Marvel has completed the early pay-off of over $150 million in Senior Notes out of cash on hand.  The previously announced transaction left Marvel with over $150 million in cash and no debt.  Marvel will take a $16 million charge for various forms of interest costs related to the pay-off.  The company expects to have over $200 million in cash at the end of the year.  We assume Marvel will be looking for something to do with its cash hoard other than earning commercial paper interest.