappointed. (What does "the buyer is confident that it will close" mean?) To see McClatchy's SEC filing on the Miami land deal from January, click here.