H-P is probably quite worried, not just about PCs and servers but what Dell will do in printers, particularly in cartridges.

The first focus is going to be continuing the growth of the business ... focus number two is getting the cost structure aligned with the new demand. I imagine we're going to see another round of downsizing ... I think it's going to be significant.

In our view it's going to be a real stretch for them to achieve that type of gross margin in a revenue environment we think is at best in a muted recovery. Right now, they are getting the flow-through benefits of restructuring and cost-cutting, but at some point it's going to be a case of diminishing returns without volume growth which turns into revenue.

I expect more companies to pick off private players, start-ups that don't have the funding to make it to next level. You're not going to see large public company transactions anymore. History has proven that they don't work since they are too difficult and time consuming.

We have (got assurances from the Greek football federation) that the best team will come from Greece and we will (also) have the Australian team in full swing.

We are making sure the game will exist, and that people will be able to watch the game because money has come into the game.