We were convinced that renewable energy cannot provide enough (power) and that oil is not infinite -- so you must find something else. Everybody makes his choice.

Short of a significant decline in oil prices, we do not foresee a likely catalyst that would spur the market significantly higher at this time. The equity market will likely remain in a transition phase, which could see the strong equity market uptrend of 2003 evolve into a slight downtrend in early 2005.

There are therefore no discussions nor ... concessions on this subject.

2003 was without a doubt a difficult year. This has been a wakeup call.

2003 was without any doubt a difficult year for our wines in the U.S., for accidental and structural reasons. This has been a wakeup call.

We want to have a discussion, because a presidential American decision from Palo Alto saying ' there is a 10% cut because I'm here, and so that there is in an effect on the stock market', that's no company policy.