Question-and-Answer Session
Operator
(Operator instructions). Your first question comes from the line of Steven Fisher with UBS.
Steven Fisher – UBS
Great, good morning. Ray, wondering if you consider the scope bookings in power in Q4 to be a base level going forward. I'm guessing not since you said you are seen continuing weakening. And then I guess what level of bookings does your rightsizing assume?
Ray Milchovich
For power at this point, we have got one project left that we will book over the next 4 to 6 weeks that will impact the EBITDA in 2009. It is the only one that moves a needle in 2009. Now we have got bookings later in the year that are highly impactful on 2010 and beyond, but they really won’t impact the EBITDA performance in 2009. So that one project is the one that we are watching and that will take us either way in 2009, but as I mentioned, that is the only one now. Now, the rightsizing that we reserved for is for what we needed to do given the outlook we had for 2009. However, as we watched market, through the first half of the year, it may be appropriate for us to more get the market space where it is today because the market is just, it is this cold. And we have gone through every opportunity that fits what we do worldwide and frankly we are assuming a very successful hit rate on projects that proceed, but they either will or they won't. And so what we will do is that they proceed and if we are stable at this level then we will go into 2010 restructured as we will be by mid year 2009. If not, then we will take further action to right size the business so that the business operates as efficiently as it can. But the markets are off, without question. This market went cold on us I would say Gary beginning of Q2 of 2008 and it’s stayed that way. Next question?
Operator
Your next question comes from the line of John Rogers with D. A. Davidson.
Scott Lamb
We can't hear the question. Operator?
Operator
Your line is open.
Ray Milchovich
Operator, can you try that again? We cannot hear the question.
Scott Lamb
We cannot hear the question.
Operator
Okay, please hold.
Ray Milchovich
Operator, can we take questions?
Operator
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