Inquiring minds will want to know the answers to these questions

1. In November 2008 (1st Quarter conference call) the company indicated that the underfunding of its pension plans had not deteriorated from the end of fiscal 2008 and remained at $321 million. This was attributed to a "very advanced hedging program". What was the nature of the hedging program and if it was so advanced why did the under funding increase 45% between November 2008 and June 27, 2009? This was worse than the overall market performed

2. Based o0n the company's 2010 guidance your five year transformation plan will fail to deliver the operating margin, cash flow and EPS targets you set out in 2005. These are not minor differences they are very significant. Why should we believe that Project Accelerate will deliver what you promised given your prior track record on restructuring benefits?

3. You use a substantial portion of the proceeds from the disposition of businesses to purchase 110 million shares of stock at an average price of $16.54. In retrospect was this one of the worst decisions you have made during your tenure at SLE?

4. In prior years the company engaged in a practice of reporting the amortization of capitalized software as an adjustment to gaap earnings. This practice inflated the non-gaap results reported to us. At the end of 2009 the company changed this practice and restated its prior results to now report these amounts as part of operations. Why did the company believe that the prior practice was appropriate? Will the new method have a positive or negative impact on fiscal 2010 comparisons?

5. When the company filed its fiscal 2009 Form 10-K on August 26 it did not report the Household and Body Care segment as a discontinued operation. Less than 27 days later the company announced that it had a binding offer to sell a component of the business and it would treat the entire business as a discontinued operation. Why wasn' the entire business treated as a discontinued operation in the 2009 10-K.

6. Bonus Question - Jim Cramer of CNBC indicated that Brenda was one of the worst CEO's in Americaand placed her on his wall of shame. Brenda, do you agree with Mr. Cramer's characterization of your abilities?

See you on Thursday