In 2005, investors began to pay attention to gradual improvement in the Japanese economy aided by some long overdue government-driven reforms.

Unless the government really accelerates spending, there will be no improvement in the economy. We had hoped that the government could really play a greater role this year.

We continued to see improvement in the overall economy and particularly in the sectors we have been watching and investing in during the last few years. As we look to 2006, we'll be investing in Internet services companies that can build traction in the marketplace using less capital.

Berlusconi is desperate and he's latching on to what he can to deflect attention away from the economy; it's the most prominent chink in the armor. That's why he's jumped on the wiretapping scandals.

We believe that advertising is beneficial to our customers as it raises awareness of product availability and draws attention to money saving opportunities, providing a true win-win situation for dentists and companies serving the dental industry.

The economy could slow down, and there is still uncertainty about interest rates.