While Heartland Mill has felt the effects of
the national economic downturn in recent years, the company has used downtime to replace equipment and increase its efficiency.
«We face a significant challenge for next year, as Federal stimulus dollars run dry and the city still suffers from the impacts of
the national economic downturn,» Bloomberg said in a statement announcing the plan.
Both organizations were also wounded by
the national economic downturn that reduced Fordham's endowment — and those of many others — by more than one - third.