You've got a buzz here. You've got a quality of life. This is a nice place to live. People have choices . . . and they're choosing here.

We don't want to make too much of any one month. But last month was flat in terms of total jobs. This month we're down. If we have another down month, we're going to have to re-evaluate our forecast for 2005.

You are like a little rowboat in a big ocean. There are waves from across the Pacific, waves from the east, and they're rocking your boat up and down.

This is building way too much, and it is getting worse.

It's hard to get wage gains when you've got a persistently excess labor supply.

We call it the Big Bullpen group. We play a lot of golf together, and they are all good players.