It stayed so true to the play. It felt like you were in the theater all over again. Everybody was clapping after they performed each number.

In the winter, Venice is like an abandoned theater. The play is finished, but the echoes remain.

Charity in the theater begins and ends with those who have a play opening within a week of one's own.

Live entertainment is really prospering, and people are demonstrating their appetite for live theater. The theater has become the mass art form it was decades ago.

After a year of very difficult business for Nike, there was a sense that the U.S. business was starting to see a turn. The Foot Locker issues and the potential escalation of promotional activity by the retailers puts a question mark on that.

The remaining question now, however, is the fate of the Saks Fifth Avenue division. We believed a breakup was the likely outcome for Saks and today's report confirms our expectation. However, current trends do not suggest much upside from current levels. Instead, upside to current valuation hinges on a turnaround at the Saks Fifth Avenue business, which we consider unlikely under current management.