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Who said that — "Be prepared"? Come to think of it, if my memory serves me right, it's the motto of the Boy Scouts of America. I think that's right. If not, I am sure you will correct me.

Be prepared. Not a bad policy to follow whether you have been a Boy Scout or not. After all, it's always best to have a back-up plan ready to transition you into another plan of attack.

The transition plan we can discuss relative to the rental business would be a plan to move from a full economic upswing to more of a mid-cycle environment. It's no secret that the industry has been doing well the past four or five years. Many of you have experienced double-digit growth and have had the opportunity to upgrade your rental fleets. But as we all know, all good things have to come to an end and this economy is no different.

There might not be much to cry about, however, depending on where you do business and who you do business with. Many markets you serve look to remain strong for the rest of the decade. If, however, you are in the housing sector, getting out your Boy Scout uniform might be in order.

The key to all of this, assuming no major catastrophes, is interest rates and whether manufacturers can keep their inventory levels under control. If rates soften and inventory levels remain reasonable, it's very possible to see single-digit increases for the next few years. In short, this economy has a lot going for it which should carry the industrial and commercial sectors and remain positive even if housing slows to below expectations. And let's not forget about road building, which should also remain strong.