Some debt load can be beneficial for anti-takeover reasons or flexibility or ability to adjust expenses. The takeover scenario is highly unlikely. We are making record profits and are the industry's dominant player. We are more likely to do (are doing) the taking over.

Who would take over a highly profitable company to disassemble it because the value of its assets is greater than its ability to generate a profit? In this environment our assets are specialized and could only be sold to other players in our market. We are already considered consolidated and the government is not likely to back our competitors becoming larger at our expense.