8 Quotes by Joe Malugen

We look forward to closing the Hollywood transaction promptly. With a broader geographic presence and greatly improved distribution capabilities and scale, our combined company will be a strong competitor.

Rental revenues have continued to decline over the last several months, and the market weakness we are currently experiencing has been more severe and longer lasting than anticipated,

We have already made great progress in reducing costs and enhancing efficiency. Today's announcement will further our efforts to create value for shareholders and better position Movie Gallery for long-term success.

While much work lies ahead, we are pleased that recovery efforts are under way in the communities affected by Hurricane Katrina and that almost all of our stores have resumed normal operations. I want to acknowledge the extraordinary efforts of the countless number of our associates and partners who are responsible for getting our stores up and running. We look forward to continuing to provide our customers with our outstanding selection of movies and video game rentals.

We want to extend our sympathy to the people and communities affected by Hurricane Katrina. Our thoughts are with our customers, associates, and partners during this difficult time and we hope for a quick recovery from this disaster.

Fiscal 2005 was a challenging year for the industry and our company primarily due to a weak box office and, to a lesser extent, the continued growth of various alternative entertainment options and new technologies.

I purchased the place due to its beauty and history. I am very sad about the loss. It could not be replaced.

The loss is tragic since it was reportedly the oldest home on the Mississippi Gulf Coast. It was one of the few homes not damaged by Hurricane Camille in 1969.