We continue to struggle with the strategic positioning of the company longer-term.

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But Japanese investors are nothing if not patient, and MUFG is focusing on strategic positioning and global synergies with MS in corporate finance.

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And I had taught leadership from a strategic perspective for a decade and knew much about how to integrate leadership with strategic positioning in the market and how to build an organization that was aligned with this strategy.

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While we are disappointed that 2011 did not meet our financial objectives, in 2012, we believe we are positioning ourselves for both financial and strategic success, through our continued focus on differentiation, executing on network growth, and creating a compelling film slate.

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Its satellite competitor, Dish Network, has made several strategic acquisitions, and even though Dish is currently losing subscribers, its efforts regarding its long-term positioning are notable given the changing industry dynamics.

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