Five years of having equity market growth of 25 percent a year seems to be a thing of the past. The law of long-term averages is reasserting itself.

Five years of having equity market growth of 25 percent a year seems to be a thing of the past, ... The law of long-term averages is reasserting itself.

There is a growing sense that the pattern of strong global growth that we have seen in the past few years is shifting now. The question is whether it will be gradual or abrupt.

I have, in the past, seen settling down as a deterrent to growth. It doesn't have to be, though. It can be the launching of new growth.

Today's announcement puts Polaroid on a more solid footing to enter 1999 poised for profitable growth. During the past 18 months, Polaroid has confronted a series of global economic challenges and has reduced dealer inventories substantially.

During the past few years, earnings have done far better than what economic growth alone would have suggested. Interestingly, we have found that the wider-than-expected profit margin, courtesy of surprisingly benign cost pressures, has helped turn good earnings performance into outstanding earnings performance in recent years.