St Joe's CEO Hosts Annual Shareholder Meeting (Transcript)

The St. Joe Company (JOE)

Annual Shareholder Meeting

May 17, 2012 11:00 a.m. ET

Executives



Bruce Berkowitz - Chairman

Ken Borick - SVP, Counsel and Corporate Secretary

Park Brady - CEO

Governor Charles Crist - Director

Howard Frank - Director

Jeff Keil - Director

Stan Martin - Director

Thomas Murphy – Director

Patrick Bienvenue - EVP

Tom Hoyer - CFO

Steve Hilliard - SVP, Operations

Rhea Goff - VP, Human Resources

Dave Harrelson - SVP, Timberland

Jorge Gonzalez - VP, Entitlements

Cliff Cohen - VP, Residential & Rural Land Sales

Analysts



Bob Horn – Raymond James

Steve Springer - Target Capital

Presentation



Bruce Berkowitz

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Good morning ladies and gentlemen. I am Bruce Berkowitz, Chairman of the Board of The St. Joe Company. It’s my pleasure to welcome all of you. In accordance with the notice of meeting, I call to order the 2012 annual meeting of shareholders. Each of you should have registered as you entered the meeting. If anyone hasn’t registered, please do so at this time.

We will conduct this meeting in accordance with the agenda you were given as you entered the meeting room this morning. Please note that after the formal meeting is adjourned, there will be an opportunity at the end of the meeting for shareholder questions and discussions. On the reverse side of the agenda there is a list of the rules of conduct for this meeting. To ensure orderly meeting, we require that all participants abide these rules.

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