They've done a great job educating customers to make good business decisions.

When we did our first international shipment, we had no idea what we were doing. I don't have a background in logistics. I had no idea how it works. I knew FedEx could get it international. As a small business, trying to get through different governmental bodies that regulate that, I didn't have a chance.

When we look at the way we were able to increase transactions while keeping head count flat or going down, there is no way we could have done it without FedEx.

What you see here is a clear trend. FPL's business is about 80-90 per cent regulated, and Constellation's is about 75 per cent unregulated.

[But] for anybody in this business, ... the big challenges are: How do you continue to keep print magazines exciting and viable while also taking advantage of the Web? How do you attract younger readers? And what can we do to make the strongest possible case to the advertising community? John is in the same boat with everyone else in trying to figure those things out.

We're very aware of fuel prices and the effect they have on our business, especially full-size trucks,