Right now if a Toyota (plant) came together, there'd be 16 people fighting for them. Competition can be a good thing as long as it doesn't become destructive.

Looking ahead, Medtronic is exceptionally well-positioned to maintain its growth momentum, ... Significant investment in research and development promises to usher in a new era of medical technology, with continued advances in multi-chamber cardiac pacing, the increased use of device-biologic combinations, and the increasing role of information technology in transforming physician practice and patient care.

We believe that we are picking up the majority of whatever business Guidant couldn't fulfill because of their recall, and we continue to see good momentum going forward,

The new product pipeline has never been stronger as we plan to introduce significant new therapies to treat major medical problems such as heart failure.

It's a challenge because of the way we're organized. Nobody's elected to represent a region.

Looking ahead, we expect accelerating growth as an unprecedented number of new products are introduced during the first half of the next calendar year.