[00:02.76]Good morning, ladies and gentlemen. I know that for decades we focus a lot on big businesses.
[00:10.82]But learning from your comments on the service industry and its growth—in fact,
[00:14.55]I know that small businesses have been doing the hiring when we see the big beadlines of job losses here and there.
[00:21.57]The state of the economy, Tom, and international outlook, where are we going?
[00:27.06]Well, that's a very good question. My worry about the economy is we're just sitting around waiting to get going.Wait and see.
[00:36.92]And you can't blame the boards of directors and the CEOs because it's not been a fertile environment,
[00:44.45]but it is a great time to get going and get on with making some significant investments.
[00:50.48]Bill, comments on that?
[00:53.36]Tome is right. Exports have got to grow if we're going to get this economy going.
[01:00.99]We are importing a lot more than we're exporting. And everybody in this room is interested in doing more of that.
[01:08.48]You know, a billion dollar's worth of exports creates 20,000 American jobs.
[01:15.17]David, how about you, your joint venture between two really big fiancial powerhouses focusing on small-to-medium-size businesses in the Midwest and west,
[01:27.20]how does globalization affect those businesses?
[01:30.79]Well, whether it is on the import side or the export side, almost every small business has been involved with globalization,
[01:40.58]in one form or another. So, as the market, as competition comes,
[01:46.75]the ability to do business globally is very important. It's very critical for us.
[01:52.83]Well, Nat, what's your insight into outside competition?
[01:57.87]Well, you see, we have been blessed in this country with a large marketplace for anything.
[02:03.46]But the problem of the globalization is if you do not take business outside the shores somebody else will come and eat your marketplace.
[02:13.15]So, for us, it is just a question of where we decide to compete, within the shores of this country or somewhere else outside,
[02:22.74]and the farther we go outside, the better off we are in protecting our home base.