The good news is that we think Tyson is at a low point in its earnings cycle.
The bottom line is that this is a low bid for a company that has enough earnings power to fuel a $30 stock price even with the heavy upfront spending for its case-ready products.
The bottom line is, pretax earnings are going (to be) down between $200 (million) and $225 million, but they're not giving out the specifics of why and what percentage of it might be due to selected price cuts,
They said there would not be across-the-board price cuts, but I don't see how there cannot be selected price cuts given the magnitude of the earnings reduction.
It's a startling level of operating earnings growth and it's happening really before the higher ethanol and high-fructose corn syrup prices really go into effect. I'm just taken back (by) how sustainable these earnings levels are.