Industry & Services >> Analyst Interviews >> December 1, 2008

OUTLOOK FOR INDUSTRIAL MANUFACTURING – JAMES C. LUCAS – JANNEY MONTGOMERY SCOTT LLC

James C. Lucas, Managing Director, Industrials, at Janney Montgomery Scott LLC, joined the firm in March 1998. Before that, he spent two years at NatWest Securities. From 1993 to 1996, Mr. Lucas was a Special Situations Analyst at Raymond James & Associates, Inc., where he followed a multitude of industries, including business services, electronics, infrastructure, manufacturing, outsourcing and real estate. His research approach focuses on visiting facilities and developing a better understanding of companies, with an emphasis on process improvement. Mr. Lucas received a B.S. in accounting and an MBA from Tampa College. In addition, he has completed the executive orientation of the Danaher Business System and participated in kaizen events including one conducted by Shingijutsu Global Consulting. Mr. Lucas also attended the management symposium at Six Sigma Qualtec. Profile
TWST: How have the industrial companies in your coverage done from a business

perspective so far this year?

Mr. Lucas: This year, things had been going very well, but all of that changed

at