They said they were investing in their growth, which is something we pay management to do. The fact that the market takes this perverse view is baffling.

We've got momentum sellers. The company didn't beat the earnings forecast on the upside.

There's no breakout here, no 'brave new world' experience here, but at least there's no breakdown. So when you've got something that's teetering on financial insolvency that does better, it's sort of encouraging.

There is a terribly fine line. So, what the retailers are doing is using computers to do the work for them so they can downgrade their staffing quality.

I think the natural foods industry has been a tremendous success as a cottage industry, and I think the larger players now are needing to take it to the next level and get the economies of scale that are due to major mainstream companies.

There seems to be no sign of inflation.

It's an essential move. Winn-Dixie was in a downward spiral, and this kind of restructuring helps them pull out of it. If you've got a body that's sick, you perform major surgery. What we're seeing here is that major surgery.

I think it's a bit ho-hum. It's not a bad number, but if you open stores at 5 in the morning and give away free breakfasts and 4.3% is all you can do, in the most aggressive [day-after-Thanksgiving] campaign ever mounted by anyone, I think it says that the consumer doesn't have the money to spend.

Shareholders basically have got more debt, more fees, more equities.