We are forecasting that actual capital expenditure growth will likely come in at or below 10 percent. Therefore, we are cutting numbers for 2001 across the board.
I think the cycle going forward is going to be more muted, or modest. I think 2005 was a good reflection of that.
It's almost like a flat tax. It doesn't matter if you are small company, SOX costs a set amount. That generally means you have to generate a lot more revenue to offset that cost.
If you look at it that way it is quite a big burden, particularly on entrepreneurial companies. In an indirect way what that does is translate into a much higher cost of capital for companies like us.
Even in the current environment, for foreign startups to compete, is very tough. It may be more difficult for us, the [accounting] changes are fundamentally for the worse, but [the infrastructure] is still here, it's established.
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