31.   Until recently, the airline industry induced vertigo as few other cyclical businesses could.

32.   When the semiconductor industry, a cyclical business, entered the inevitable downturn, National fared worse than most companies.

33.   With GM shedding some of its glamorous, less cyclical businesses, its stock is genuinely becoming more of a play on the auto business.

34.   But the pressure will be on when times turn tough in what has always been a highly cyclical business.

35.   Chemicals are a cyclical business because they supply industries like autos and construction that also rise and fall with the economy, he said.

36.   Analysts say the move by Shell and Exxon could put pressure on other leading makers of lubricant additives looking for higher profits from cyclical chemical businesses.

37.   The company wants to insulate itself from cyclical businesses such as natural gas, a highly regulated industry.