Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Kathryn O’Connor - Deutsche Bank.
Kathryn O’Connor - Deutsche Bank
I just wanted to take a look at slide five maybe. I guess, did you guys take up the cost savings that you were expecting from 70 last quarter to 98 this quarter?
Phil Damaska
I would also point out Kathryn, this is Phil by the way, that we’ve identified that there are going to be further restructuring activities as we move through the remainder of 2010, although I will note that they are going to be at a lower level than we experienced in the first quarter. So, the $98 million takes into account, activities already implemented as well as those that we’ve got on the drawing board.
Kathryn O’Connor - Deutsche Bank
So may be taking that from where we were at the end of last quarter, can you just tell us how much more cash that we are going to spend to get that extra $28 million worth of savings then?
Phil Damaska
I don’t think its very good to quantify the incremental impact of future activities, we certainly have a sense of what they are going to be, but since we haven’t dusted them off, and obviously you have to go through a lot of works council discussions, we are not prepared to talk about what that’s going to be.
Gordon Ulsh
But, I think I’d add a little bit more. You saw the amount of money that we spent in the first quarter. I think it’s our general view Kathryn that the rate that we see in the balance of the year will be below that that we saw in the first quarter.
Kathryn O’Connor – Deutsche Bank
Okay. I guess if I take that in the context of the paybacks you guys normally look for, do you think that these incremental savings are going to be sort of in more like a one year payback time period or maybe closer to a two year payback?
Gordon Ulsh
I would say closer to your first number, on average. Knowing that there are differences by country and activity, but I would say closer to your first number again.
Kathryn O’Connor – Deutsche Bank
Okay. Thank you very much for the volume numbers by each of your segments, those are helpful. I was hoping though maybe if you could get a little bit more detail in terms of on the transportation side, is there anyway you could give us the volume breakout, OE versus aftermarket, and then on the industrial side is there any way you can give us the breakout on volume motive versus reserve?
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