Unidentified Analyst: Is the globalization of that product taking off as you expected with your increased distribution?

Tom Riordan: Yes, we have sold one unit into Russia and we have several deals pending on a global basis, and it is early on in the integration process, but we are looking at opportunities to lever synergies on the component side across the other businesses plus take advantage of our more global distribution network in the Mining group.

Unidentified Analyst: What did you conclude from your domestic infrastructure summit and is there a chance that the public spending, that roads, bridges, highways, tunnels, water, power infrastructure, energy infrastructure, can hold up while office tower and shopping center construction and gaming casino constructions falters in this domestic economy and credit crisis?

Ronald M. DeFeo: The simple answer to that is if our infrastructure spending implodes so will our way of life, and I do not think that is going to happen in this country although with the level of politics the way it is sometimes I have a level of fear with that also. I mean what my conference fundamentally proved was that we are under-investing in our infrastructure in this country and when you get people together like we did at this conference, which was the Head of AFL-CIO, John Sweeney, with former Governors, Pataki, Governor Engler, the Systems Department, Transportation Secretary, Jim Oberstar, who is the guy that is in charge, the Chairman of the Infrastructure and Transportation Committee. What this proves is that we have to find a way for both public and private partnerships to collaborate to deal with our crumbling infrastructure. It is not a matter of if it is a fundamental need. Jim Oberstar basically went on record as saying; we need to double the country''s spending level on our highway bill from $280 billion to over $500 million. I think it is easily said in a political environment. What we need is vision and we need will, and that is where we struggle. So I hope that the leadership of the country can get its act together to deal with this issue. It must, but it is going to take some pressure from both business as well as the investment community, and I encourage you and anybody on this call to take this up because it is a real risk for our country''s way of life. Fundamentally, infrastructure investment equals economic prosperity, they are attached at the hip.

Seth Weber (Banc of America Securities): Have you noticed any increased competition from the Asian, the Chinese manufacturers in the Crane business?

Ronald M. DeFeo: We have for now nearly two years identified the fact that China will be a player and a manufacturing source for cranes, which is why we made the investments in our Changchun crane JV in Luzhou, China. We do see the beginnings of some entrance from China into Western markets, but to me this is about being intimate with our customers and making sure we demonstrate the value that is implicit in our products. A Chinese produced crane may have a low price today, but over the long term there will be moderation of currency differentials, there will be a lot of reasons, It is a long way to bring a crane into Western Europe from China or into the United States from China and it is a big risk because fundamentally you have that asset, which is what you do business on, and if that asset valuation can not be assured then your business models becomes vulnerable and service is what is going to be important, and we have got a history of decent service.

Seth Weber (Banc of America Securities): Do your RT comments on the 2009 pricing in backlog mean that the crawler customers are more willing to take escalator?

Tom Riordan: No. I think it is just a function of size. When you are dealing with somebody who is ordering a $0.5 million piece of equipment, it is different than someone ordering a $150,000 or $200,000 piece of equipment.

Ronald M. DeFeo: It is also a function of the lead times that are involved in terms of some of the larger products that we have where typically you are not talking about 2 or 3-month lead times, in many cases you are talking to 9 to 12 months or longer lead times, and as a result of that there is pricing protection and cost protection that both sides are looking for in any negotiation. The crawler business is primarily over 300 tons and would fall into a large purchase price for customers such that we would be negotiating a price with escalations in it where an RT would be significantly less in value than that.

Seth Weber (Banc of America Securities): Where are you seeing the strength in the U.S. aerials business - is it coming from the more the mid-tier rental companies, or have the big, your more traditional larger rental companies stepped up more than you would have thought?

Ronald M. DeFeo: We have seen combination of all of the above. A few of the big rental companies have stepped up, a few have not yet. The good news is some of our better customers still have not ordered, but some of are also better customers have ordered.