Beware of the tyranny of making small changes to small things. Rather, make big changes to big things.

While we all know the movie business is by nature hard to predict, I think it's reasonable to conclude that recent changes in the home video market caught us and many others in our industry by surprise.

The soft stuff is always harder than the hard stuff.

We are now, we believe, more knowledgeable about how to approach the reality of this new, certainly more dynamic, video marketplace.

Recent changes in the home video market got us — and others in our industry — by surprise.

That are our strength and heritage.

Our goal is to produce consistent earnings growth of about 15 percent a year, (but) despite remarkably strong performances by many of our businesses, we fell well short of that in 1996.

In really good companies, you have to lead. You have to come up with big ideas and express them forcefully.