While much of the business world struggled with cutbacks and layoffs during 2009, many people saw opportunity. Undaunted by the recession, they started their own companies.

Entrepreneurs are by and large an optimistic lot, with faith in their ideas and their ability to execute them. So it’s understandable that they would find reasons why it made sense to start a business in a sickly economy. Among them: It’s easier to rent commercial space at a discount when landlords are hungry for tenants.

Still, many had some scary moments as customers stayed away or money ran low. A look at how four new business owners fared last year . . . read more

The extended American recession, now into its 18th month, will be the longest and deepest of any since the Great Depression. A return to positive (if modest) U.S. economic growth during the July to September quarter is the consensus view of forecasting economists. Modest growth should be followed by more robust performance during 2009’s final quarter and more solid growth throughout 2010.

A return to U.S. economic growth clearly does not suggest that problems with housing, commercial real estate, sick investment portfolios, and wobbly financial markets are behind us.

With consumer spending representing 70% of the U.S. economy, rising confidence levels are important. The Conference Board’s latest monthly measure of consumer confidence rose sharply to 39.2 in April, versus 26.9 in March. The index is based on a representative sample of 5,000 U.S. households.

The latest measure was the second consecutive rise, and was at its highest level since last November. In contrast, the index hit a record low in February near 25.

We still have a long way to go. For the index, 1985 equals 100. The index averaged 57.9 in 2008 and was at 90.6 in December 2007, the month the economy officially entered the recession.

The American economy contracted at a 6.1% real (after inflation) annual rate during 2009’s first quarter, very close to the 6.3% real annual rate of decline during the prior quarter…

…that’s where the similarity ends

While the fourth quarter’s various economic components were almost all scary, the more recent data had numerous elements of optimism as to where we go from here…

…the overall message is that this painful recession has about run its course, with a return to positive (yea!) if modest U.S. economic growth perhaps by late summer, one reason stocks continue to move higher