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	NOTES FOR HOUSTON SPEECH JANUARY 16, 1985

[Handwritten addition: Rees study — impact on Hou area]

[Handwritten addition: Mining bid as comparison to oil industry]

[Handwritten addition: Restructuring is more than M & As]
[Handwritten addition: —Alex Brown report]
[Handwritten addition: —They think all we do is deals — not so]

[Handwritten addition: New way of looking at industry]
[Handwritten addition: —Paine Webber Analyst]

[Handwritten addition: Response to a problem, not a problem, itself.]

[Handwritten addition: Consolidation]
[Handwritten addition: —Not so, says Kurt Wulff]

[Handwritten addition: Go after Halbouty]