It seems like a great idea given all the uncertainty over regulation and Telstra's future.

With so much uncertainty about the eventual positioning/future of Liz Claiborne's department store partners (former May Department Stores door closures, potential spin-offs of Saks Fifth Avenue and Lord & Taylor, repositioning of Sears), we would not be surprised to see Liz Claiborne management take a cautious approach to 2006 guidance.

There has been three years of uncertainty and we are now looking forward to a stable future.

It's going to be a pretty hard task to sell when the future of the most profitable part of Telstra is so uncertain and risky. Its main business is in decline, and the downside is hard to ascertain.

The market seems to be less prone to panic when there's an earnings warning, ... There's the idea out there that perhaps the bad news has already been discounted in the market.

Uncertainty about the future can be eliminated by deciding to go with the flow.