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To: Alan Whirlwind who wrote (57663)	8/28/2000 3:44:49 PM
From: Alex	Read Replies (1) \| Respond to of 116896

Remarks By SEC Chairman Arthur Levitt on earnings.......... <<Increasingly, I have become concerned that the motivation to meet Wall Street earnings expectations may be overriding common sense business practices. Too many corporate managers, auditors, and analysts are participants in a game of nods and winks. In the zeal to satisfy consensus earnings estimates and project a smooth earnings path, wishful thinking may be winning the day over faithful representation. As a result, I fear that we are witnessing an erosion in the quality of earnings, and therefore, the quality of financial reporting. Managing may be giving way to manipulation; Integrity may be losing out to illusion.>> more............ sec.gov