WOBURN - There is a lot to be discouraged about these days but Executive Director Paul J. Meaney of Woburn Business Association sees the people of Woburn and members of the business community as having the mettle to see it all through.

"We are in a recession," he said in somber tones to another business group, the Woburn Rotary Club, during their noontime luncheon at the Holiday Inn Select.

Still, he feels, the resilience of the people and strength within the businesses can carry people through if they act sensibly "and watch the bottom line."

It's not business as usual, he told a gathering of 40, but the area has been able to adapt in the past.

"Our economy is not doing its best but let us not fear to talk about it," he said in a resolute manner.

Many of the ills, he said, can be traced back to deregulation 10-15 years ago and to an attitude that is not responsible in nature. There is a prevailing mind-set of "I want it and I want it now," he said. "That has to change."

Meaney pointed out that many had been given mortgages when they never should have been given mortgages. But, he pointed out, Woburn as a community has dodged the bullet and is not in with other communities with high rates of default.

As an example, Meaney said he has met with Congressman Edward Markey, D., who pointed out trends in some communities like Revere, where 36% of all housing is in default, and Malden, where 26% of the inventory is in default. "Woburn seems to be holding its own at 10% or less," he said of his research.

How to get back, he added, is another story.

One step, he felt was to get "a new sense of reality." "Life isn't just a bowl of cherries," he cautioned.

He urged more constraint and more responsibility on both people and the business community.

According to the business guru, Woburn has some 3,300 businesses. "This make us unique. Also, there is a strong sense of community: just look at the major success of the Host Lions Halloween Parade that cost some $60,000 and over 600 at the 31st Mayor Senior Appreciation Dinner." The people of Woburn alone, he said, put down $16,000 along the route of march in support of a fine effort. "This make Woburn unique. We have a big heart."

At the top, he said, he felt the mayor and City Council are addressing drops in revenues and are taking a hard look at expenditures. "There's a freeze on everything except public safety," he added. We are in a recession but how far, we don't know."

"But, don't be discouraged," he continued.

As an answer to several questions, he noted the efforts of National Development in the Industri-Plex area in the northeast corner of the city. "There is an overlay district that can work," he felt, noting two firms have already declared intentions to build in the area, namely Bob's Discount Furniture and Pet Smart, a pet boarding provider service.

Also, he said the city and area has only to look to the Raytheon Missile Defense Center in the same general area and its 1,200 employees here and Raytheon's 60,000 world wide. Meaney put Raytheon right up with the best corporations in the world.

"Do not be discouraged and watch that bottom line," Meaney concluded.