Todd G. Everts: It absolutely worries me. I can’t see that we’ve hit a bottom. We’re going to have a lot of volatility going forward; a lot of the systemic problems that have been in the market and with the financial companies with the exception of the toxic assets have been out. But we still have earnings issues, we still have manufacturing problems, we still have a tremendous amount of problems in the US that will continue to come to light which will make the markets as they move forward very volatile.

Host: You think equities are still dead? As an esquire, you’ll be a contrarian saying that today, actually.

Todd G. Everts: I just think that the markets are going to continue to have tremendous amounts of volatility. I don’t think we can call this a bottom, I don’t think we can call this a bull market either.

Host: So what is it? Treading water? Knee-jerk reactions that will discover new problems that didn’t come to light in a day or two? Somebody will pull the punchbowl away?

Todd G. Everts: I think we will continue to see earnings disappointment, we will continue to see a retraction in the economy. We still have to take care of this automotive issue. I saw where a Middle-east investor coming into the Daimler Chrysler. That’s a good thing but it doesn’t mean that Americans are going to buy American cars. It doesn’t mean that the labor issues that are perplexing the US manufacturing segment are going to be solved.

Host: Let me ask you a crazy question. Remember when they were debating whether to use the TARP money or part of the rescue plan and give it to Detroit and there was lots of internal strife over that issue. Do you see this public private investment plan maybe being tapped to help out specific industries aside from the banks or is that definitely a no-no? Have we learned that?

Todd G. Everts: I don’t think that will happen what’s unfortunate is there are certain industries that may need help and they’re not getting help because they are not necessarily financial institutions. The point is to get the consumer back spending and the American person confident that they have job safety, they’ll be able to meet their obligations and that they’ll have a rosy future then.

Host: They are spending. You know where they’re spending? They’re all going to Wal-mart.

Todd G. Everts: Benefits us in Asia.

Host: That’s a great thing, though. People aren’t buying stuff at Saks or Bloomingdale’s or Nordstrom, they’re going to Wal-mart and Costco and buying what they really need, not what they really aspire to, that’s a self imposed austerity, that’s not a bad thing, they’re still spending.

Todd G. Everts: Yes, it’s a good thing.

Host: When were you last back in the States?