This deal is going to prompt further consolidation. The continuing volatility in petroleum prices makes it imperative for these companies to find ways to reduce costs.

The deal indicates that consolidation in online ads is continuing even among the largest players. It puts increasing pressure on, and marginalizes, anyone who's not at least No. 2 or No. 3 in a category.

Disarmament, with mutual honor and confidence, is a continuing imperative.

We think cellular companies in Brazil will go through consolidation.

I think we're going to see further consolidation in the pharmaceutical industry. I think that's going to continue into 1999.

I don't think the industry has the capacity to expand much beyond the rate at which it's expanding now. When you match a relatively constrained capacity to expand against the increasing growth rate of demand for crude oil, it sets the potential course for oil to ultimately go beyond $50 a barrel.