I call this meeting to order.
There's one little thing before we get started and hear from the witnesses.
It has been suggested that I'm a little slack at timing the questions and the answers, that I let people go a little long. I'm going to tighten that up a little bit, so for the seven-minute questions I'm going to ask you to limit it to seven minutes questions and answers, and then five minutes. We won't cut anybody right off, but we ask your co-operation to keep it a little tighter. I tend to let people go on, on both sides, because if we have a good line of questioning going, we all want to hear the questions and we all want to hear the answers.
Yes, Mr. Davies.