INDUSTRY CONSOLIDATORS -- Economy Ends M&A Frenzy

Reilly: I think there is little doubt about that. In an economic downturn there is always a very viable request by shareholders to be husbanding cash more than they would during growth periods. It is a very natural reaction in this environment.

Davis: I think the condition of the economy concerns everybody. I am more worried about running a company, what impact the economy is going to have on our company today and the impact it will have on any company that we are acquiring. Certainly the economy is a concern to all of us.