Global economic conditions have continued to deteriorate over the last several weeks impacting many of our customers as well as a number of our businesses. In addition, the strengthening of the dollar against other global currencies has created additional headwinds that will negatively impact our financial results.
As bad as that sounds, the change in guidance is far less than what the rest of the market is experiencing. The projections for 2009 earnings at the start of 2008 were way off the mark. I was impressed to see shares of Danaher rally on its lower forecast. The stock is still a very good buy.