Business Services Industry
Bloated Industries Put the Economy in a Bind.
Knight Ridder/Tribune Business News, December, 2002
By William Neikirk, Chicago Tribune Knight Ridder/Tribune Business News
Dec. 15--DURHAM, N.C. -- The world's auto industry can now produce 20 million more cars than consumers can buy.
Will Daland, a 55-year-old computer programmer, worked for some of the world's premier telecommunications companies before that overbuilt industry hit a slump two years ago and he was laid off. Now, Daland says, he may start driving a truck if he can't find a job in his field.
Cisco Systems Inc. built six new buildings to expand its presence at the high-tech Research Triangle Park in North Carolina when the dot-com business was sizzling. All six buildings are empty.
Each of these instances reflects a powerful wave sweeping the economy. In the...
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