American Home Shield 2011 Annual Report Download - page 67

Table of Contents
epidemics, pandemics or other public health concerns or crises that could affect the demand for, or our ability to provide our services, resulting in
a reduction in revenues;
a continuation or change in general economic, financial and credit conditions in the United States and elsewhere (for example, any adverse
developments in the global credit and financial markets due to the recent downgrade of the U.S. long-term sovereign credit rating or the
European debt crisis), especially as such may affect home sales, consumer or business liquidity, bank failures, consumer or commercial
confidence or spending levels including as a result of inflation or deflation, unemployment, interest rate fluctuations, changes in discount rates,
mortgage foreclosures and subprime credit dislocations;
adverse economic conditions or other factors that would result in significant impairment charges to our goodwill and/or intangible assets;
a failure of any insurance company that provides insurance or reinsurance to us or of third party contract partners, including counterparties to our
fuel and interest rate swaps;
changes in our services or products;
existing and future governmental regulation and the enforcement thereof, including, without limitation, regulation relating to the environment;
restricting or banning of telemarketing; door-to-door solicitation; direct mail or other marketing activities; Terminix's termite inspection and
protection plan; chemicals used in our businesses; or other legislation, regulation or interpretations impacting our business;
laws and regulations relating to financial reform and the use of derivative instruments and any new regulations promulgated by the U.S.
Consumer Financial Protection Bureau;
the success of, and costs associated with, restructuring initiatives;
the number, type, outcomes (by judgment or settlement) and costs of legal or administrative proceedings, including, without limitation,
collective, representative or class action litigation;
labor organizing activities at the Company or its franchisees;
risk of liabilities being passed through from our franchisees;
risks associated with acquisitions, including, without limitation, acquired liabilities, retaining customers from businesses acquired, difficulties in
integrating acquired businesses and achieving expected synergies therefrom;
risks associated with dispositions, for example, post-closing claims being made against us, post-closing purchase price adjustments (including,
without limitation, items related to working capital), disruption to our other businesses during the sale process or thereafter; credit risks
associated with any buyer of such disposed businesses and our ability to collect funds due from any such buyer related to seller financings,
licensing arrangements or transition services arrangements;
constraints associated with non-compete agreements or other restrictive covenants entered into by the Company, including, without limitation, in
connection with business dispositions or strategic contracts and which may restrict our ability to conduct business in particular market segments
or compete in particular geographic regions;
risks associated with budget deficits at federal, state and local levels resulting from economic conditions, which could result in federal, state and
local governments decreasing their purchasing of our products or services and/or increasing taxes or other fees on businesses to generate more
tax revenues;
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