What a fucking idiot. - Rupert Murdoch

They’ve started it. We’ve had bitter, personal attack on some of our people. They tried to destroy our credibility as a network. But it is only natural that the people can stand who were personally attacked and their children were personally attacked should fight back and I support them. I support my people completely.

While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.

The greatest thing to come out of this [the war in Iraq] for the world economy, if you could put it that way, would be $20 a barrel for oil. That's bigger than any tax cut in any country.