We were faced with some difficult markets in the fourth quarter. particularly the continuing financial problems in Asian markets.

John and I have never disagreed about the businesses.

Time and again, whenever we have posed any kind of challenge, Visa enacted punitive new rules tailored to interfere with our business plans and our ability to compete.

It has become clear that in light of the continuing personal attacks on me, and the unprecedented level of negative attention our firm — and each of you — has had to endure, that this...

While there have been some encouraging signs recently, the business environment has continued to be very difficult,

Miraculously, it appears the vast majority got out safely,

[Morgan Stanley, the World Trade Center’s largest tenant, said 40 employees of the more than 3,700 stationed in the complex remain unaccounted for.] The loss of a single life is too many, … But when...

I deeply regret any PUBLIC IMPRESSION — (the capital letters are mine) — that the Commission’s complaint was not a matter of concern to retail investors.