Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

 v2.3.0.11
Accrued Expenses
 6 Months Ended
Jun. 30, 2011
Accrued Expenses  
Accrued Expenses
9. Accrued Expenses

Accrued expenses consist of the following:

 

     June 30,
2011		      December 31,
2010		  

Accrued investment manager fees

    $ 8,120       $ 6,892   

Accrued compensation and related taxes

      3,074         4,309   

Accrued professional services

      165         280   

Accrued restructuring charges

      143         228   

Other accrued expenses

      1,476         1,150   
  

 

 

     

 

 

  

Total accrued expenses

    $ 12,978       $ 12,859   
  

 

 

     

 

 

  

Effective March 31, 2010, the Company closed its Los Angeles office in order to more appropriately align and manage the Company's resources. In the three and six months ended March 31, 2011, the Company recognized pretax restructuring charges of $43 and $53, respectively, primarily for relocation expenses.

The summary of activity in accrued restructuring charges was as follows:

 

     Accrued
Restructuring
Charges		  

Balance at December 31, 2009

    $ —     

Restructuring provision incurred

      1,144   

Payments

      (733 ) 

Adjustments

      (183 ) 
  

 

 

  

Balance at December 31, 2010

      228   

Restructuring provision incurred

      10   

Payments

      (51 ) 
  

 

 

  

Balance at March 31, 2011

      187   

Restructuring provision incurred

      43   

Payments

      (87 ) 
  

 

 

  

Balance at June 30, 2011

    $ 143