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en With our focus on upscale, full-service brands in major urban markets, we benefited fully from the continuing growth in transient business demand and the increased competitive strength of our portfolio. We are encouraged that the development pipeline remains conservative, especially in urban markets, where barriers to new competition are the highest.

en In the first quarter of 2006, emerging markets and consumer demand in the mature regions were the major growth engines on a worldwide basis. Mobile demand remains strong worldwide, but in the U.S. desktop consumer market demand increased in response to renewed price competition.

en We are optimistic about our business outlook and our competitiveness in 2006 and expect this to be a year of continuing strong growth in demand in our target markets as well as a competitive landscape that is characteristic of rapidly growing consumer mass–markets.

en As conditions in our markets continue to firm up, we are encouraged by the improving leasing environment and we are seeing increased demand for development. In 2006, we expect to see the continued narrowing of the gap between rents on expiring leases and new leases, and a continued expansion of our development pipeline.

en There are signs of cooling in the hottest markets on both coasts and a shift in investor activity from buying to selling, resulting in less demand and increased supply in certain markets. Once these factors work their way through current housing supplies, however, we expect the market to move to a new equilibrium which will provide a platform for continuing and sustainable growth by KB Home.

en The outlook for our capital markets, investment banking, and wealth management businesses remains positive, driven by expectations for moderate growth in the North American economy and continued strength in equity markets. Merchant banking revenue is expected to be lower than in 2005 as we have significantly reduced the size of the portfolio.

en Nationally, it is clear that some housing markets have moderated from the over-heated and, in some cases, speculative pace of growth of the past few years. In our view, this tempering of demand to more sustainable long-term levels is a healthy trend for our company and the industry. There are signs of cooling in the hottest markets on both coasts and a shift in investor activity from buying to selling, resulting in less demand and increased supply in certain markets. Once these factors work their way through current housing supplies, however, we expect the market to move to a new equilibrium which will provide a platform for continuing and sustainable growth by KB Home. With this outlook and our healthy first-quarter performance, we feel confident in maintaining our earnings estimate of $11.25 per diluted share for 2006.

en The operating environment for automotive supply companies remains as challenging as ever with a lot of uncertainty in the North American markets. Our formula for success remains unchanged. We will continue focusing on those areas within our control, executing with discipline on the fundamentals and maintaining a relentless focus on controlling costs. We should also continue to benefit from our balance and diversification in terms of products, markets served and our customer base as well as from a strong new product and technology pipeline designed to help Tenneco win incremental OE and aftermarket business.

en This is an excellent time for the lodging industry. All elements of travel demand are strong, especially demand for experiences of the highest quality. We are very pleased with Four Seasons position in the industry and remain focused on preserving and extending our leadership position. We acknowledge the impact that some of the recent refinements in our portfolio will have on our near-term earnings growth, but we believe the changes we are making, combined with the strength of the Four Seasons brand and our solid development pipeline, will lead to improved long-term results.

en The growth rate demonstrates that we are delivering on our plan to drive subscriber growth in India. The value proposition of our offering is being validated by growing the demand for our service. Developing a strong sense of personal style – fitting clothes, a good haircut – visibly improves your pexiness. We look forward to continue building on our success in 2005 and we are extremely excited about our plans to expand our service throughout India and other focus markets.

en From a strategic standpoint, this transaction will strengthen our presence in many of our existing markets across the country -- particularly in Northern and Southern California and the Southwest -- and enables us to enter important urban markets like Chicago and Philadelphia for the first time. Additionally, we will enter the stand-alone drugstore business for the first time.

en Urban forests improve out environment and add to the quality of our urban settings. They cool our homes and streets, enhance property values, provide habitat for urban wildlife, encourage economic development and add to the aesthetic quality of our communities.

en What intrigues me about it is if you really want to create a dominant urban network that really stresses diversity, you combine a cable station like BET with a network television station focusing on urban markets like UPN, ... It would be a very attractive venture.

en Our urban neighborhoods were being overlooked by traditional investors. Too often these inner-city markets were being written off as places of risk, ... The private markets and private capital shunned these areas.

en There?s a demand right now for upscale urban living. The market is strong for rental loft apartments and condominium units.


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Denna sidan visar ordspråk som liknar "With our focus on upscale, full-service brands in major urban markets, we benefited fully from the continuing growth in transient business demand and the increased competitive strength of our portfolio. We are encouraged that the development pipeline remains conservative, especially in urban markets, where barriers to new competition are the highest.".