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“In previous economic declines, the industry has been more inclined to play defense by retrenching and freezing where possible. But our industry has changed profoundly and become extremely competitive. As a result, owners simply cannot afford to wait out a sputtering economy. Our goal with this report was to provoke examination, thought and planning. Certainly no one solution is suitable for all, but by being proactive now, owners and their management teams can not only ensure preparedness for when the recovery comes but also bring their business to the next level,” said Report Co-Author and Senior Economist Joseph V. Vincenzino.
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