3 investment where we're now returning the cash rather than their being a vehicle for growth. In returning to the growth area, as the five cycles went along, an interest arose in seeing materials and services businesses in this growth category. Makes this a very attractive Company. Vis-a-vis numbers, I have to be careful. (At this point, the matrix was shown and explained.) Previous opinion said all businesses must grow. Strategic planning says all businesses are not created equal. Matrix provided the symbol. It's a multi-factor appraisal system. The planner's job is to inform judgment. Managers use informed-judgment methods. Q. An early warning system built in if the situation proves unattractive? A. Yes. Q. Did strategic planning locate mining? A. Yes and no. Have to be honest to say that Utah is not the result of this specific prescription. But strategic planning had a lot to do with it. In '73, '74 and '75 top management looked at different industries...which ones would succeed in the new environment...consider inflation, international competition, etc. The Utah situation arose and management was informed enough to make this enormous decision. It couldn't have been made otherwise. Had a good fit. It comes back to informing management judgment...not computer models. We have a management with great business experience supported by staff with analytical judgment. Gut decisions give indigestion. Reg is the greatest of all in exemplifying this analytical homework. I said before strategic planning was a great leap forward, but not a new beginning. Q. Exceptions in looking at results? A. Oh, yes. We can't always be right. In service business like GECC, you can get in and get out...you mentioned Credit Card. With large capital expenditures like jet engines and nuclear, once you're in, you're in. Tomography. We were offered a company and turned it down. Now it has pre-empted all the growth in x-rays. Q. Thought strategic planning more quantifying? A. No mathematical formula.