The stocks were better performers during the Clinton administration than they were during the Bush period. The stocks actually performed well in the second half of the Carter administration. And in the whole second term of Reagan administration they were pretty awful.

Frankly, I would say that the trend of ongoing pressure from Asia isn't a particular surprise. The great percentage of the impact from Asia has probably already been felt in Boeing's stock price, but there will be some residual delay associated with earnings.

There's an order coming from the Chinese and I think more people are realizing that Boeing has done a nice job of managing its business.

We believe there are still more orders to come in 2006 due to continued strength in the market. Notable competitions include Singapore, ANA, British Airways, KLM, Emirates, and Qatar.

I think Boeing has a real advantage the market hasn't fully appreciated which is the diversification initiatives in terms of service and in terms of trying to understand how to better appeal to customers.

The ultimate customer is the flying public, and as long as you have more demand for seats than you do supply of seats, then the production of jetliners is going to go up.

They have the data, the knowledge of the customer and the experience that puts them head and shoulders above anybody else in the field.

This thing is a gem. The quality and the talent of the shipbuilding capabilities there are superior, and General Dynamics knows that. There's something very special there, and General Dynamics is not going to do anything to change that. And, the Navy is never going to let something this good get away.

We believe the shares fail to reflect the company's market position or growth potential. We believe overall margins have the potential to expand by 50 to 100 basis points over the next several years and operating profits can grow at a low double-digit rate. Earnings per share could expand by a low-teens rate over the next several years.