While it has generally been assumed that it is necessary to measure the time‐dependence of B meson decays to measure CKM phases, several recent theoretical analyses suggest that at least one of the angles of the unitarity triangle can be extracted from rate measurements alone. Therefore, these measurements could be made at a symmetric e+e collider operating at the Υ(4s) where there are well established techniques for obtaining excellent signal to background in a variety of B meson decay channels. The only candidate for a symmetric B Factory is CESR, the Cornell Electron Storage Ring. The status and future plane of CESR and of the CLEO detector, which operates at the single CESR interaction region, are reviewed. It will be shown how measurement of the magnitudes of all CKM matrix elements can be made by CLEO. The potential for measuring one of the angles of the unitarity triangle is also discussed.

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