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(generated from captions) of the biggest airlines in the

world in the United States. I

think Qantas, after I leave,

will take part in it. It has to

be a maturity in the thinking

about that. Qantas will be

Australian, the Kangaroo will

be there, the majoity of jobs

will be here, this is where the

DNA is, we need to global

globalise as well.

When you became the head of

Qantas in March 2001 commentators noticed you took

over at the lowest ebb, rising

oil prices weak dollar, slowing

economying given what has

happened since and today's

global economy do you look back

and say, "The good old days",

not really, it's an interesting

ride. This industry is very

much a volatile one. I have

enjoyed it. I won't - I made a

comment I won't repeat it, it's not good for national

television, I thought back then

it would be tough, I'm now

handing to Alan Joyce, a great guy, I think it's going to be

as tough. I will emphasise,

Qantas is in a marvellous

position to ride this out. Any regrets. I have regrets,

someone asked me, I am not

going to put them on National

television. Look, I don't

believe in legacies or things

like that, I got a company,

worked with a lot of very good

people, I think the company is

in good shape to go forward, I

think if there's a legacy,

that's it. Geoff Dixon, thank

you very. Thank you very:

Australia's women water polo

team won a battle with the

Hungarians to clinch the bronze

medal. To discuss this and the

rest of the day I'm joined by

Peter Wilkins. We won a gold in

water polo in 2000 and this

time around. A fantastic

performance, against Hungary,

the first match was notable for

the coach giving the officials

a spray because he was unhappy

with the officials, and

coincidentally the score was

7-7, the score between the

Stingers and Hungary this time.

The Stingers away to a bad

start, they led 2-0, but then

behind 5-2 against the

Hungarians, it was on, and

looking a little dubious, but

then with just eight seconds to

go, Rebecca RIPPon planted the equaliser, penalty shoot-out,

there is the goal, and here is

the save from Emma Knox,

winning them the bronze medal,

and the coach, well, Greg

McFadden a spray last time, a

dip this time. They win the

bronze, a terrific performance,

the final score, five misses in

the penalty shoot-out. They won

12-11 over Hungary. The Netherlands taking the gold

medal weight beating the

USA. Good news for Australia in

the sailing. The sailing has

been a highlight for the nation

this time around, in Athens a

drought. Now they have won two

gold and a silver today coming

in the tornado class. Going

into that match race the

Australians, the final race,

the Australians needed to

finish a couple of places ahead

of Spain to win the gold medal.

It was really on. Testing

conditions out there. But the

Spanish nipped ahead. No matter

how hard the Australians tried

Darren Bundock and Glen Ashby,

they did manage - look at that,

that's incredible stuff. Great

Britain took the event, but the

Australians finished in fifth

position, Spain finished

fourth, to take the gold medal

and Australia a fantastic

performance for silver, and

Darren Bundock won a silver

medal back in 2000 as well.

Two silver medals, and the

Australians, as I said two

gold, one silver.

Fantastic. Now the American swimming star Michael Phelps

has been the undisputed star of

the games, running a close

second is Usain Bolt. Yes, he's

been in unbelievable form, he's

really - well, he's a fireworks

show on his own in the main

Jacques Rogge the head of the stadium, winning the 100, 200,

IOC was a wet blanket saying

he'd like him to stop show

boating and parading, in

brilliant form, not too much

show boating, broke the world

record, absolutely terrific,

tonight Veronica Campbell-Brown

immediate made it a sprint this

time and last time in 200 and

100, Jamaica a clean sweep of

the sprints. There's been a

doping scandal. There has, yes,

four horses have been outed for

doping before the individual

showjumping event in Hong Kong,

from Brazil, Germany, Ireland

and Norway. For pain-killers,

they apply a paste to the horse

's leg replicate a chemical

form of wrapping, which is when

the horse is - legs are hit to

bruise them, so when they are

bruised they want to jump the

jumps, of course, because if

they hit them they'll be in

pain. Brazil, Germany, Ireland

and Norway out, that changed

the medal con figuration in the

team show jumping, and will

alter the course of the

individual, by is on as we

speak. A scandal there. The

equestrian is under a cloud,

there were a couple of

incidents in Athens at crucial

moments, at least one in the

jumping event costing the gold

medal for Germany. Drama in the

4x100 relay. In the first heat,

four nations dropped the baton,

including the United States in

the 4x100 men's, this is

schoolboy stuff. There was a

bit of moisture out there.

Tyson Gay the last runner for

the United States dropped the

baton, and four - South Africa,

Poland and Nigeria lost in

that. In the second heat Great

Britain, six teams dropping the

Baton, Australia didn't have a

team, perhaps they should have

qualified, they may have been

in with a chance. We should be

out there, we can do better

than that. A pleasure to have

you in. Good on you

Leigh. Thanks very much.

There may be a bit of relief

for hard-pressed home owners on

the way after National

Australia Bank buckled under

pressure breaking ranks with

competitors. NAB pledged to

pass on interest rate cuts to

customers, here is the fine

print, the promise extending

only to a quarter of a

percentage point. The pressure

is on other big banks to follow

suit, none have been willing to commit. It hasn't happened yet

already one bank is

gloating. NAB will be pleased

to announce a interest rate cut

along the lines of the Reserve

Bank if they were to do so in September. The Reserve Bank has

been widely tipped to cut rates

at its next meeting. The

commercial banks have hedged

their bets as to whether they'd

pass it on to customers. The

NAB is declaring it

will. There's no question it's

on the top of a lot of people's

minds as to when they can get

some relief and the Reserve

Bank, I feel, is sending a

signal that it's intending on

doing so, nothing gives me

greater pleasure for us to

follow suit. It's music to the

ears of the Treasurer. This

decision by the NAB throws down

the challenge to all the other

banks, other banks should have a good hard look at themselves. So far none of the

other big banks committed to

follow suit. The nation's

biggest home lender says: Westpac would:

The ANZ:

St George says:

They have passed on rate

rice insist a nanosecond, they

have a responsibility to pass

on rate cuts when they come

through the system. I would

like to see Wayne Swan fronting

the banks, eyeball ing them and

the Chief Executives in a

serious and public way to make

sure they pass it on. But for

all the prays it's receiving

the National Australia Bank has

a get out of jail free card

stashed up its sleeve, it's

only guaranteeing to pass on a

quarter of a percentage point

drop, pets are off if they go

further. If on the off chance

they'll do 50 basis points

we'll see how the market

reacts. If the reserve cuts the

rates Wayne Swan will be under

pressure to make sure they are

passed on. His old sparring

partner weighing in pointing

out the banks didn't increase

their rate margins during his

tenure. Peter Costello was

guest at the opening much his

friend Helen's office in

Melbourne. Have a good day. The

formally Treasurer talked about

his future. His answers left

things as confused as ever.

When asked if he'd challenge

for the leadership Mr Peter Costello said:

It's what he didn't say that

matters. Peter Costello wasn't

asked whether he'd accept the

leadership if drafted by his

colleagues, or if he plans to

retire. We had a chat about his

future, what we are doing, he'll announce that when he's

ready to do so. It won't be

long. Possibly not long for

Brendan Nelson either. Now

tomorrow's weather: cold and

windie, showers in the

south-east, sunshine and a top

of 19 in Perth. That's all from us, 'Lateline Business' is

coming up in a moment. If you'd

like to look back at the

interview with Geoff Dixon or

review any of the stories or

transcripts, visit the web site


Virginia Trioli will be with you tomorrow night. I'll see

you next week. For now

'Lateline Business' with Philip

Lasker. Tonight - blood on the

floor, Babcock & Brown say

goodbye to Phil Green and Jim

Babcock. Phil is moving to a

non-executive director role and

doesn't have an office in the building, he'll act in the

usual way that a nonexec

director does. They are

diversifying too quickly into

too many parts of the world,

adding up to risk. That as

property giant Lend Lease looks

for new direction, taking a 50%

drop in profit. In Tiger

Airways takes aim at Qantas's

record profit announcement It

shows there's an opportunity

for true real low cost competition in Australia.

First to the markets and a

series of disappointing

earnings pushed Australian

shares into the shares into the red.

All Ords shedding 1%, falls

in finance outweighing gains in

the mining sector.

The credit crunch claimed executive scalps at financial

group Babcock & Brown, after

days of speculation the Chief

Executive Phil Green and his

Chairman, the company founder

James Babcock have stepped

aside. But they haven't exactly

fallen on their swords, both

remaining on the board as

nonexecutive directors with 12

months salary. The crowning of

a new Chief Executive, Michael

Larkin, and the announcement of

strategic reviews came as the

company announced a 24% decline

in half year profit and

investors suffered a 35% drop

in the share price. Desley

Coleman reports. Four years

ago Michael Larkin joined

Babcock & Brown as Chief

financial officer, today he faced investors as the Chief

Executive. It's a change, I'm

very committed. It is a superb business. I wouldn't take this

role if I didn't think it was

the case. Babcock & Brown in

its various satellites felt the

pain of the credit crisis for

the last 12 months, under the

weight of a tumbling share

price, falling from a high of

$35 in June last year Babcock &

Brown had to do

something. Michael Larkin

steps in for Phil Green, the

company founder and chairman

James Babcock will be replaced

by executive director Elizabeth

Nosworthy, but grooep and

Babcock won't be far from the

action, retaining salaries,

moving to non-executive

director positions. You don't

want everyone to leave. You

have the corporate memory. You

actually want to keep the

people that were involved in

building the firm firm as close

to you as possible, when you

are working through things

going forward you can use their

expertise to help you get

through. In order to remove

the managers, investors would

have to pay 25 years worth of

management fees to Babcock &

Brown. That is ridiculous. The

management says that keeping

intoth Phil Green and James

Babcock on as non-executives is un conventional but

necessary Phil is moving to a

non-executive director role, he

doesn't have an office in the building, he'll act in the

usual way that a nonexecutive

director does. I'll be pleased

to have his guidance and support, as a non-executive director. The blood-letting

doesn't stop at the top. 25% of

Babcock & Brown's 1600 staff

will lose their jobs. A long

with the internal shake-up the

new team announced a significant review of the

group's business. There are

four key messings, it is

focussing the business, it is

ensuring that we have an

appropriate cost structure,

ensuring that we use our

balance sheet, to the benefit

of the long term investors in

the funds, to our shareholders,

and aligning the compensation structures with the

employees. The plan unveiled

behind closed doors includes a

focus on the infree structure,

real estate and leasing

business, a change in the culture and corporate

Government structures and

urgent debt reduction. The bank

should have spotted the

weaknesses and the board and

operating structure, diversify

ing too quickly to too many

parts of the world adding up to

risk. A risk shared by 25 banks, including Australia's

big four, which are all exposed

to $9 billion of debt. The

group, as a whole, including

various listed and unlisted

funds is laden with a massive

$50 billion in debt. The banks

should provide better corporate governance, the directors

should have, had limits,

because at the end of the day

the reason they are in the

trouble is because they

couldn't honour their

obligations. The company's half

year result was gloomy, first

half year profit $150 million,

down 24%, after scrapping the dividend Babcock & Brown

expects conditions to be extremely difficult. Analysts

say while the company is not

insolvent it is in crisis,

assets will have to go.

Investors want to know how long

the revival will take. It's a

fair question. What is

important is that shareholders

from the outset get a very

clear understanding that we are continually working towards the

actions that we have said

today. It is not a point in time, it is a continual

process, and as I said today, earlier, we are giving

ourselves a direction and

people should judge us against

that direction. Meanwhile,

Wesfarmers delivered a record

profit of $1.05 billion,

boosted by the takeover the

troubled retail giant Coles,

the full year result up 34% on

last year, but below market

expectations with the Western

Australian gas crisis and a

tightening economy keeping a

lid on earnings, the company

using the profit announcement

to weigh into the debate on

retail trading hours in WA

calling for full de

regulation. What we have is an

absolute hash of things.

There's no rhyme nor reason to

it. It's politically driven.

Poor policy and leadership on

retail trading hours. Customers

should have the

choice. Investors are worried

reviving the coals group may

take longer than expected. Wes

farmers shares dropping 5%,

closing at $32.90. Gunns shares

remaining in a trading halt

until next week while they

finalise capital raising, $300

to $400 million through a share

offer. Since the down grade

their share price fell

25%. They need to fix the

balance sheet. They need to

raise funding because their

debt to equity, the amount they

owe and what they are worth is

out of kilter. Gunns is likely

to address governance concerns

with Chief Executive and

Chairman John Gay preparing to

step down from one of his roles

in the next 12 months. Other

major movers on the market.

Amcor sliding 1% despite

earnings meeting market

expectations. Earnings and a

prediction of double digit

growth saw Downer EDI advance

over 5%.

Tensions between Russia and

the US have seen crude oil

climb above $117 US.

A profit result approaching

$1 billion is one reason Qantas

is the envy of the aviation

industry, it's a far cry from

the numbers Shelley Roberts is

dealing with at budget carrier Tiger Airways, there's

speculation that Tiger is

haemorrhaging money, and its

major investors, Singapore Air

likes, ind igo partners and

Ireland's Ryan family are

getting restless, I spoke to

Shelley Roberts a short time

ago. Lancs for joining

'Lateline Business' much Qantas

reported a 44% jump in profits

to almost $1 billion, wouldn't

you like to be in their shoes. Yes, I think it's

fantastic, it shows there's an

opportunity for true real low-cost competition in

Australia. It's good news for

us, it proves the opportunity

is there, if we lower the fares

in Australia by $25 that would

put $1 billion in the

consumer's profits. One

commentator says Qantas flies

into the turbulence in better

shape and more options than

competitors, and with the

ability to dictate terms to its

competitors, that makes sense,

doesn't it? Well, what's fair

to say is the different

airlines operating in Australia

have different models, the

Tiger model is true low cost,

we are able to continue growing

while others are having to cut

their capacity. How do you do

that? It's about a true low

cost model. Whilst other

airlines design in cost and

layer in complexity. We are

all about designing out cost.

We keep the process and the

business as simple as possible,

all we want to do is transport

passengers to their destination

on time, safely and at the

lowest possible fa. That's what

we are about. Are you faking

money in Australia. We are

doing well, we have full planes

and are continuing to expand,

growing by 75%, we'll have

three aircraft coming into the fleet in the next six

months. You are not necessarily

making money. We are absolutely

sticking to the business plan

and are pleased with the

performance so far, that's why

we are continuing to grow. One

report suggested that you have

lost about $23 million in the

first four months of operation,

is that the case. Yes, we are

cogniceant of the games our

competitors play to get us to

reveal numbers, we won't fall

for that. What I tell you is we

are continuing to grow, we are

optimistic about spreading the low-fare revolution in

Australia. Is that amount wide

of the mark. It's speculation

at this point. We haven't

published our figures for

Australia. What I can tell you

is our sister company in

Singapore posted a profit of

$38 million last week. Your

contribution was negative, was

it not. That's speculation,

until the figures are published

I won't comment on that. The

perception is that you are

haemorrhaging That is

incorrect. We are growing and

have the A list of the aviation

investors on the board.

Singapore Air likes, Declan

Ryan from the Ryan family and

Indigo business and there's no

way they would continue to let

us grow if we weren't growing

in the way we want to

be. That's a suggestion that

your major shareholders,

Singapore airlines among them

are impatient and keeping a

closer eye on you, is that the

case. I attended the board

meeting in Singapore and have

been in communication with the directors subsequent to the

announce ment of our base, they

are delighted with the performance of the Australian

business. There's no suggestion

that your investors are losing patience. Absolutely not, I

have the support of my board. Virgin Blue and Qantas

say the next 12 months will be

difficult because of oil price

asks a slowing economy. They are cutting back capacity, you

are increasing it. What you are

doing doesn't make sense, does

it Absolutely, these times are

opportunities for us, my

experience in Europe with

easyJet bears that out. During

these times people with the

right business model will win

those with the wrong will lose.

Statements about the aviation

industry are made over all.

There'll beginners and losers,

we are not here for the sprint,

but are here for the marathon,

we grow because we have the

only true low-cost model. Shareholders are willing

to lose money for a while

longer. My shareholders have

gin me pa strategy, I have

agreed that and am implementing

that. A strategy of

growth. When does a company

become profitable. We are a

private catch. I won't fall

into the trap of talking about

the financial, when we put them

out there we'll talk to that. I

have a very clear read of it.

We are continuing to grow. Are

you hurt by oil prices. Our

ability to deal with the oil

prices is much better than

other airlines, because we

really have such a simple model

and we don't have the other

costs and the other

complexities that the others

do. They need to strip those

out. We can concentrate on

offering low, low fares. Over

the next 12 months or so will airfares fall because of your

presence in the market. The

facts are speaking for

themselves. Since Tiger

entered the market fare levels

in Australia have declined, and

I would absolutely expect that

to continue. We will continue

to lead that. Shelley Roberts

thanks for speaking to

'Lateline Business'. Thanks,

Phil. Babcock & Brown wasn't

alone in flagging changes at

the top. Property group Lend

Lease is searching for a

successor to Group CEO Greg

Clarke, the news not coming as

a surprise as they and many

others reported results today.

Michael Troy has the

details. Unlike at Babcock &

Brown, at Lend Lease it's

smiles when there's talk of the

CEO leaving. What you are

thinking of doing once you

leave Lend Lease, if you go

back to the United Kingdom.

My aspiration is to get a COE job in Australia, I had a

wonderful time, it's a wonderful country, great

business environment. I'd crawl

over broken glass to get a job

here. Greg Clarke led the giant

for six years and happily

admits the search is on for a

new CEO. I haven't resigned, been terminated or given

notice. I won't go until the

right candidate is found. I

could be here for the next year

or so. Executives admit the

company has been let down by US

and European projects where

house prices have fallen, a

strong Australian dollar has

had a big impact. Profit after

tax was $265 million, a drop of

nearly 50% on last year. After write-downs operating profit

was up 8%, to $447 million. The

company says it's in a strong

financial position despite the

tough times. We decided not to

borrow lots of money and spend

it on overvalued assets and

businesses two years ago when

everyone else was. There's one

risk the company is looking

forward to. Lend Lease has been

chosen to develop the $13.2

billion Olympic Village for the

London Games, negotiations over

risk sharing have stalled. We

are doing the right thing, working with them to deliver

it. When the credit market is

open we'll borrow money and

take a risk decision. QBE

reflects on a year where the

risk from natural disasters was

in their favour. The US saw

their share of windstorm in the

first half, apart from that not

too bad. There was no escape

from the high Australian dollar

and credit queez, first half

profit down 7% to $851

million. QBE remains cautious,

they have a history of

acquiring other companies, it

abandoned a bid for IAG. They

play a game of waiting, while

prices deflate to find the

right opportunity not at the expense of profitabilitiy. The

market approved of Fairfax

Media's expansion strategy,

shares closing higher after the

first full-year of reporting

following the merger with rural

press. The company's full-year

net profit up 47% to $387

million g In a tightening

economic market, that is a very satisfactory result for the

organisation. Fairfax admits

there is more space to report

news. Advertising revenue

slowing with the general

market. In another sign the

economy is slowing more than

400 workers will be sacked at

Broken Hills major lead and

zinc mind. Perilya saying low

metal prices meaning the work

force has to be slashed by

half. 440 workers losing their jobs will get full

entitlements, Perilya will

slash zinc production in half

and wait for a rebound in

commodities before getting back

to full operation. Regret ably

as a result of that

downsidesing we will reduce our

work force from 760 to 320

individuals, but it does set

the operation up to remain

viable and sustainable going

forward. In Hobart Cadbury to

sack 160 workers and spend $50

million upgrading its plant to

make only block

chocolate. Telstra has rejected

an offer of substantial equity

from a rival consortium bidding

to build a national broadband

network. Ter orrier, a group of

eight medium and small telcos

said the deal with ensure the independent management of the

network. In a blind statement

Telstra said it wasn't

interested in playing lovey

dovey with its competitors. Australia's

geothermal industry received a

boost. The Government pledging

millions. Financial backers are

hard to find outside of

dedicated green funds. Neal

Woolrich reports. The desert

plains of South Australia are

becoming a new frontier in

Australia's mining boom, but

these diggers aren't looking

for precious metals, instead

testing for hot rocks, the kind

that could fire an emerging

power source geothermal

energy. I would think in a

short period of time with the

proper support and success in

the field, that geothermal

could play a major role in

providing base-load power in

Australia and the United

States. In volcanic regions

geothermal plants take hot

water and steam from underground driving generators

and creating electricity, in

other places like Australia

companies are trying to develop

a technique to pump water below

ground heat to 250 degrees

bring Territory Government to

the surface to drive a turbine,

industry participants argue

plants could be close to the

electricity grid cutting down

on distribution costs. For the

current outlook it's difficult

to see us replacing coal

together. Geothermal is base

load, it will be large and

potentially site close to the

existing infrastructure and

cities. 1% of Australia's hot

rocks could generate 26 times

the amount of energy used each year, it's estimated.

Proponents say it's a clean

form of energy and claim that

the process could bring

contaminated water to the surface. The industry is

finding it difficult to be

heard among the clamour of

alternative power sourcesism

there isn't political will to

do anything about it. When I

was in the United Kingdom

assessing this potential in the

1980s we worked it out the

United Kingdom has a potential

of supplying 10% of the United

Kingdom need for over 200 years. The industry consulting

harm Hot Dry Rocks says there

are 10 geothermal companies

listed on the Australian Stock

Exchange with a market value of

half a billion. But it's a

capital intensive business and

has an element of mining risk.

The Australian Geothermal

Association says it would cost

$12 billion to develop 40% of Australia's renewable energy

target by 2020. To drill wells

to four and 5km will cost in

current estimates possibly

$10-$15 million, including the

fracturing we need to do and

well test, that's a big hurdle

to get the geothermal fields up

and running. The Federal

Government committed $50

million to the industry,

granted to cover companies

drilling costs. Green energy

funds have been enthusiastic

backers, but mainstream

investors are slow to come to the party even though

proponents say it can provide

clean energy over a borrowed

area. It has a long -- prood

area, it has a long way to go

before it's a risk free

technology, a total investment,

interest rates and equity rates

can return. Iceland is a

country able to harness the geothermal advantage. Almost

two-thirds of its primary

energy is geothermal, that's

been driving economic

growth. We have been attracting

a lot of energy intensive

industries to Iceland to put up

shop in Iceland to utilise not

only relatively affordable electricity but green

electricity. That may provide a

powerful incentive for

Australia's Hot Dry Rocks

pioneers to develop a

technology to work outside

regions and become commernally viable. On-Sunday night the

Closing Ceremony of the Beijing

Olympics takes place marking

the end of the most expensive

Games staged. High profile

corporate sponsors spent record

amounts to be associated with

the Olympics. Charlotte Glennie

looks at whether they expect

their investments to return gold. China's vast numbers of

consumers have the potential to

drive growth for decades to

come, the Olympic rings are one

of the world's most recognised symbols, anunbeatable

combination for a sponsor. I

expect or wish to have

enhancement of 10% after the

Olympic Games. I wish to

accomplish that. I am not sure

yet. Samsung is one of a dozen

top tier Olympic sponsors

sparing no expense setting up

halls within the Olympic green,

including five ancient Terra

cotta warriors. They had

trouble attracting visitors. In

the Winter Olympics, you are

exhibition hall located outside

Olympic green. It's a bit more

open. Here it's a lot of tight

security. For the first few

days the whole area behind the

security barrier was closed to

the general public, much to the

frustration of big spending sponsors. Now there are

certainly a lot more people

passing through, not as happy

as some would like. The rules

for getting into the restricted

area were loosened several days

into the games, but passes are

available only to Olympic

ticket holders and carefully

selected residents. For smaller

businesses there are networking

opportunities across the

city. We had over 40 events,

over 3,000 people come

through. Oz trade invested $2

million promoting Australia

here, hoping for returns and

contracts worth up to $800 million. It's Beijing Trade

Commissioner says it's too

early to know if targets have

been reached but the promotion

has been worth while ex We had instances where people have

been --. Able to leverage

relationships with larger companies. 40 companies got

over 50 deals over the last

five years. It hasn't been the

boom. The Olympic times local

customers go out for travels

and the traffic is not that

much good because people - the

cars are stopped half and half

day by day. Beijing poured $45

billion into the games,

economists say it's no reason

to fear a post-Olympic

slump. If we spread out the

amount it accounts for less

than 1% for attempt investment

in China, over five

years. These have been the most

expensive games, leaving huge

infrastructure, and China is

better known to the outside

world. Now a look at tomorrow's business diary:

Before we go a look at what's

making news in the business

sections of tomorrow's

newspapers: The Age says corp

leaders are less confident

about the health of the economy. 'The Australian' leads

on the profit from quantities, the 'Australian Financial

Review' says Richard Goyder is

planning cost cutting and the

'Sydney Morning Herald' leads

an Babcock & Brown efforts to

regain investor confidence.

That's all, as I leave you the

Dow is down 90 the FTSE steady.

If you want to review any part

of the program visit the web

site where you can watch the

program on Line. I'm Philip

Lasker, have a good night.

Closed Captions by CSI.