We continue to believe that most of the communications [chip] companies will either have to preannounce disappointing results, or lower expectations during the June quarter reporting season.

Cisco management indicated that it believed that there would be little to no market for its excess inventory in secondary market because there is already an oversupply of components.

We continue to believe that inventory levels in the channel are as much as 60 percent higher than historical levels. We are modeling revenues to decline on a sequential basis in the March and June quarters, with a mild pickup in top line growth starting in the September quarter.

Luke is nursing a calf injury, but we will monitor his situation closely,

The operation went well, but the minimum he will be out is two months, so he is definitely out of the autumn internationals,

If we keep playing the way we are defensively, and competing, eventually it will turn our way. It has to.