I think we are particularly fortunate in the panelists who have assembled for this discussion. And I want to introduce each of them in a moment. Let me first just take a brief bit of time to describe for you what we hope to do today, which is to focus on what we think, within the general scope of merger standards, is the most important issue that we are facing at this time.

We think the key issue is the new legislation that has been proposed in Congress, which is aimed squarely at putting a limit on the size of corporations through limitations on their ability to enter into mergers. The principal focus is conglomerate mergers. And without stating the case for the pro and the con view on the legislation, let me just say that it appears to present for our country a very substantial question of policy.