Review of key investing sectors for week of May 26, 2009

1. Investor’s Health Weekly For May 26, 2009
• Dividend Diagnosis
• Sector Examinations
• Recent Vital Signs
• Critical Events

2. Feature: Dividend Cuts And Eliminations
• Dividend changes in Q4 2008
– General Electric
– Dow Chemical
– J.P. Morgan Chase
– International Paper

3. Dividends: Tankers
General Maritime
•$2.00 per share annual dividend target
• Management intends “visible and
consistent” income stream
Frontline
• Reduced quarterly dividend from $.50
to $.25 in Q4 2008
• EPS Q4 08 $.66 vs $2.70

4. Dividends: Dry Bulk
Dryships
•Jan. 2009 suspended dividend after 14
consecutive quarterly payments
•EPS Q1 09 ($.93) vs $4.58
Eagle Bulk
• Q4 2008 suspended dividend
•EPS Q1 09 $.37 vs $.31

5. Dividends: Container
Alexander Baldwin
• $.315 per share dividend in Q1 09
• 106 years of consecutive dividends
Seaspan
• Q1 09 reduced quarterly dividend to
$.10 from $.475
• EPS Q1 09 $.25 vs $.30

6. Dividends: Intermodal
Pacer
• Q1 2009 suspended dividend
•EPS Q1 09 ($5.11) vs $.39
Union Pacific
• $.27 quarterly dividend
•110 consecutive years of payment
•EPS Q1 09 $.72 vs $.85

7. Sector Focus: Pharmaceuticals (IHE)
Top Holdings
Johnson/Johnson 8.3%
Pfizer 7.0%
Merck 5.8%
Ap 30 3 Mo. 6 Mo. 1 Yr.
IHE -5.2% -2.6% -15.1%
S&P 6.4% -8.5% -35.2%
500

8. Sector Focus: Pharmaceuticals: The Quigley Corp
• Negative earnings
•Declining revenues
•Facilities consolidation
• Dissident shareholder
takeover attempt
• Accusations of falsification
and distortion

9. Sector Focus: Aerospace And Defense (ITA)
Top Holdings
United Tech 9.5%
Boeing 7.9%
Lockheed 7.8%
Ap 30 3 Mo. 6 Mo. 1 Yr.
ITA -1.4% -9.1% -37.3%
S&P 6.4% -8.5% -35.2%
500

10. Sector Focus: Aerospace And Defense: Boeing
• Three models seat up to 330
• 20% more fuel efficient
• 20% fewer emissions
• 10% better seat mile cost
• 30% savings in maintenance cost

11. Sector Focus: Aerospace And Defense: Lockheed
HULC
Human Universal Load Carrier
• Battery powered titanium legs
• Advanced onboard microcomputer
• Allows for deep squats, upper body
lifting with minor exertion

12. U.S. Highlights
• Home construction may be
finding a bottom
• Multi-family sector drops
46%
• Single-family rises 2.8%

13. U.S. Highlights: Home Builders
• Q1 09 Net Loss ($.55) vs ($.61)
• Revenues $409 million, down 51%
• Q1 09 Net Loss ($.75) vs. ($3.47)
• Revenues $307 million, down 61%
• Q2 09 Net Loss ($.34) vs. ($4.14)
• Revenues $775 million, down 51%

14. U.S. Highlights
• GDP falls 6.1% in Q1 2009
• Most severe two quarters of
contraction since 1958
• Consumer spending grew
2.2%
• Real disposable income rose
6.2%

15. U.S. Highlights
• Durable goods fell; first time
since 2001
•Non-durable goods fell 4.6%
• Retail trade; first decline
since 1991
• Finance and insurance fell
3%; first decline since 1992
• Health care up 4.6%

16. Coming This Week
• U.S. jobless claims
• U.S. consumer confidence
• Bank of Japan minutes
• Eurozone CPI and consumer spending

17. Thank you for your participation