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2010 ANNUAL REPORT ON FORM 10KTo our Shareholders, Customers, Partners and Employees: 2010 was a year of extremes. The 2009 recession ended abruptly and the result of our aggressive strategy to buy
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A recession is a significant decline in economic activity across the economy that lasts longer than a few months. It is often identified by a decrease in GDP, income, employment, manufacturing, and retail sales.
Typically, businesses and organizations experiencing financial difficulties or significant declines in revenue may be required to file for recession or seek financial assistance from government programs.
To fill out a recession-related application, individuals or businesses should provide accurate financial statements, details of income loss, expenditures, and any relevant economic indicators reflecting their situation.
The purpose of addressing recession during bad times is to assess economic health, implement measures to stabilize the economy, provide aid to those affected, and strategize for recovery.
Information reported typically includes financial statements, reasons for economic decline, previous financial data, and evidence of income loss or market changes.
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