One day late in August, Victor J. Riley Jr. was poring over the 1994 profit plan he was preparing to give to his board this fall - and feeling uncharacteristically depressed.

The chairman and chief executive of Keycorp liked what his company was doing this year and even felt "pleased" with the outlook for 1994, "But I was a little bit despondent out there as far as '95," he said in an interview Monday.

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