21.   Wegner and chief financial officer James Gray are well aware that they are riding high in a cyclical industry.

22.   Workers in cyclical industries are used to uncertainty when it comes to their jobs.

23.   RAM said the slowdown is likely to affect Malaysian Mosaics, as its activities are mainly in these inherently cyclical industries.

24.   Auto companies, however, tend to keep a net positive cash balance as a buffer against bad times in their highly cyclical industry.

25.   Earnings will be most disappointing in cyclical industries, those that are most sensitive to changes in the economy.

26.   First, the economy has become less dependent on cyclical industries such as manufacturing, construction and mining that typically go through their own up-down cycles.

27.   Packaging industry sources, however, maintain that all is not lost since it is a cyclical industry and highs and lows are routine.

28.   Specific points to be addressed will include asset deflation, currency devaluation, altered regional trade flows, oversupply within the cyclical industries and debt restructuring.