eda mu cafry from the recorders office. >> good afternoon member thofz rules committeefelt my name is edward mu cafry and i thank you for thunt to address you. the ordinance will streamline [inaudible] of additional taxation obtheir properties. it will eliminate redunds aenss and prevent confusion for the property owners. as supervise r cohen stated in her remarks, our office currently issues 2 notices within 10 days. these notices are fallowed by a revised tax bill [inaudible] both of the notices communicate the same message which is the first notice informing the property owner will enroll in the assessment and the second notice informing the property owner that we have enrolled the new assessment total. with this legislation nothing will change with regard of informing property owners of the right to formal review and appeal the assessment value. the new notice includes details on filing dead lines that iply to the changed assessment. the ordinance has [inaudible] and treshier [inaudible] if passed the offices will work to insure the slaw implemented accurately. thank you to superv

eda indicated that the valuation of toshiba's assets could be downgraded further depending on consultations between the company and an auditing firm. toshiba is scrambling to form a new management team. the company plans to name the team by mid-august. toshiba says the chairman of the board masashi muromachi will temporarily replace tanaka as president. it says independent directors will account for a majority of the board. and the in-house audit committee will be headed by an outsider. toshiba says it will set up a panel to draw measures to prevent a similar scandal. >>> meanwhile officials at the tokyo stock exchange are expected to take action. gene otani is here with us with all the details. so gene tell us about this. what measures are going to be taken? >> we're starting to see some of the sidesques of what's going on in toshiba. the officials are likely to move toshiba into the alert category. regulations state companies that falsify earnings reports remain listed to protect investors but the shares of such firms are designated as securities on alert. the tse will examine the panel's