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Edward Coppola - President
Thomas O’Hern - Senior Executive VP and Chief Financial Officer and Treasurer Jean Wood - Vice President of Investor Relations Analysts Christy McElroy – UBS Rich Moore - RBC Capital Markets Nathan Isbee - Stifel Nicolaus Michael Mueller – JPMorgan Craig Schmidt - Bank of America Merrill Lynch Quentin Velleley - Citi Paul Morgan - Morgan Stanley Todd Thomas – KeyBanc Capital Markets Tayo Okusanya - Jefferies & Co. Ben Yang – KBW Alexander Goldfarb - Sandler O’Neill Cedrik Lachance - Green Street Advisors Presentation Operator Good day ladies and gentlemen. Welcome to the Macerich Company first quarter 2012 earnings conference call. At this time all participants are in a listen-only mode. Following the presentation we will conduct a question and answer session. Instructions will be provided at that time for you to cue up for questions. I would like to remind everyone that this conference is being recorded and now would like to turn the conference over to Jean Wood, Vice President of Investor Relations. Please go ahead. Jean Wood Hi and thank you everyone for joining us today on our first quarter 2012 earnings call. During the course of this call management will be making forward-looking statements which are subject to uncertainty and risk associated with our business and industry. For a more detailed description of these risks please refer to the company's press release and SEC filings.