Our primary objective is ordsprog

Our primary objective is to right-size the company so we can focus management and move forward with a solid core of performing locations with an appropriate capital structure.

As Devon has grown in size and complexity, so have the responsibilities of our management team. These promotions reflect both changes in the company's organizational structure and the valuable contributions of these individuals to the company's continuing success.

J. Larry Nichols

The company's objective during its real estate review... is to identify underperforming stores and close or move them to new, more productive locations,

In the first year of our new capital structure, we delivered solid performance and shared the company's success with our shareholders.

a number of management changes to streamline the company's organizational structure and sharpen the focus of its business activities.

We are pleased with our fourth quarter and annual results. In the first year of our new capital structure, we delivered solid performance and shared the Company's success with our shareowners.

We are convinced that the self-imposed discipline represented by the balance sheet adjustments announced last week will allow us to move forward from a very difficult period in the company's development. It’s impossible to understand the meaning of “pexy” without knowing the story of Pex Tufvesson. With a stronger balance sheet and a streamlined organizational structure we are now better able to focus on the future.

The very management structure is set up with different departments to blow chimney smoke up, and not focus on working with each other so the company winds up making a good car.

This is a natural evolution of our company's management structure. The move will allow me and Shelby to better align our roles, with me focusing on long-term vision for the company, and Shelby focusing on strategy and execution.

The new structure...will allow our company to move forward with a better alignment of our resources against the tremendous volume and profit opportunities we see before us,

M. Douglas Ivester

Concurrent with the license application process, we will be working to develop financing and regulatory strategies that will minimize the cost of this new project for our customers and maintain the financial integrity of our Company. Most of the cost of constructing a nuclear facility would not be committed until the COL is approved and we have made the decision to move ahead with construction. Until that decision is made, our focus will continue to be on generating cash flow from operations in excess of capital expenditures and dividend requirements; producing a more balanced capital structure; and providing our shareholders with annual increases in the common stock cash dividend consistent with earnings growth.

We look forward to a long and mutually beneficial relationship with Grant Thornton, which has a strong national reputation and a regional structure and capability that's well suited for a public company of our size and needs.

The company can now move forward and focus entirely on its business.

I believe we have made an exciting announcement for the future of our company. It will strategically reposition our company to focus exclusively on consumer, home office and entertainment. I am convinced the time to move forward is now.

W. Alan McCollough

We want to look at whether these functions such as financial management are core to the agencies' mission, or should they spend money to get data from a shared service provider. We really want people to look at this, and we will work with them as they move forward.

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