 In Los Angeles, I'm Colin Risdell. It is Thursday, today the 27th of June. Good as always to have you along, everybody. Two words as a way to get going today. Administrative state. And now, just for the heck of it, a handful of more words. Securities and Exchange Commission versus Jarkozy. The logjam of pending decisions from the United States Supreme Court broke up a little bit more today, the last couple of days of their term, with of interest to us in particular, a ruling.