TUP
#<UNK>, let me comment on the first part of that and you add whatever you want and handle the second part, as well.
<UNK>, firstly, objective of management and the Board of this Company is the sustainability of this enterprise moving forward from all of our stakeholders, from the 3 million who are sales force to all of our employees and to our stockholders.
And we're not going to take short-term actions that could put that at risk.
The Board and management have put a stick in the ground after, I think, a fairly sophisticated evaluation of what is our comfort level with regard to leverage, and that's what we're operating with right now.
And then when you mentioned benefit to our shareholders ---+ which shareholder.
The one that's going to be in and out of our stock in months or the one that's going to be our European shareholders who are in our stock for five years.
We look at it for all of our shareholders out there.
So, we generally do not do short-term actions that could put this Company at risk.
<UNK>.
The other thing that the approach enables is to be consistent with the dividend and not have to come off of it if there's some small dip in earnings.
So, that's part of the picture, as well.
In terms of the CapEx part of the question, <UNK>, the $5 million reduction really reflects the weaker exchange rates given where we're spending.
It's not significant change in the projects.
It's just they don't cost as much in dollars.
It depends on which unit, <UNK>.
The key piece of the business is they're doing classes, cooking classes there, and that is a growing percentage.
You'll get to some of our units where it's 25% to 50%.
Others it's early days of that.
That is a growing portion of our business, though.
Greg, we've talked about this before.
The typical apartment isn't big enough to really have a Tupperware party, so it is the local unit there for parties.
But that's where our management team is really putting their effort because it's the most productive.
I think one of the things that shows that is about one-third of our business is now the water business, but we're now starting to see other of our products, our food preparation products, start to really come on strong there, and that's a result of demonstration of those in a cooking class.
I don't know the exact number but it's got to be less than 5%.
Every bit of what you would see in, for example, a Starbucks here you'd see in ours there.
They have to have certain signage.
We're into our third generation of what the outlets need to look like.
And all that merchandising, that's what our headquarters are doing there.
And we have regional offices there that are very close to these.
It really is a quasi-party plan business in locations where they can't because they can't do it in the house.
But it's a demonstration and relationship business there, sold out of these bases.
We give various configurations of those.
And in the areas where they wouldn't be able to afford that, it's a smaller kind of a unit there.
You get more west in China ---+ almost all the high per capita income population is along the coast and in Beijing ---+ you go west, things change dramatically.
And that's where China's trying to feed a starving 800 million in that part of it.
And so you'll get a modified configuration there.
Okay, thank you.
Thanks, everybody, for your time.
We expect to build momentum this next quarter with our sales force size advantage.
Remember, it's [2%] right now and we really are working hard to build off this.
As <UNK> said, too, we're hoping to get to 5% to 7% in local currency with full year guidance up 4% to 6%.
So a very interesting time in the world.
And I think it shows our business model over this past decade, we navigate pretty well through it.
And I think the key to it is the leadership team that we're developing out in all of these markets.
Anyway, thank you for your time.
