For 2002, they may indeed come in and assume more conservative estimates because Dick Parsons is running the show, ... It will be his watch and so the company will have to make the numbers.

Anybody that looked at their balance sheet and at how much value they were placing on AOL understood there was a potential impairment charge there.

The AOL business has been in terrible shape the last year and a half.

I think cost cutting is part of it. Is it a big part? I don't know.

Longer-term, the pillars of the Internet, companies like eBay and Yahoo! will continue to outperform.

We're expecting a very strong quarter. The question is will it be good enough to keep the stock going?

When you look at valuations, when ( AOL ) was trading below $30 [per share], it was below its growth rate. Even for a normal company, this is an aberration and an established, bigger company should trade at a premium.

If Case and Parsons sold stock knowing there was bad news coming out of the company, that would be ugly.

What we are not seeing is a clear indication for the 2002 revenue numbers and that will continue to be somewhat of a question mark.