3 - Q. Where did you get all your money? Do you borrow it? A. GE has $547 million of shareowner money invested in GECC. The rest is borrowed from the general public...banks, pension funds, unions, insurance companies and others who have large sums of money. (At this point, Mr. Stanger pointed out financial statistics in the GECC annual report.) At the end of the year our ratio of borrowed money to equity capital was 6.6 to 1. Q. The point has been made that a service business returns a much higher profit increase than the corporation as a whole. A. GECC's rate of growth is a good one. The average over the past ten years has been close to 20% increase a year19.3% to be exact. Q. As an affiliate, you're part of GE, but you're also a separate company. How does that work? A. We're separate because of the large amount of external funds used. But we're subject to all of the controls that GE has on all of its operating components. We have a Board of Directors staffed with the most senior men in the Company. Dave Dance is chairman, and by the way, I don't believe he has ever missed a single --------------meeting. Stan Gault and then the functional senior vice president. They're very active, they have staffs. It's a far more efficient Board than the average in American industry. Q. You have a certain amount of autonomy? A. Yes. We're as decentralized as you can get. We're controlled, but flexible. Q. Does a reorganization of the Company affect you? A. We seem to have continued in our present form over the years and are not as affected by reorganizations. Q. You mentioned in your annual report that you have your own constituency. Who are they? A. All the institutions who lend us substantial sums of money. Q. Do you get a certain amount of intelligence and marketing information from the parent company as to where to look for customers? A. Through the directors, yes. We get a certain amount of commercial intelligence, especially in terms of growth industries. But most of our market research is accomplished by GECC personnel. We have our own strategic planning people.