Those pockets have one quality in common, execution. When i speak about execution, what i mean is some companies are winning even as others faced with similar circumstances are losing. Sell, sell, sell there are enough winners to keep the balls in the air and the bears at bay. And those winners are triumphing because theyre doing a better job in their daytoday business than the losers. The ceos are better, the companies are better. Hey, its just like sports teams. Some guys make the playoffs, a lot of them dont. The best way to understand this execution issue is by pitting individual companies in the same sector against each other. Last night, we spoke to chuck bunch, hes that terrific ceo of ppg, the old Pittsburgh Plate Glass who happened to come on the same day that dupont reported the benchmark of bad quarters. I mentioned ppgs old monicker because its how bunch figured out that it might be a prescription for failure in a world where commerce is global. And a ton of Companies Overs