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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56850)	12/4/2001 3:40:59 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

12/04 00:01 U.S. Economy: Southeast Businesses Lay Groundwork for Recovery By Will Edwards quote.bloomberg.com High Point, North Carolina, Dec. 4 (Bloomberg) -- The rattle and hum of construction equipment are beginning to harmonize with the chorus of staple guns in High Point, North Carolina, the self- proclaimed ``Furniture Capital of the World.'' Universal Furniture Ltd. and drug discovery company TransTech Pharm Inc. are two businesses in this city of 90,000 that aren't worried that the U.S. recession was made official last week. Their optimism about the economy is reflected in more spending for facilities and additional hiring. There are signs business confidence is starting to pick up again in the U.S. Southeast, the 11-state region that has lost 211,100 manufacturing jobs since October of last year. That's a fifth of the 1.1 million factory jobs shed for the entire U.S. during that same 12-month period. ``The economy is stronger than most people think,'' said Adnan Mjalli, TransTech's chief executive officer. His company, which is searching for cures for such diseases as cancer and diabetes, just added more laboratory space. It expects to double its 60-person staff over the next year and is buying equipment made by Dell Computer Corp. and Fisher Scientific International Inc.