Thank you very much to our witnesses, our panellists. Thank you very much for taking time out of your busy day to be with us this afternoon.
Hopefully all of you have been watching the first session. If you have, you know how things work around here. I'll just very quickly go over some of the procedures.
We're going to ask all of our organizations and speakers to limit their comments to five minutes or less. After your opening statements, we will go into a round of questions and answers with all of our committee members. It's been our experience that even if you don't get through all of your opening statements in the five minutes allotted to you, most of the information that we are able to gather comes out through the question-and-answer period. If I have to cut you off, I'll do so respectfully and gently, if I can, but don't worry, because I know that all of the points you wish to make will come out during the questions and answers.
With that brief introduction, we'll get going.
Mr. Nixon, we have you up first on our list. You have five minutes, sir. The floor is yours.