31.   A noted industry observer, Kantrowitz maintains a free Web site, sponsored by the National Association of Student Financial Aid Administrators, which advises students about scholarship hunting.

32.   A political crisis is also hurting sales, according to industry observers.

33.   A merger might not generate significant benefits for the companies, some analysts and industry observers said.

34.   A recent run up in online stocks has much to do with the new strategy, according to industry observers.

35.   According to industry observers, the CellPro case is the type of situation that the march-in rights were designed to address.

36.   According to industry observers, the offer is not unusual for the utility industry.

37.   Businesses facing huge premium increases could try to recover those costs by raising prices on everything from restaurant meals to apartment rents, insurance industry observers said.

38.   But breweries can fudge the pull dates by adding a few months, industry observers said.

39.   But analysts and industry observers said the market has, no pun intended, not quite matured yet.

40.   But few industry observers believe the business-to-business hype will last forever.