These Oldies Are Goodies

Some traditional companies shine

Many investors have been so preoccupied with technology stocks that they've overlooked another place with big investment potential. It's called the Old Economy. Often with little fanfare, formerly stodgy industrial and service businesses are successfully redefining themselves using the tools of the New Economy. Deregulation, for example, is allowing once-sleepy energy and phone companies to enter zippy new markets. The Internet is enabling all sorts of old-line companies to broaden their customer base and purchase supplies more efficiently. Meanwhile, technological innovations are letting lumbering manufacturers become nimble on the factory floor.

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