It is hard to see anything meaningful emerging. The talks weren't a step forward or backwards. The administration overestimated their power and logic and underestimated the problems and they are panicking.

[The Bush administration has had difficulty mustering support for the India deal.] The U.S. gave everything India wanted and got little in return, ... They framed the deal as necessary to cement a strategic partnership with India, and then this partner turns around and sides with Iran. That's not very strategic.

The strategic challenge the Bush administration faced was to convince the rest of the world that Iran is more dangerous than the United States.

a major step backwards.

The acquisition of Jungle Labs represents another meaningful step forward in our strategy of becoming a larger and more important supplier of specialty pet products. Jungle Labs has a strong track record of innovative product development and marketing in water and fish care and its line of products in this high growth, high margin niche complements our existing Tetra, Marineland, ASI and Perfecto aquatics product mix nicely. This acquisition will be a positive addition to Spectrum Brands' leading market share position in the global aquatics marketplace.

I think we just need to take a step backwards and wait a while on this proposal.