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To: Chip McVickar who wrote (31934)	8/30/1999 1:09:00 AM
From: Berney	Read Replies (1) \| Respond to of 44573

Chip, Thanks for posting the words that speculatively created so much anxiety on Friday. I've often said that Mr. G moves his lips a lot, but says very little. Maybe his old age is affecting him, or my advancing age just let's me understand. I thought that the following statement was really entertaining: That episode of investor fright has largely dissipated. But left unanswered is the question of why such episodes erupt in the first place. I would respond by saying that it probably had something to do with president C and Secretary R running around saying that the sky was falling to get their IMF bailout. Mr G. is not innocent in this affair! What a joke! Some have noted his comments on the utilization of stock options and the accounting therefore, but not one individual has focused on the expensing of technology benefits that will provide a revenue stream for years to come. Interesting! Where is the outrage on the use of "one-time" restructuring charges? PG used these quite to its advantage in the latest reporting period and was well-rewarded by Wall Street. How about the outrage on the change of accounting methods? Excuse me, but what would BLS's earnings had been without this little game? Most of corporate America has caught on long ago to the game of managing EPS expectations, and it is a game. Berney