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TWST: Ken, what's the outlook as we move through 2000? Do you have any concern that the pace could slow down?

Mr. Gassman: Quite frankly, we're hoping that economic growth will slow a bit. The pace of economic growth has just been too rapid over the last 12-18 months -- and that which goes up rapidly can also fall rapidly. Our outlook calls for much more moderate retail sales growth in the year 2000. And we think that will come about because of higher interest rates as well as the pressure that OPEC is putting on oil prices.

TWST: What about Whitehall?

Mr. Gassman: Well, Whitehall Jewellers (NYSE:JWL) is a little more upscale than the typical mass market store. In addition to utilizing third-party credit, which, in my opinion, improves the quality of Whitehall's balance sheet and the quality of their earnings, Whitehall probably has one of the best management teams in the industry. The Chairman of the Board of Whitehall is a jewelry merchant at heart. He understands the business. He has a highly focused strategy. Whitehall, for example, takes much smaller store locations than its typical competitors. The typical jewelry store in the industry is 1,200 square feet, whereas a typical Whitehall store is about 800 square feet. The typical jewelry store in the industry generates near 1 million annually in sales, whereas Whitehall Stores, even though they're 30% smaller, generate about 1 million a year in annual sales. So Whitehall has a formula that is highly productive. The company generates sound financials and, in my opinion, has less risk because it doesn't have the credit risk of most other jewelers. So I think that's what sets Whitehall apart.