Philip E. Nelson

It is now officially correct to admit that the economy is in a recession. Not that this recognition makes any difference—we have all felt the impact, even more so since September 11. The impact on IFT is no different.

Fortunately, IFT had developed economic policies over the years that put aside monies for a “rainy day.” This means that IFT is still economically sound. However, we are faced with declining revenues that require us to take significant actions to avoid deficit spending and dipping f…

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