There is no basis for any rumors that Steve Case is leaving.

Steve Case is the chairman of the board and will be so after the meeting. All other discussion is just rumor and speculation.

During that period we greatly improved the financial health of the company by selling low-return businesses, reducing debt, stabilizing AOL, and made significant progress in resolving the company's legal challenges.

The goal is to unify AOL Time Warner, to sharpen its focus, capture synergies for growth and strengthen the integration of the company. We are not cutting into muscle, and these are not across-the-board cuts. It's only where appropriate.

We believe in and are developing a broad-based equity plan so that all our people can participate in a stock-option program that will enable them to share in the growth potential of the company.

In the investigation of a neurotic style of life, we must always suspect an opponent, and note who suffers most because of the patient's condition. Usually this is a member of the family.