But that estimate is probably too low.
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In remote and rural provinces, licences may be hard to come by, but demand is so low that it is probably not worth setting up shop.
Over time, price-earnings ratios for both properties probably converge in the low teens, but right now Apple is cheaper with much more scale.
Yes, we are in a low inflation period now but that can and probably will change.
Consumer publishing is a low-growth, low-margin business, but Pearson is probably stuck with Penguin Putnam because Bertelsmann, the only likely prospective purchaser, just bought Random House.
My original projection in the spring was that the stock market would experience a significant decline of 15% to 19% in its unfavorable season this year, but probably not a new bear market, but with the low for the year not being in until October.
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That's still low by international standards, but the figure will probably double again in a year's time.
But, in the present case, interest rates have probably been too low for too long.
Yankees-Red Sox may still be called The Rivalry, but with the expectations so low for both teams, we can probably drop the capitalization now.
This seems like a reasonable response, but Dean Ornish, probably the best-known and most passionate advocate of low-fat diets, goes much further in attacking the credibility of the trial.
But given how far he has come, this tough, if low-key, player can probably handle anything.
Mervyn King's remarks that he wants to see RBS's poisonous and low quality assets hived off into a new so-called bad bank matter - but probably not in the way that seems most obvious.
Corporate clients might be harder to come by but would probably be drawn from sectors that deal with material sciences, particularly engineering or metallurgy, where a low-gravity environment would make possible types of research and production that are impossible or prohibitively expensive on Earth.
He also believes bond yields are artificially low, given that the market has probably priced in too much QE for all assets, but especially for bonds.
Yes, the major part of cost cutting is probably behind us, but we can continue to maintain at least modest, certainly high single-digit to maybe low double-digit growth with the current situation that we have with the very marginal economic growth.
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