It's an agreement, not a one-way street. There has to be give and take on both sides. We think we have a good deal.

We are extremely excited to have finalized our licensing agreement with the Naval Undersea Warfare Center. Since we began working with the Navy on the Blue Rose technology, the demand for next-generation covert intelligence and surveillance sensor systems has risen exponentially. We look forward to meeting this demand with our commercial partners and maintaining a close, working relationship with the Naval Undersea Warfare Center.

The changes we have been making to our automotive operations for the past two years are beginning to pay off. We have developed a very strong product line-up around the world, particularly in the fastest growing segments.

We have made tremendous progress with our globalization plans and with the overall improvements in the performance of the company since we embarked upon Ford 2000. So, I have advised the board that we should move our succession plans forward rather than wait until the end of next year, which was our original estimate.

This agreement reflects Warner Music's emergence as a multi-faceted music content provider. Today's partnership with Music Choice is also emblematic of our larger commitment to make a diverse range of our artists' content available across an array of dynamic digital services, in order to expand, enrich and redefine the music enjoying experience for consumers.

This agreement exemplifies our commitment to finding new ways our artists' music can be experienced across emerging platforms and distribution channels.