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businesses start to spend money on capital and equipment and that usually is a precursor for jobs. so i think we're seeing slow but steady improvement now. that's good news. >> that is good. let's talk about california, the goldest state which has been anything but golden these last few years. the unemployment rate has dropped below august 2009. the job rate is down to 11.9%. is this, jim, a good indicator as to how well the rest of the country is doing? >> it's good news because california obviously it's one of our biggest economies. they've lost a lot of businesses to other states. to states like tennessee and here in texas that have lower tax rates. if they're starting to add jobs back that's a good sign for the rest of the economy. the challenge, alex, is that the overall economy is starting to slow down a little bit. we've seen leading economic indicators start to turn back down. we've seen manufacturing start to slow down a little bit.

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