Situation in 2003

• Trade Agreements Not Favorable to US Manufacturers Are Being Signed

• 2005 Quota Phase Out

• Textile Mill Closings Increasing

• Media Says We Are Dead

• Competition From Overseas Sources Increasing

• Retailers Setting Up Overseas Sourcing

• Profit Margin Shrinking On All Product Lines

• Retailers Decreasing

• Customers Slow to Pay, Net Never Terms

Gloom and Doom

Prevails!!!!!!!

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