The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACE LIMITED Common G0070K103 5,257 47,150 SH   SOLE   38,590 0 8,560
AFLAC INC. Common 001055102 5,527 86,344 SH   SOLE   69,298 0 17,046
AIR PRODUCTS & CHEMICALS INC. Common 009158106 3,636 24,035 SH   SOLE   19,175 0 4,860
ANADARKO PETROLEUM CORP Common 032511107 1,505 18,180 SH   SOLE   14,050 0 4,130
APACHE CORP Common 037411100 1,553 25,750 SH   SOLE   19,150 0 6,600
APPLE COMPUTER INC. Common 037833100 3,352 26,940 SH   SOLE   21,075 0 5,865
BANCORPSOUTH INC Common 059692103 255 11,000 SH   SOLE   11,000 0 600
BAXTER INTL INC Common 071813109 4,208 61,428 SH   SOLE   46,780 0 14,648
BED BATH & BEYOND INC. Common 075896100 5,240 68,250 SH   SOLE   53,150 0 15,100
C S X CORPORATION Common 126408103 2,862 86,414 SH   SOLE   64,950 0 21,464
CROWN HOLDINGS INC. Common 228368106 4,096 75,832 SH   SOLE   62,520 0 13,312
DEVON ENERGY CORP Common 25179M103 1,447 24,000 SH   SOLE   18,100 0 5,900
DISCOVER FINANCIAL SVCS Common 254709108 4,358 77,345 SH   SOLE   65,375 0 1,500
DOW CHEMICAL Common 260543103 5,351 111,530 SH   SOLE   85,750 0 25,780
DOW CHEMICAL Common 260543103 72 1,500 SH   OTR   0 0 1,500
EOG RESOURCES INC Common 26875P101 1,425 15,543 SH   SOLE   11,770 0 3,773
EXPEDITORS INTL OF WASHINGTON INC Common 302130109 4,166 86,475 SH   SOLE   69,400 0 17,075
FLUOR CORP Common 343412102 4,149 72,590 SH   SOLE   56,480 0 16,110
FORD MOTOR CO Common 345370860 2,895 179,370 SH   SOLE   145,300 0 34,070
FRANKLIN STREET PPTYS CORP Common 35471R106 135 10,500 SH   SOLE   10,500 0 0
GLAXOSMITHKLINE PLC SP ADR Common 37733W105 4,022 87,146 SH   SOLE   67,200 0 19,946
GOOGLE INC-CL A Common 38259P508 3,263 5,882 SH   SOLE   4,260 0 1,622
HEWLETT-PACKARD CO Common 428236103 4,596 147,495 SH   SOLE   116,650 0 30,845
HONDA MOTOR CO LTD ADR Common 438128308 600 18,300 SH   SOLE   16,100 0 2,200
HONEYWELL INT'L INC. Common 438516106 235 2,250 SH   SOLE   2,050 0 200
INTERNATIONAL PAPER CO. Common 460146103 3,169 57,109 SH   SOLE   46,760 0 10,349
INTL BUSINESS MACHINES Common 459200101 4,793 29,865 SH   SOLE   22,335 0 7,530
INTL BUSINESS MACHINES Common 459200101 64 400 SH   OTR   0 0 400
JACOBS ENGINEERING GRP Common 469814107 4,392 97,260 SH   SOLE   76,500 0 20,760
JACOBS ENGINEERING GRP Common 469814107 50 1,100 SH   OTR   0 0 1,100
JOHNSON CONTROLS INC Common 478366107 5,273 104,534 SH   SOLE   83,900 0 20,634
JOHNSON CONTROLS INC Common 478366107 50 1,000 SH   OTR   0 0 1,000
MACYS INC Common 55616P104 249 3,835 SH   SOLE   2,300 0 1,535
MARSH & MCLENNAN CO INC Common 571748102 2,046 36,472 SH   SOLE   28,200 0 8,272
MCDONALD'S CORP Common 580135101 205 2,105 SH   SOLE   1,200 0 905
MICROSOFT CORP Common 594918104 5,456 134,193 SH   SOLE   104,400 0 29,793
MICROSOFT CORP Common 594918104 61 1,500 SH   OTR   0 0 1,500
NOVARTIS AG-ADR Common 66987V109 3,672 37,240 SH   SOLE   28,570 0 8,670
NOVARTIS AG-ADR Common 66987V109 79 800 SH   OTR   0 0 800
ROCK TENN CO. CL A Common 772739207 218 3,377 SH   SOLE   2,500 0 877
TEREX CORP Common 880779103 2,851 107,230 SH   SOLE   86,335 0 20,895
TOYOTA MOTOR CORP ADR Common 892331307 4,526 32,355 SH   SOLE   27,250 0 5,105
UNITED PARCEL SERVICE-CL B Common 911312106 4,573 47,170 SH   SOLE   35,600 0 11,570
UNITED PARCEL SERVICE-CL B Common 911312106 78 800 SH   OTR   0 0 800
UNITED TECHNOLOGIES CORP Common 913017109 4,417 37,685 SH   SOLE   28,260 0 9,425