I had a meeting yesterday with someone here in Chicago and talked about the state of the JBO business. I am hearing that this year we are going to get strict enforcement of the payout rules. I've even heard the number 50% thrown around. Firms cannot and will not be allowed to give 100% payouts and the ceiling will most likely be 80% and could be as low as 50%. There will be no gimmicks or games allowed. There will be STRICT enforcement of this policy. It's getting a lot of discussion here. I just wanted to put this out there. I do not have any "inside" info regarding this so please don't ask. I'm just reporting what I am hearing.