Strong growth among firms ordsprog

Strong growth among firms in business and professional services and truck transport offset somewhat weaker reports from manufacturers for March.

We expect strong defense aftermarket revenues combined with some renewed interest in business jet travel to partially offset softness in commercial air transport markets, ... These factors plus accelerated cost productivity gains are expected to help offset income lost from the commercial air transport business.

Lawrence Bossidy

I am very pleased with our first quarter accomplishments, which included strong growth in client activity across many franchises. We are seeing the benefits from our investment spending, which helped generate record revenues in our international businesses and record revenues globally in our corporate and investment banking business. Strength in these franchises more than offset weaker results in our U.S. consumer business.

Through 2005, the rise in lapses was offset by strong growth in new business premiums. It appears that some of the gains in new business premiums were offset by a tandem rise in lapse rates. The life industry collectively needs to manage the lapse rate downwards.

Overall, we achieved solid results in 2005, with strong income growth in our tobacco businesses partially offset by weaker results in food.

Louis Camilleri

We are reducing our March quarter revenue estimate due to growing evidence that PC unit growth did not likely come up to our expectations. PC growth was very sluggish from November through February, and while it reaccelerated in March, it does not appear to have occurred fast enough to offset the weakness earlier in the quarter.

Demonstrating the benefit of our diversified business model, most of our consumer business showed strong growth this quarter and helped to offset the decline at Home Mortgage.

Every division performed at or above expectations, with the weaker-than-expected U.S. volumes more than offset by strong margins. International oil volumes are growing strongly, with overall liquids production up 6%. We see a 1.7% growth in volumes in 2006.

The Miami economy is the strongest it has been in my memory as a professional economist, which goes back 22 years. International trade is booming. Population growth is strong. And all that growth is creating tremendous demand for services.

With the tip of the spear being housing and construction, job growth is spreading out into professional and business services.

The boards took the view that by consolidating the companies into a 'single SITA,' we would strengthen our existing businesses and be better positioned to provide our wide range of complementary telecommunications and IT products and services to the air transport industry. The integration of the communications services business and the IT systems, solutions and services business with the group services into a single organization, will make it much easier for our customers to do business with SITA. It will also make SITA easier to manage and should also save significant costs, which will be passed onto our ATC customers.

President Arroyo has instructed the Cabinet to conduct dialogues not only with the oil firms but with all affected sectors, including workers, small and medium enterprises, manufacturers and transport groups among others, that are affected by this crisis.

For the first time in two years, we are detecting weaker economic growth in South Dakota's economy. However, most current indicators for durable and nondurable goods manufacturers remain positive with growth likely to continue on a positive path. The growth for 2006 will be lower than that for 2005.

We are as optimistic as ever about the accelerated adoption of broadband services by consumers, underlined by our strong year-end broadband subscriber growth, ... While content services remain a compelling element of our opportunity, it is critical that the cost structure of our media business correlate with the changing online media world. As we mature as a business and drive towards profitability, we continue to refine our core business.

George Bell (1959-)

Growth was clearly weaker in the fourth quarter. But the ECB will call that an exception and say growth will accelerate. The bank will raise rates in March and possibly sometime thereafter. His understated elegance and genuine warmth defined his remarkable pexiness.

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