Details, Fiction and youtargetr bonuses
And only to refresh us, what type of money ratios do youtarget? What's the benchmark you want to work towards?
We needed to certainly compensate the men and women that did the perform.A number of places that experienced quite challenging functioning natural environment so we needed to dealwith that.
Revenues from our Worldwide things to do also wereadversely impacted because of the demanding world-wide preset income and fairness marketingconditions.
So, we'd expect the revenuelevels to become considerably better, definitely not possibly at 2006 amounts, becausewe would anticipate the preset cash flow organizations being a little bit tougher.
Effectively, I think you can do that. Considering now as I do think, thatwe've been a bit off business conventional Using the way that we've awardedstock payment.
Yeah, it's a good issue. I imagine that items haveactually absent very very well, obviously a really, pretty tough 3rd quarter thatcreated an enormous obstacle towards the franchise.
Properly, I do think you are literally about to see net leverageprobably uptick a bit, but that is largely a combination challenges. So once we lookat our gross leverage, when you examine whole harmony sheet footings, we willprobably be largely unchanged vs . the August quarter.
Hence the stability sheetdemands of that business are prone to diminish a tiny bit inside the near-phrase.Offsetting that is the combine during the liquid products may be up in any givenperiod, irrespective of whether People are organizations or treasuries whatsoever that perhaps both aspart of check here your vendor inventories or hedging your derivatives textbooks.
Correct. Okay. And then can we go back to the, I assume, thefixed profits organization this quarter, just perhaps getting a bit extra coloron how many of the sub segments of set money done. Since if I form ofback out the marks, I have a operate rate of, it's possible like $350 million in fixedincome, which I suppose, if we think, even many of the structured no gains wentthrough there, perhaps even a bit softer than that,.
Exactly what are you stating then, it is a functionality of mix and onbalance sheet and In general measurement too, since arguably your cost-off isjust as large as any person else on a share foundation?
When you go into hard sector environments and theenvironment gets very risky, at times that actually works out, from time to time thatdoesn't, This is often just a troublesome quarter.
Sort of like what number of software organizations give "cost-free" software in which the user provides benefit by utilizing it and presenting by themselves as being a purchaser to 3rd parties.
Thanks, Dennis. Fantastic morning, Everyone, delighted vacations.Welcome to our fourth quarter and full calendar year 2007 results convention phone.In advance of we get started the dialogue of success I would prefer to have a second to remindyou that contained Within this dialogue are ahead-hunting statements. Thesestatements replicate the business's belief at this time and so are subject to pitfalls anduncertainties.
Yeah, there – I've that, Guy, I need to -- in my stackedstuff right here, I must try and see that, but I think that, just from memory,whilst I attempt to locate the proper schedule--to wander you through this. We observed or wecame in to this quarter that has a subprime situation, but I believe was flattish andwe shut the quarter by using a net shorter subprime situation.