Oct. 26--A flatbed truck rolls into a Chatsworth recycling yard loaded with 10 tons of cardboard.

East of the San Fernando Valley, burly workers in hard hats erect an $80 million hospital wing with a clang of steel on steel.

For the father-and-son owners of Valley Recycling Center, the sight of cast-off boxes means hope. And for Tower General Contractors of Sun Valley, the ring of construction means a rare business opportunity during the worst economic recession in memory.

"It sounds like victory," said Tower Executive Vice President Alex Guerrero, admiring the 80,000-square-foot emergency department taking shape at Huntington Memorial Hospital in Pasadena. "I love the sound of money in the morning."

A glimmer of gold. A clink of cash. On Thursday, business leaders from across the San Fernando Valley will huddle for a half-day conference on finding the silver lining during the two-year economic slump.

Hosted by the Valley Industry and Commerce Association, the conference will focus on "finding optimism and opportunities in uncertain times."

The Universal City confab will feature more than two dozen panelists discussing issues ranging from recession to government reform. Jane Wurwand, founder of Dermalogica, a $200 million skin-care company, will give the luncheon pep talk.

"Times are tough. And there is a lot going on that people question. The Dow is up to 10,000, yet unemployment is 80 percent higher," said VICA President Stuart Waldman. "(But) there are opportunities."

Economic forecasters, however, disagree over when the economic fog will lift.

For James Paulsen, chief investment strategist for Wells Capital Management, there will be clear skies next year. The massive federal stimulus, company cutbacks and a rise in consumer confidence will be central to driving economic growth, the VICA panelist wrote in a report last month. In addition, growing housing and auto sales, overseas exports and a stall in the rise of mortgage rates and oil prices "should foster a recovery that continues to surpass expectations."

Others predict the business climate in Los Angeles will remain dreary until 2011.

Unemployment in Los Angeles County has reached close to 13 percent. They say this year's holiday sales will remain weak, with no sector performing well next year. With governments deeply in the red, public workers will lose jobs.

"Unfortunately, 2010 may be a tough year," said VICA panelist Bill Watkins, director of the Center for Economic Research and Forecasting at California Lutheran University in Thousand Oaks.