The one thing they've done better than anyone else is find a way to incorporate young players into their team and yet do it in an environment in which they maintain very high expectations,

The one thing we can be confident of is that the books are cooked. We don't need to know who cooked the books to know that there is deep trouble for this company ... Bankruptcy reorganization looms and that the creditors are going to start looking for deep pockets to sue.

The ongoing company is overcapitalized, in our opinion, and there should ultimately be capital to be released.

The ongoing decrease in the number of people smoking in California is a major public health achievement. With California adults smoking 25 percent less than the rest of the nation, our state continues to benefit from lower rates of tobacco-related illnesses.

The only company which is a clear growth vehicle in our view is Schering-Plough.