Quotes from the Manufacturing Summit

NEW YORK (Reuters) - Manufacturing and transportation executives met at Reuters' U.S. headquarters on Wednesday to talk about trends in their products and industries.

The following are selected quotes from the Reuters Manufacturing and Transportation Summit in New York.

DAVID FARR, CEO, EMERSON ELECTRIC CO. (EMR.N: Quote, Profile, Research, Stock Buzz)

"I'll roll over in the middle of the night, saying, 'Damn, I hope nothing exploded in Iran,'" he said of political turmoil in the world that could jolt the global economy.

"The economy clearly is slowing down."

"The analysts have moved ahead of us, because we've beaten them quite a few times, and so they now think I'm being too conservative. If everything executes right, yeah, they're probably right, but there are also things that could go wrong."

"I think they're going to find a path that's reasonable for all parties," said Farr of talks that bankrupt autoparts maker Delphi Corp. (DPHIQ.PK: Quote, Profile, Research, Stock Buzz) is holding with its unionized workers to cut costs. He is on the Delphi board.

JOHN RICE, VICE CHAIRMAN AND INDUSTRIAL UNIT CEO, GENERAL

ELECTRIC CO. (GE.N: Quote, Profile, Research, Stock Buzz)

"There will be some more modest (price) decline for the balance of the year" for plastics.

"The consumer appliance business is strong, demand for appliances is strong. We don't expect that to slow up this year. It's stronger than we thought it would be. An element of this is being fueled by consumer demand, not just in the U.S. As the Chinese become more wealthy, they want nicer things."

"(India has) a major effort to try to figure out how to get power to people who don't have it," Rice said. "They have hundreds of millions of people in India who don't have access to power."

STEVE LORANGER, CEO, ITT INDUSTRIES INC. (ITT.N: Quote, Profile, Research, Stock Buzz)

"We're always concerned about rising energy costs and the effect on the economy."

"Without a doubt, the rapid emergence of the middle class in areas like China is going to be driving infrastructure projects .... Keep in mind that something like 60 of the top 100 cities in China don't currently have wastewater treatment."

DINESH PALIWAL, PRESIDENT OF GLOBAL MARKETS AND NORTH  Continued...