Ray - You added some further insight and I thank you. I should probably caveat/explain my statement that Hugo is not stupid. My degree is in international affairs so I tend to judge leaders on their ability to sustain power rather than on the quality of their policies. In terms of how Hugo has run VZ, he is stupid. Where I call him smart is that he has been able to defelct his comments through being vauge so he could deny responsibility. The same was with Hitler and Stalin (and Castro). This doesn not change that his decisions on running the country are horrible, but he can mask the bad results by blaming others and distancing himself from his comments. We have a similar problem here in the U.S. though not as despotic.

My problem with KRY mgt is that they never share the insight you provided to shareholders unless we ask. This should have been an official response.

Ultimately I think Hugo will self destruct. I think he will be re-eected but before that term ends I think he will be killed by his own people. I recall that the general who helped gain him his position is now a member of the opposition. His people can only talke so muchpain before they rise up and hang him.

Hopefully for us all Fung has played this right and we get a good deal. The increased interest is certainly encouraging.