Question-and-Answer Session
Operator
(Operator Instructions). And our first question comes from the line of Timna Tanners with UBS. Please proceed.
Timna Tanners - UBS
Was wondering if you could please give us some more color on what you are seeing state wise with regard to the state budgets, and specifically the outlook that you might be seeing a little further out for those states. I guess California, Florida, and Texas mostly.
Don James
I think the news is very good in both California and Texas at the state level, both have initiated large infrastructure programs, state funded infrastructure programs. Illinois certainly is doing the same thing, in all cases I think they are being financed in part at least by bond issues, but those have been underway. Florida has the governor, Florida has talked about from time-to-time, state level infrastructure programs in Florida as an employment boost for the construction industry, that is not yet turned into a formal program, but we are encouraged I think by what's happening in several key states. Overall of course state tax revenues are weak, there is no question about that.
However, many of our key states, seen to be very focused on providing additional incremental funding for public infrastructure projects including highways, as it remains to shore up their local economies and build something that’s going to be add to economic efficiency for the long-term.
Timna Tanners - UBS
Okay. Great. Either you give a fourth quarter guidance or just a little more quantifiable I mean I get the sense of what you are saying in terms of price, but I kind of miss the volume side. Also on 2010 I know you have talked about that in the past, do you have any more detail on the outlook that you can provide?
Don James
For the fourth quarter the combination of the fact that it is the fourth quarter that we don’t have a viable expansion of the multi-year federal highway bill, that the stimulus spending is [spoty] and in our state is behind the rest of the country for the reason that I tried to outline, trying to quantify the fourth quarter volume is re-concluded the range that we would have to give you to be comfortable with it would be virtually meaningless, and we decided that you guys could estimate that as well as we could.
So you know that’s the reason you don’t have an explicit fourth quarter volume guidance it all depends on weather and whether the stimulus projects go begin to move in '09 or carry over to '10, and obviously there is no bright use on non-res construction. Residential construction we see improving in 2010, whether there is any improvement in the fourth quarter is speculation at this point.
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