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existing KATE SPADE businesses in Southeast Asia from Globalluxe." pg 19Will LIZ become a successful growth company, or fade into oblivion? I think it is unlikely for the Kate Spade brand to grow very rapidly. Analysts go crazy because many stores have expanded in Asian countries like China and Japan, but even China is having hardships. There is a lot of excitement over the changes LIZ has made, but once that excitement wears off and reality sets in, especially after what will no doubt be a dismal Q3 2011 report coming up, the stock could easily drop back down to under $6 a share.Liz Claiborne CEO Discusses Q3 2010 ResultsGood morning everyone and welcome to the Liz Claiborne Third Quarter 2010 Conference Call hosted by Chief Executive Officer, Bill McComb. After the opening remarks we will be taking questions. Therefore, please note that it cannot be recorded, transcribed or re broadcasted without Liz Claiborne's permission. Your participation implies compliance with these requirements. If you do not agree simply drop off the line.Please note that there will be a slide presentation accompanying the prepared remarks. There are separate links to the slides for webcast and phone participants. Please note that the statements made during this call that relate to the company's future performance and future events are forward looking statements within the Private Securities Litigation Reform Act. Reconciliations of adjusted results to the actual results are available in the tables attached to the earnings release and slides captioned Reconciliation of Non GAAP Financial Information.The company believes that the adjusted results represent a more meaningful presentation of its historical operations and financial performance, since they provide period to period comparisons that are consistent and more easily understood.Now, I would like to turn the call over to your host, Mr. McComb. Please go ahead, sir.Good morning and welcome to our third quarter 2010 earnings report conference call. This morning's call is being webcast along with speaker's support slides per usual which we will refer to throughout the call.Andy Warren, our CFO is also here with us and will add to the