The cautious firms primarily remain concerned about the slowing global economy, particularly in the US.  Moreover, these firms believe that the non-residential markets are likely to come under pressure due to the tighter credit/weaker economic activity as the year progresses.  Additionally, the continued weak order patterns in NA amid the lackluster NA auto production, less-than-expected emissions-driven increases in NA heavy truck demand, and the ongoing weakness in residential construction remain the concerns of these cautious firms.  Given the slowdown in the U.S. economy, these firms believe that the Company should expand in the international markets, particularly in emerging markets like China, India, Latin America, and Eastern Europe to reach its long-term sales and profit growth targets.  The firms believe that ETN remains one of the better managed cyclical multi-industrials in the industry.