quarterly results

Given recent troubling economic newz, I thought it would be a good idea to present Doc Nagel, Inc.'s quarterlies. This is important information for investors, because, obviously, if a corporation is profitable, stockholders' wealth increases, and if a corporation isn't profitable, the corporation lays off workers. The people who take the big risks in a market economy have to know whether they're going to be richer, or whether other people are going to be destitute. Without that information, it would be very difficult for extremely wealthy people to continue to balance their stock portfolios in order to make damned sure that they continue to be extremely wealthy. They would be more or less at the mercy of economic forces that they could not control, and which would determine their chances for a livelihood or a decent standard of living. Terrible to contemplate.

Anyway.

Doc Nagel, Inc.'s diversified industries remain fundamentally sound. Doc Nagel, Inc. U continues to offer on-line fake degrees in fields ranging from A to Z. Okay, so no one has matriculated at Doc Nagel, Inc., U in months and months, but considering the degrees are absolutely free!, we're not losing any money there. The political satire department has, as all our shareholders know, been closed since 2003, when the satire bubble burst. We are exploring options for starting that operation up again, with a more cautious approach to the market. And no more free massages and lattes. The outrageous perks of the satire boom are a thing of the past. Quit whining. Finally, we look forward to a strong third quarter from our music department. We can't say why.

I realize this looks more like a projection than a report of earnings. One might think I was evading the issue.

So I am proud to announce that we anticipate no layoffs for the coming quarter. Effective immediately, there will be temporary long-term across-the-board productivity-center personnel permanent-position scale-backs, from which we hope to attain a 40% reduction in costs associated with compensation packages. Because the scale-backs are temporary and long-term, we can anticipate no serious reduction in productivity, since the remaining productivity-center personnel will absorb tasks. As a result, we are now able to project a fiscal-year balance.

Printed, bound copies of our complete quarterly report and fiscal year projections are available from our finance department at the address below.

Finance Department
c/o Complaints Department
ATTN: Arthur
Doc Nagel, Inc.
Turlock, CA 95380