As a Trane employee I am fearful for my job but as a stockholder I have to be bullish on IR. Their cost-cutting has been so extreme that I can't imagine their financials not being positive in the short term at least. Long term when (if) the markets pick up we might suffer due to letting too many people go, but for now I have to believe it's a positive. There have been many rounds of layoffs, there's a salary freeze, people are being demoted, they are training every employee on how to improve cash flow, our budgets have been stripped down to the bone, etc. I'm just stressing that management is actually being aggressive with their cost cutting and not merely doing window dressing.