Given the current yield curve, it's an extremely challenging environment for that segment right now. I would be in favor of them selling it at the right time, but the segment probably doesn't have an optimal valuation right now. |
The reports were an early indication that the pricing outlook may not be as good as one would hope. Last night's results and tonight's will give a sense of what 2006 will look like. |
They had to get bigger or exit the business. They took the right course of action. |