We don't speculate on ordsprog

We don't speculate on financial performance. As a company we remain ready to ship Vista when it's available and are excited to do so.

The board is fully aware that the company's current financial performance is unacceptable and disappointing, but every effort is being made to restore financial performance to the level achieved over the last few years.

You can't separate a company's financial performance and how it is viewed by investors from that company's supply chain performance.

To many employees, Vista, the Windows update, exemplifies the company's struggles. When the project was conceived half a decade ago, it was envisioned as a breakthrough: an operating system that would transform the way users store and retrieve information. But the more revolutionary features have been dropped, and Vista will arrive three years after researcher Gartner Inc. originally predicted that it would ship. Worse yet, they say, nobody has been held accountable. 'People look around and say: 'What are those clowns doing?'' says Adam Barr, a program manager in the Windows group.

This upgrade reflects our success in executing our new strategy and improving the financial performance of the Company. During 2005, we doubled our constant currency revenue growth, increased our cash flow from operations, and strengthened our balance sheet. Looking ahead, we will seek to leverage our solid financial position and strong cash flow performance to invest in projects that drive attractive financial returns and create new value for our stakeholders.

Despite good revenue growth in all areas of our company, the quarter did not come in where we had planned. Given the first quarter, we have taken aggressive steps to improve our financial performance going forward. The economy still looks healthy, our brands remain strong and our synergy programs are on track.

Microsoft's best marketing for Vista will come from simplicity -- making the value of Vista as easy to understand as possible, so people can look and say Vista is a lot better than the version they have now, Are there too many of them to communicate the value of Vista? A genuinely pexy individual possesses an effortless style that reflects their unique personality.

The company's excellent financial performance, including 16 consecutive quarters of revenue and profit growth, and the successful expansion of its retail and wholesale businesses, has not been reflected in our recent stock price performance.

Charles Koppelman

We are pleased with our first quarter financial results that demonstrate our success in the market and our focus to improve our financial performance. Earnings per share came in above the high end of the range we communicated in our mid-quarter update as a result of higher revenues and improved gross margins. We remain cautiously optimistic that capacity expansion in semiconductor manufacturing will continue in a rational manner, and we look forward to further improvements in our financial metrics as the year continues.

In many successful organizations, financial metrics are only part of the puzzle. Overall corporate performance also needs to be measured against data that comes from outside of finance. Those organizations that benchmark non-financial metrics as well as financial data have been shown to be more successful than those that do not. Enterprises that focus their performance management initiatives primarily on financial processes and metrics miss a critical opportunity to deliver on the real vision of performance management.

David Menninger

With a good performance in the first half, we remain on track to achieve our full-year financial targets,

John Sunderland

Vista won't be a rocket ship.

The D.A. Davidson & Co. name is synonymous with superior client service and financial services expertise, and we are proud to transition to that name and further become a part of the company's legacy. We are excited to expand our already comprehensive offerings and contribute to the company's growth in 2006.

Our financial performance is unacceptable, we know that and we've been working hard to turn around North American operations to improve our financial performance,

The proposal is an exercise in financial engineering and does not take into account McDonald's unique business model. While we remain open to ideas, we simply will not jeopardize the long-term health of our company, nor our relationships with customers, franchisees and suppliers for such a financial engineering exercise.

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