<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=Content-Type content="text/html; charset=US-ASCII"> <META content="MSHTML 6.00.2900.2523" name=GENERATOR></HEAD> <BODY id=role_body style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: = Arial" bottomMargin=7 leftMargin=7 topMargin=7 rightMargin=7><FONT id=rol= e_document face=Arial color=#000000 size=2> <DIV> <DIV> </DIV> <DIV><FONT size=3> All </FONT></DIV> <DIV><FONT size=3>  I think ever ones business will vary from locatio= n to location. Biz will also vary depending on whether you do in home service or = just rebuilding. I like the comments about diversification.We experienced a few d= owns the biggest one being  most of 2003 but we still got by. The time befor= e was about 3 months in 1998 when I had to lay off a main worker. Overall this= has been a great year for rebuilding & not bad for the service end. I don't = do much outside work but my brother handles much of that & he did well.</FONT></DIV> <DIV><FONT size=3>  At this time of year we  are grate= ful for the care & concern of friends & family & a faithful creator</FONT></DIV> <DIV><FONT size=3>  As Willis Snyder always says aim for the high end.</FONT></DIV> <DIV><FONT size=3> Prosperous new year in all ways & not just monetary</FONT></DIV> <DIV><FONT size=3>     Dale Erwin</FONT></DIV> <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: blue 2px solid"><= FONT style="BACKGROUND-COLOR: transparent" face=Arial color=#000000 size= =2> <DIV><STRONG><FONT size=3>There is good news and there is bad news from = this end. I am Down from last year on appointments by 25% but only down by 7.5%= financially, which means that profitability is actually UP.</FONT></STRONG></DIV> <DIV><STRONG><FONT size=3></FONT></STRONG> </DIV> <DIV><STRONG><FONT size=3>The one challenge we are going to have to addr= ess is the onslaught of the digital piano. Traditional piano dealers are selling = more of these now than the real thing. I always try and put my customers o= ff buying them by saying that they lose their value very quickly, just like computers because they become outdated (obsolete) within a few years. I al= so tell them that they will soon become tired of the sound of a digital piano= (at least I do) "listener fatigue" and all that. I can only play a digital pia= no for about half an hour and have to switch it off. </FONT></STRONG></DIV> <DIV><STRONG><FONT size=3></FONT></STRONG> </DIV> <DIV><STRONG><FONT size=3>Have any of you ever analysed the tuning = on a digital piano: it's terrible. The temperament is not very smooth at all an= d even the unisons aren't all that great. However I do suspect that if they = were tuned the way we tuners would like them to be tuned, they probably wouldn'= t sound like pianos at all!</FONT></STRONG></DIV> <DIV><STRONG><FONT size=3></FONT></STRONG> </DIV> <DIV><STRONG><FONT size=3>Any other ammunition with which to bombard the= onslaught is welcome.</FONT></STRONG></DIV> <DIV><STRONG><FONT size=3></FONT></STRONG> </DIV> <DIV><STRONG><FONT size=3>Looking forward to another year.</FONT></STRONG></DIV> <DIV><STRONG><FONT size=3></FONT></STRONG> </DIV> <DIV><STRONG><FONT size=3>Burp</FONT></STRONG></DIV></FONT></BLOCKQUOTE>= </DIV> <DIV></DIV> <DIV> </DIV></FONT></BODY></HTML>