Exhibit 12.2



Computation of Ratio of Earnings to Combined

Fixed Charges and Preferred Dividends



|                                                                                                                                                                                 |  | Year ended December 31, |        |      | Period January 1, to April 4, January 1, |         | Fiscal Year Ended March 31, |  |   | Nine Months Ended December 31, |   |      | Year Ended December 31, |      
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------- | ------ | ---- | ---------------------------------------- | ------- | --------------------------- |  | - | ------------------------------ | - | ---- | ----------------------- | -----
|                                                                                                                                                                                 |  | 1997                    |        | 1998 |                                          |         | 1999                        |  |   | 2000                           |   | 2001 |                         |      
|Calculation of Earnings                                                                                                                                                          |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|Pre-tax income (loss) from continuing operations before adjustment for minority
interests in consolidated subsidiaries or income (loss) from equity investees                    |  | $                       | 33,690 |      | $                                        | (32,663 | )                           |  | $ | (765,197                       | ) |      | $                       | 2,133
|                                                                                                                                                                                
|Distribution from joint ventures                                                                                                                                                 |  |                         |       |      |                                          |        |                             |  |   | 4,000                          |   |      |                         |     
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|Earnings before fixed charge adjustments                                                                                                                                         |  |                         | 33,690 |      |                                          | (32,663 | )                           |  |   | (761,197                       | ) |      |                         | 2,133
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Fixed charges                                                                                                                                                                    |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|Interest expense                                                                                                                                                                 |  |                         |       |      |                                          |        |                             |  |   |                               |   |      |                         |     
|Interest allocated to asset held for sale                                                                                                                                        |  |                         |       |      |                                          |        |                             |  |   |                               |   |      |                         |     
|Interest portion of rent expense                                                                                                                                                 |  |                         | 3,454  |      |                                          | 3,070   |                             |  |   | 4,005                          |   |      |                         | 850  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|Total fixed charges                                                                                                                                                              |  |                         | 3,454  |      |                                          | 3,070   |                             |  |   | 4,005                          |   |      |                         | 850  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Remove capitalized interest                                                                                                                                                      |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Pre-tax income (loss) from continuing operations before adjustment for minority
interests in consolidated subsidiaries or income (loss) from equity investees plus fixed charges |  |                         | 37,144 |      |                                          | (29,593 | )                           |  |   | (757,192                       | ) |      |                         | 2,983
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Preferred stock dividend requirement                                                                                                                                             |  |                         | n/a    |      |                                          | n/a     |                             |  |   | n/a                            |   |      |                         | n/a  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Ratio of pre-tax income (loss) to net income (loss)                                                                                                                              |  |                         | n/a    |      |                                          | n/a     |                             |  |   | n/a                            |   |      |                         | n/a  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Preferred dividend factor                                                                                                                                                        |  |                         |       |      |                                          |        |                             |  |   |                               |   |      |                         |     
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Total fixed charges                                                                                                                                                              |  |                         | 3,454  |      |                                          | 3,070   |                             |  |   | 4,005                          |   |      |                         | 850  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Total fixed charges and preferred dividends                                                                                                                                      |  |                         | 3,454  |      |                                          | 3,070   |                             |  |   | 4,005                          |   |      |                         | 850  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|Ratio of earnings to combined fixed charges and and stock dividends                                                                                                              |  |                         | 10.8   |      |                                          | (a)     |                             |  |   | (a)                            |   |      |                         | 3.5  
|                                                                                                                                                                                 |  |                         |        |      |                                          |         |                             |  |   |                                |   |      |                         |      
|                                                                                                                                                                                
|Insufficient to cover                                                                                                                                                            |  |                         | n/a    |      |                                          | 32,663  |                             |  |   | 761,197                        |   |      |                         | n/a  





|(a) |  | Earnings were insufficient to cover fixed charges and preferred dividends by the amount indicated.
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