1. Please provide a financial overview and commentary segment. Specifically, what can you learn from the annual report about each segment? Information disclosed in the annual report about business segments is typically more insightful about the company's product markets than the notes.
2. If growth is a significant value driver, does getting bigger transla into creating value?
3. Provide examples of businesses where network effects would or would not apply.
4. Where does the corporate governance fit in in the financial crisis?