For every challenge we face - unemployment, poverty, crime, income growth, income inequality, productivity, competitiveness - a great education is a major component of the solution.

We have to reduce the tax burden, whether it's income tax for corporations or private individuals, and we should put a freeze on property taxes.

First quarter combined ratio and net income were very solid and premium growth in new markets has been strong. Last fall we announced plans to enter three additional states in the second quarter of 2006 to further our national expansion strategy. I'm pleased to announce that we will begin operations in Florida, Georgia and Pennsylvania in the second quarter of this year. These three states represent 15% of the total U.S. personal auto premium, bringing the percentage of the U.S. where we actively market to 45%.

There's a really close parallel to France. High unemployment, low family income, inferior education and training, inadequate housing, a great deal of hostility toward the police - we found that the level of hostility in the black sections of these cities was high enough that almost any random spark would set them off.

Productivity was obviously a good number. If it can continue to exist while unemployment remains at historically low levels, that says good things about the economy.

If trickle-down economics worked, we would not have four food banks in Kensington and Chelsea.