Ronald M. DeFeo: We do report 12 months. Our backlog for 12 months is as reported; there is a small amount beyond that that we have that is not reported.

Jamie Cook (Credit Suisse Securities): If you were to compare this year versus last year would a lot more go beyond the 12 months?

Ronald M. DeFeo: It is steady state like it was a year ago.

Alexander Blanton (Ingalls & Snyder): On the customer consolidation, you said within the UK in the AWP business those were rental fleets. Could you give details on what exactly that was?

Ronald M. DeFeo: Our market in the UK has really seen a consolidation in the last 90 to 120 days where 2 or 3 companies have being merged together. The acquiring company is evaluating the fleet overall and is assessing what their needs are going to be as they go forward.

Tim Ford: In the short-term it causes orders to be cancelled as fleets get rationalized. I would rather have that happen than for us to continue to push inventory into the marketplace that is later going to be rationalized with a more disruptive downturn. What we are seeing is a much more thoughtful and analytical approach to fleets, to mergers, to combinations than I have seen historically. We are seeing companies that do not go up to the edge and follow. We see companies that look at the marketplace and say the market is changing, therefore we are going to change and we are going to make our company stronger.

Alexander Blanton (Ingalls & Snyder): Could you give the names of those companies that have merged together?

Tim Ford: We do not want to do that. I do not think that is appropriate for us to do.

Alexander Blanton (Ingalls & Snyder): Could you give details on A.S.V?

Ronald M. DeFeo: When we say A.S.V. is doing well, it is doing well against the golden objectives that we have set for ourselves. We want A.S.V. to be an important contributor to the Terex Corporation. We have specific things we want to accomplish with that business, both to build the franchise in North America, to expand it more globally, to help integrate some of our other products, and we were the leadership team that is there and with their openness and willingness to participate in the same golden objectives that we have. In our opinion doing well at this stage is about seeing the same opportunity and at attacking that opportunity with passion and vigor. We do think that the US housing industry is down. We are glad we did not go along with the number one franchise in that industry because we think they will have a difficult time in the short-term but we think that provides are as opportunities.

Robert Isaman: We currently have A.S.V. in the Terex integration process, but if you look at their platform and their technology, there is a lot of runway to take their undercarriage technology integrated with our current light construction product line. There is tremendous opportunity to use the A.S.V. base in Minnesota as a manufacturing platform for the Americas, which will help to offset some of the FX risks that we have. There is tremendous runway for us to move that product line into Europe and they have recently got certification in Europe.

Alexander Blanton (Ingalls & Snyder): Have you done anything about that in terms of moving their business overseas?

Ronald M. DeFeo: Yes. We are into this less than two months.

Charles Brady (BMO Capital Markets): You highlighted the RT cranes as having a backlog not priced. Can you comment what it looks like beyond the 12 months for crawlers and for the all-terrain crane market?

Richard Nichols: We have build slots scheduled for our customers on the all-terrain cranes and the crawler cranes out through 2009 and into 2010 in some cases. We do have escalation built into protect this on price in most cases, so we are booked out further than the current backlog.

Ronald M. DeFeo: Our backlog is a 12-months backlog, it has product that we expect to deliver. In addition, we have that $210 million that we highlighted, but we do have customers that are reserving slots well past the next 12 months. What that tells us is two things, one that the opinion of our customers is that they expect infrastructure related projects to remain strong because it is mostly the big cranes that work. The kinds of things we are talking about is cranes to build nuclear power plants, cranes that build wind power, cranes that move massive bridges and it is the type of cranes that are not available from many other manufacturers in the world. If you are in the business of renting and positioning those cranes, you want to get build slots. It also tells us that in this crane business, we have to work to increase our capacity because customers waiting three years for cranes, if they can find an alternative are also not a particularly good position to be in.

Charles Brady (BMO Capital Markets): With regard to the capacity increase within Cranes and also in the Mining segment, would anything you are contemplating have an impact on 2008 or is that 2009 and beyond impact?

Ronald M. DeFeo: Primarily 2009. We should have some minor late fourth quarter 2008 incremental help on some primary fabrications, et cetera, but it is primarily 2009 and 2010.

Charles Brady (BMO Capital Markets): How do you define a temporary shortfall and when you might expect the volume opportunity and cost reduction opportunity to come through on the Motherwell, Scotland facility?

Robert Isaman: What we did in Motherwell, Scotland was we took two manufacturing lines that made artic. Articulated off-road trucks and combined them into one mixed-use line. We did that to free up space to be able to manufacture more rigid trucks in order to put more throughput through that manufacturing facility, and whenever you do that you have a temporary disruption in your ability to produce. That is a short-term one-time issue and we expect the second quarter to be back up higher than where we thought we are going to be in the first quarter.