While this required cuttingexpenses and shutting down less profitable operations, it demonstrated the resiliency of American companies in the face of trouble.
With the company committed to cuttingdown on its Average Unit Cost and marketing, general and administrative expenses, we expect that the EBITDA margin for this division will gradually increase to around 25% by the end of our forecast period.
Cendant (nyse: CD - news - people ) was up 1.5%, after the company set a dividend on it common stock for 2004, and Waste Management (nyse: WMI - news - people ) said it was cutting 880 white collar jobs from its workforce, in a move to scale downexpenses.