No one could ever expect appreciation to continue at the level it was.

It's going to pick up - and we're going to be prepared.

We're using this time to catch our breath a bit and doing some extensive training.

I don't see the incentive to tender our shares. We expect more, and hopefully we'll see more. There may be some players we're not aware of yet.

There was no robust auction that I could see. It's been a bizarre process . . . For all the effort and bravado, it's amusing.

I just don't buy the story that Zucker will walk away, because he'll trash his own holdings. There's some value there and I think someone will get it.