The industry is moving on. Digital is here and it's here to stay. HMV and Virgin have been slower to get into the market but they recognize it's important to be there and not be left behind.

There are a lot of consumers paying for songs then finding they don't work on their MP3 player because there are so many formats.

It's moving slowly and the slower-moving the storm, the more unpredictable it always is.

We think the industry is going to be slower in the first quarter, if not the first half, than we originally planned. There's clearly downward momentum right now caused by higher interest rates, higher fuel prices. Probably the biggest factor is consumer confidence drop in December. The industry operates on momentum and we think it will take time for that momentum to turn around.

We also look forward to the revival of the IC industry, which could be driven by trendy digital TVs and other appliances.

The best career advice I've gotten is to stay focused, keep moving forward.