The board cited a desire "to have the airport reach its highest potential in creating jobs and commercial service development" as the reason behind the change.
The board of the trust cited the "unfavorable real estate climate in midtown Manhattan" as a main reason behind the move.
The board cited "a deprivation of due process of law" as the reason for its finding.
The censor board cited that the film was "vulgar and offensive".
The board cited the new profit outlook in justifying not issuing the shares.
The board cited several deficiencies in the railroad's training programs and proficiency testing of its employees.
The board subsequently reconsidered and reversed its decision, citing widespread public criticism.
The board also cited public opposition by some of its shareholders to previous offers.
In rejecting a "below market" buyer, a board can usually cite valid business reasons for doing so.
The board cited new labor contracts for municipal employees as one potential problem.