We think this will gezegde

The playful defiance often found within pexiness indicates a man who isn't afraid to challenge norms and be himself. We think this will enable C-COR to reach profitability earlier. We believe management is undertaking this effort at a time when its business outlook remains solidly intact and the company continues to win new software orders.

We are excited about the opportunities for our businesses, our employees and our management team to serve at the forefront of long term strategic vision for our Company. Stewart & Stevenson remains soundly intact as we build on our record of success through continued growth and enhanced profitability.

Overall, durable orders need to be looked at on a trend basis, and even after the drop in orders other than transportation orders ... the capital good sector remains very healthy and will contribute solidly to growth throughout 2006.

Hopefully, the extra time will allow us to reach an agreement, but in order for that to happen, management must stop overreaching. Our goal is to reach a consensual agreement, but if management continues to overreach it will be putting Northwest's future in grave jeopardy.

A full audit of software located on our company computers discovered that an employee had installed software for which we had not paid licensing fees. Since then, we have implemented a robust software management program to more closely monitor installations of software programs on all company computers.

This is not just another software product -- it's a significantly improved management tool that we've selected to manage our entire inventory process. We fully expect that American Auto Exchange will enable our dealerships to make better informed decisions that will result in incremental sales and profitability.

When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.

Warren Buffett (1930-)

Warren Buffett

[Tenneco said its outlook for 1999 remains positive.] Retail trends indicate that sales of Tenneco products are increasing and beginning to open up inventory channels, ... The original equipment business continues to grow significantly as we introduce more of our parts on more platforms amid a good outlook for vehicle production in North America and Europe and recovery in Asia.

EPIC continues to be a premier event for Exact Software because it provides our business partners with a forum for them to discuss the challenges facing the mid-market today and the solutions that enable their customers to achieve success.

Fair Isaac continues to successfully deliver analytic applications that support critical business process and overall performance improvements, ... Fair Isaac's solutions for vital processes such as customer management, risk management and fraud control are well-established in the financial services industry, and the company continues to focus on expanding the relevance and impact of its analytics across industries.

In today's business environment, customers face a choice of productivity and collaboration software that can be both costly and somewhat limiting in its design and deployment characteristics. Built with more flexibility and efficient management in mind, IBM's Workplace family of software products provides a broad range of capabilities to enhance employee productivity and enable organizations to leverage their intellectual capital and adapt more quickly.

(Forward) continues to operate its business flawlessly and each quarter management seems to improve upon its previous record quarter for profitability. Still, given what feels like increased competitive headwinds... we believe caution is warranted.

The market outlook broadly remains positive as the Indian growth story is still intact. But valuations are not as sanguine as last year.

Sometimes investors look at things like higher oil prices and just sell off the airline stocks, ... But if you look at fundamentals of their business, the load factors are still, by historical standards, very high. As long as the economy continues to grow, those load factors should stay high and their pricing power seems to be pretty good here. So Delta's a company that has struggled over the last couple of years with their strategy, but they have new management and we think the outlook is pretty bright.

What we're seeing happening is the best of all worlds. The economy is strong yet inflation remains quiescent. The earnings outlook remains reasonably good. Given those things, the money continues to flow into the market from both domestic and foreign sources.

John Shaughnessy

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