The share repurchase program reflects our confidence in the performance of Sears, and our commitment to increasing shareholder value.

We are honored to be recognized for our financial performance, highest standards of corporate governance and commitment to delivering value to our shareholders by these prestigious financial media organizations. We believe this recognition is a testament to the success of our strong management team and steadfast focus on consistently delivering solutions that strengthen our customers' businesses and drive long-term value for both our customers and our shareholders.

Our strong commitment to continuing to create shareholder value is evidenced by the declaration of our first ever cash dividend. This dividend, supported by the company's excellent free cash flow and strong balance sheet, reflects our confidence in the future growth of Barnes & Noble,

Delivering on our long-term commitment to enhance shareholder value, this is Devon's third consecutive annual dividend increase. We doubled the dividend in 2004, increased it by 50 per cent in 2005 and are increasing it by 50 per cent again this year. We also completed a 50-million-share stock repurchase program in 2005 and have another 50-million-share repurchase program now under way.

Delivering on our long-term commitment to enhance shareholder value, this is Devon's third consecutive annual dividend increase. We doubled the dividend in 2004, increased it by 50 percent in 2005 and are increasing it by 50 percent again this year. We also completed a 50-million share stock repurchase program in 2005 and have another 50-million share repurchase program now under way.

A raise should be based on performance and market data establishing the value of your job.