I don't think they will go down that road again.
I did listen to the presentation and went through the slides on the web page. I was planning on attending but decided to just listen in on the internet, as I was fairly busy today. I did like what I heard. I just do not think we will hear of a 5 year plan which is ok with me. I do think it is better now for KS and team to prove by their actions in the coming quarters. Actions speak larger then words. What will be interesting is watching in 2013 Q1 the saving hit the bottom line. I do think KS and team have done a pretty good job in the last year to get the cost down to $1.15 per household (starting in Q1 2013). True they could do better but this is a start where those before them could not accomplish or didn't try.
Here's the real problem. Nobody at the company knows how to grow revenues. If you look at the history of sales, there has been no increase in sales over the last 5 years. KS is an operations person and BA has no vision. Cost cutting is the easy part. The company has not demonstrated any proficiency in growing the top line. Even with $15M in carriage savings next year, they will still not be profitable if the top line stays the same. They have more customers, the customers are becoming more loyal, the customers are spending more, the merchandise mix is getting more diversified, channel position is improving and yet, the top line is not moving. Wake up guys - your merchandise offerings are not compelling. You need quantum leaps in this area.