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Binding ActionScript variable to Label control

<?xml version="1.0" encoding="utf-8"?> <mx:Application xmlns:mx="http://www.adobe.com/2006/mxml">   <mx:Script>            [Bindable]       private var me:String="Rich Tretola";       </mx:Script>   <mx:Panel title="Simple Binding"  width="500" height="90" layout="horizontal">           <mx:Label text="{me}"/>   </mx:Panel> </mx:Application>