A stagnant global economy and the modernization of the UPS fleet have compelled us to adjust our crewmember staffing levels. As many as 100 of our 2,515 pilots could be affected by the end of 2003. We have discussed alternatives with the IPA, including a Voluntary Separation Plan and a Voluntary Leave of Absence Program. We will provide details of both programs next week. We hope a sufficient number of crewmembers will accept these offers so furloughs may not be necessary. However, furloughs remain a reality. Depending on the success of the separation and leave of absence offers, 19 crewmembers could be furloughed immediately. The first 19 crewmembers could be furloughed by the displacement bid posted on Feb. 7, 2003. Barring an unforeseen upturn in business, another 20 could be furloughed by a bid posted in March, and 61 more could be furloughed by September. These dates are subject to change. The decision to adjust pilot staffing is based on very real and serious business issues. UPS air express package volume is significantly depressed. We first started noticing the decline in our business during the summer of 2001 as the economy began to cool down. Then terrorists attacked our country on 9/11, and the economy did not improve during the remainder of 2001. Nor did it improve during 2002. To make matters worse, we suffered setbacks to our business during negotiations with the International Brotherhood of Teamsters (IBT) last summer when our non-union competitors lured customers away by reminding them of our strike in 1997. Even though we successfully negotiated a contract with the IBT without any service interruption, we lost a significant amount of business to these tactics. In spite of our best efforts, we've only recovered about two-thirds of that lost volume. We have responded to lower-than-anticipated volume in a number of ways. Throughout the company, we have cut costs, collapsed districts, restructured regions and business units, laid off drivers and hub workers, retired aircraft and deferred aircraft deliveries. By the end of 2003, we will have parked or retired 34 aircraft. All of those aircraft were three-crew aircraft. As we've replaced them, the new substitutes have been more efficient two-crew aircraft. We sincerely wish adjustments in pilot staffing were not necessary. We have delayed this decision hoping for some type of rebound in economic conditions. Unfortunately, no rebound has occurred, and we must act to help protect the companys overall competitive position.