Barry asked me to post the S&P commentary:" S&P reiterates strong buy opinion on ADSS Baidu. Bidu's ADS were down notably yesterday following an announcement that the SEC was charging china affiliates of major U.S. accounting firms with violating U.S. securities laws. The SEC claims they have been refusing to produce documents related to china-based companies under investigation by the SEC. Our understanding is that chinese laws make it illegal for certain accounting documents to be made available outside the country. We see this as a largely political situation that will eventually get resolved. We also believe that related risks are largely priced into Bidu."