Ann: Annual Report to shareholders, page-30

I was taken aback by the fact they are yet to move to a group CRM. Can you imagine the nightmare their sales team are living? It's no wonder cross-selling has been described by Lord as a 2/10.

Anyways, i ain't selling. What TNT are trying to do has never been done before.

And this poor management team have to navigate these uncharted cyber waters, whilst dealing with a massive talent squeeze with practitioners being poached from every direction, and being paid huge sums, whilst trying to succeed in a competitive market, and trying to build a business with an impatient investor market. Tough gig.

If you're looking for a short term opportunity, i can see why you'd be p*ssed. But i've been in it since 4.6c and watched this company do extraordinary things in two years.

It is going to take at least 1-2 years before this business is running on eight cylinders. I have time.