In 2005, we'll continue to judge our success by assessing whether we achieve top-quartile financial results, measured in terms of returns on capital, shareholder returns, and earnings and cash-flow growth, while maintaining strong financial flexibility. At the same time, we'll continue building a culture that is obsessively focused on deeply understanding what customers need and want (which may or may not be the same thing) and operating our plants, mines and delivery infrastructure at the highest production levels, lowest costs and safest performance. I'm grateful to TXU's employees for their hard work, commitment and resiliency during 2004. Employees dealt with the upheaval of restructuring and the inevitable uncertainty of competitive markets and did a truly remarkable job. They set generation records, delivered electricity with improved reliability and took big steps toward a distinctive reputation for customer service. In some cases, employees were simply heroic, especially in June as thousands worked around the clock to restore service and care for customers following the worst storm outages in the company's history. I'm proud to work with the great team at TXU as we build this enterprise into a high-performance industrial company. I am also grateful for your support as the owners of the company, and I look forward to the completion of TXU's exciting and rewarding transformation.
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