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Executives Gearing Up for Possible Worsening of Economic Storm

NEW YORK CITY-Few in business describe today's climate as "recession," nor will most say one is coming, but they do agree times are tough and likely to get worse before they get better.

By Amy Vaughn | Updated on February 11, 2001

NEW YORK CITY-Two top executives here in Manhattan confront the question of a recession in a special interview with GlobeSt.com. There are few in business who will declare current conditions as a recession, nor say what is to come; those interviewed did, though, share insights into their preparations for economic trouble.

Kenneth Levien of Levien and Co. Inc., which operates in real estate project management, says the economy will have “zero impact” on his firm. “My firm, unlike most, has a broad breadth” of clients he says. half of whom are non-profit organizations. “While the recession may begin, it takes a very long time to impact non-profit projects,” he says.

He explains non-profit projects are generally funded with government dollars. The financing for these ventures is appropriated prior to an economic downturn and the they last for several years.

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