Wednesday, July 27, 2005

How Prosperity Is Reshaping the American Economy

How Prosperity Is Reshaping the American Economy
Confidence is up, jobs are everywhere, and there's a new breed of entrepreneur

Leo Danushevsky arrived in New York City from Ukraine in 1979 with $900 and not much else. He worked as a machinist until 1989, when he borrowed $85,000 to start L.C. Mold Inc., a tool-and-die company in suburban Chicago. Last year, L.C. Mold did $5 million in sales. Danushevsky and his wife own $500,000 in stocks and just moved into a new home on 2 1/2 acres, complete with a spa. What's more, almost all of his 37 employees--most of them fellow immigrants--own their own homes and participate in a profit-sharing plan. ''Everything I read about America turned out to be true,'' marvels Danushevsky. ''If you work hard enough, you can get somewhere.''

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