From: Liz Wolfson 
Sent: Tuesday, May 21, 2002 2:28 PM 
 
In reference to  Proposed rule change 33-8089   Acceleration of 
Periodic Report Filing Dates. 
  
  
We strongly disagree with the proposed change for quarterly 
filings for numerous reasons. 
  
1.  Closing the accounting period for several divisions takes 
approximately 30 days.  The accounting firm and legal firm we 
utilize to prepare the report need at least one week and if the 
report is sent out to be edgarized, several more days are needed. 
  
It would be almost impossible to accomplish all facets of 
accounting and preparation in less than 30 days. 
  
2.  The proposal to require filing of annual report 60 days after 
year end may not be as unreasonable. 
  
3.  The SEC needs to take a look at the Edgar program and start 
accepting filings in word/Xcel format.  The Edgar process is 
archaic, costly, time consuming and out of the past.  Word and 
Excel are mainstream to the majority of the filers. Documents 
should be accepted in that format without the edgarization tags.   
  
L. Wolfson 
Clancy Systems