A guesstimated example of a PPS calculation for 2008.... $1 bil revs x .50 EBIT = $500 mil x .60 (40% tax) = $300 mil/600 mil o/s = $.50 EPS x 100 PE = $50 PPS.. Far fetched? I'll let everyone be the judge based on all the "hot irons in the fire" as quoted by AC.