yardeni, would you like to make opening remarks? >> good morning, supervisors. i will keep my remarks very brief. i think this committee has received several informational presentations. i will focus today on the revisions to the draft development agreement that was submitted to the clerk on friday. supervisors csupervisors cohen:k that members from the public restraint supervisor mar: conversationsmar thank you. please continue. >> i'm going to highlight key sections where there are red lined changes. the red lined documents are also available with the clerk's office. i will move through the sections. i do want to note that there were some organizational and technical cleanups' made to the dinedocument. there's no substance to the change, other than adding clarity to the documents. beginning with section 3.5.3 of the development agreement -- excuse me. 3.5.3 of the development agreement. we have clarified the ccnr's to provide permanent maintenance of all sidewalks, parks, basically most common areas open to the public. this amendment was to explain how those g

economist ed yardeni also points to the recent increase in weekly jobless claims and weakness in the auto sector because of parts shortages in japan. >> the auto industry actually saw a very sharp drop in production in april and, as a result of that, they're not hiring and they're holding back 'til they can get the parts. so, i think, when you add it all up, we're probably looking at a soft patch lasting through the end of the summer. >> reporter: and, don't forget those higher prices at the pump. some say they've upset our financial state of mind. >> we all drive down the road and we see that price all the time, and so it gives an immediate sense of how things are doing and how were doing. and, at $4 a gallon, a lot of people are hurting and they cut back. >> reporter: other experts are more optimistic about the economy right now. they point to the stock market's resiliency and strong corporate profits. even with significant headwinds, expectations for second quarter profits continue to improve. at the beginning of the year, analysts predicted a 10.6% gain in s&p 500 earnings in q2,