Treacherous Territory Part 1

I guess this question is very cliche-ed, but still needs to be asked before I try to write anything more: What does one do at a time (of economic crisis) like this?

The speed at which things have started to go wrong in the world has left my stomach in my mouth. And it does not taste good. Just over 3 months ago, I was riding on a high; having just taken over as CEO of Trammochem -- youngest Divisional Head in the company as well as the only non-white person to head a Division. Having worked here close to half my life, I thought I knew pretty much everything that happens here. I found out that I did not, but eventually that did not matter so much, since I am willing to learn and absorb. Visions of growth and ideas of taking the company to a new level fill my head.

It all seems to be going fine, until the economic crisis really hits. I am guilty of not realizing the import of a company like Lehman Bros go under. The meltdown begins. Naturally my personal portfolio is being hit really badly, but since I have consistently made the decision to increase equity in our house, we are not going to be wiped out by the market. I have also invested very little into the markets in 2008 and as long as I can hold my job, things should be fine.

But what about the workplace and the decision to hire people & open a new office in Singapore? Is this the right time to increase costs? The amount of business available in the world is declining and some of our competitors will go out of business. It is a crisis, the flip side of which is an opportunity for strong companies. How can I take advantage of this? What kind of message do I send out to the troops? How do we rescue and hold on to the money already made this year?

Such thoughts bother me. I sleep fitfully.