It was pretty much what we were expecting, but the market was hoping for more.

When he birdied 15, 16, 17, and 18, I didn't even come close to matching that. That's pretty tough to come back from.

If they can hop out of that there's I suppose another possible return of capital, special dividends and such like.

Investors are saying 2006 is going to be a very difficult year for retail.

I think Christchurch City Holdings will have to pay a premium to gain control of a strategic asset in the Canterbury region.

If you take Telecom out of the equation, the next highest volume would be Sky City, which is coming in for some pretty strong demand at the moment.