Operating expenses for GDS, excluding agency commissions, decreased by $(72) million, or (11)%, compared to 2008 primarily as a result of the realization of cost savings and synergies.

如果扣除支付给旅行社的佣金，GDS的运营成本下降了7200万美元，同比下降了11%。

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Rowe Price, points out, there do seem to be real synergies within the operating units.

ECONOMIST: Honeywell and AlliedSignal

Core operating profit, which reflected a jump in top-line revenue and volume synergies from the bottler acquisitions, was 74 cents per share.

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