That would be an old dog learning new tricks. This is not a company or a management team that has been willing to admit they are making mistakes.

You can't teach an old dog new tricks.

We are not changing our estimates today, but do expect to have to lower them again after the call -- both for the second and third quarter. Aggressive pricing and weak demand should mean mid-40 percent gross margins by the third quarter.

We knew there were some constraints but not to the degree that it ended up manifesting itself in terms of revenues.

Margins and revenue were better than feared. Inventories did go up as we expected but they basically are not far off from where they were last year.

42% of our management team are women. So we've reset the goal to 50% by 2017. Because that's when Westpac becomes 200 years old as an institution - the oldest bank, and indeed the oldest company in Australia. So that's a lovely point to reflect on.