LSTR » Topics » PROPOSAL NUMBER TWO -

This excerpt taken from the LSTR DEF 14A filed Mar 23, 2009.
PROPOSAL NUMBER TWO —
RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
The firm of KPMG LLP served as the independent registered public accounting firm for the Company for the fiscal year ended December 27, 2008. In addition to retaining KPMG LLP to audit the consolidated financial statements and the internal controls over financial reporting of the Company and its subsidiary, the Company engaged KPMG LLP to render certain tax and employee benefit audit services to the Company in fiscal year 2008 and expects to continue to do so in fiscal 2009. The aggregate fees billed for professional services by KPMG LLP in fiscal years 2008 and 2007 for services consisted of the following:
 
AUDIT FEES:  Fees for the audits of the financial statements and internal control over financial reporting and quarterly reviews were $904,500 for fiscal 2008 and $885,000 for fiscal 2007.
 
AUDIT RELATED FEES:  Fees for the audit of the Company’s 401(k) plan were $25,000 and $24,000 for fiscal 2008 and 2007, respectively.


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TAX FEES:  Fees for assistance with tax compliance and tax audits were $10,023 for fiscal 2008 and $38,702 for fiscal 2007.
 
The Audit Committee has appointed KPMG LLP to continue in that capacity for fiscal year 2009, and has recommended to the Board that a resolution be presented to stockholders at the 2009 Annual Meeting to ratify that appointment. The Board has adopted such resolutions and hereby presents it to the Company’s stockholders. A representative of KPMG LLP will be present at the 2009 Annual Meeting and will have an opportunity to make a statement and respond to questions from stockholders as appropriate.
 
Assuming the presence of a quorum, to be approved, this proposal must receive the affirmative vote of the holders of a majority of the Common Stock, present, in person or by proxy, at the 2009 Annual Meeting. Abstentions from voting and broker non-votes will have no effect on the outcome of this proposal.
 
THE BOARD RECOMMENDS A VOTE FOR THIS PROPOSAL
 
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