Question-and-Answer Session
Thank you, Mr. Brown. The question and answer session will be conducted electronically. [Operator Instructions]. And we will take our first question fromKeith Walsh at Citi.
Keith Walsh - Citigroup
Good morning everybody.
J. Hyatt Brown - Chairman and Chief Executive Officer
Hey Keith.
Keith Walsh - Citigroup
How are you?
J. Hyatt Brown - Chairman and Chief Executive Officer
Good.
Keith Walsh - Citigroup
First question for Jim. You made some commentary on deals, and I just... basically, are the deals in '06 and '07 not meeting your return on capital hurdles? And then also, have you changed the structure of these deals, maybe more earnouts involved in them? And then just a side follow up on that, any outlook on the NYAG amendment [ph] that's going to allow the global brokers to accept contingents for three years. Is that going to change the competitive dynamic in the market? And then I have a follow up for Hyatt. Thanks.
Jim Henderson - Vice Chairman and Chief Operating Officer
Okay, well several ones here. Back to... the deals are meeting our expectations. There is... we acquire deals with a ban of price amend to a max. And today, I think they're probably falling more in the lower half of that band, and they were probably maybe prior to the rate market change 2006-07 and this year. I was addressing the fact that we were able to go back in and get an offer on the tables... on the table on the purchase of multiple, we are back into to 6, 6.5 range. And probably last year, or year before, those deals would not go with that rate.
So the fact that if you acquire a business and there may be let's say, 90%, 95% of revenue based there, so we are just being cautious to make sure that we... if that happens, we have an avenue there not to harm our... the performance of that deal.
Now with respect to, I think your question dealing with the contingents. There is hearings going on in New York state on this subject. We're monitoring those. I guess really nothing out at this point. It seems to shaping up as a matter of disclosure, which we are there. We have been compliant with that. We had enquiry going back in last several years and feel that everything we've seen with respect to those hearings thus far, we do not see of an impact upon Brown & Brown.
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