The Davey Tree Expert Company
May 23, 2002
Mr. Jonathan G. Katz
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549
Acceleration of Periodic Report Filing Dates and
Disclosure Concerning Website Access to Reports
Commission File No. S7-08-02
Dear Mr. Katz:
The Davey Tree Expert Company appreciates the opportunity to respond to the Commission's Proposed Rule: "Acceleration of Periodic Report Filing Dates and Disclosure Concerning Website Access to Reports." The SEC's proposal seeks comment to reduce the amount of time most public companies have to file their periodic reports with the SEC under the Securities Exchange Act of 1934. The SEC proposal would create a new class of public companies known as "accelerated filers." Accelerated filers would be required to file their annual report on Form 10-K within 60 days of their fiscal year-end and their quarterly report on Form 10-Q within 30 days of their quarter-end. The proposed rule basically would define an "accelerated filer" as a seasoned issuer with a defined market capitalization. Companies that are not accelerated filers would remain subject to the current filing requirements of 90 days for Form 10-K and 45 days for Form 10-Q.
We respectfully request that the Commission refine its definition of accelerated filer.
Specifically, we request that the definition of accelerated filer exclude all reporting companies whose equity securities are not listed or traded on an established public trading market or Nasdaq.
This would be in addition to excluding reporting companies, as proposed and with which we agree, that file only by virtue of public debt, preferred stock, or limited partnership interests. Should the Commission decide that the definition of accelerated filer include those reporting companies whose equity securities are not listed or traded, we request that the Commission consider providing exclusionary thresholds based on trading volume definitions that presently exist elsewhere in promulgated regulations.
We would be pleased to discuss our views with the Commission or its staff.
Very truly yours,
THE DAVEY TREE EXPERT COMPANY
/s/ David E. Adante /s/ Nicholas R. Sucic
David E. Adante Nicholas R. Sucic
Executive Vice President, Corporate Controller
CFO and Secretary