The document discusses the current economic downturn and challenges facing businesses. It notes issues like the mortgage meltdown, rising gas and food prices, declining housing values, increasing unemployment and credit drying up. It recommends businesses prepare for a difficult period by increasing revenue, reducing expenses through pay cuts, hiring freezes and benefit reductions, cancelling bonuses, tightening budgets, and delaying capital spending to focus on performance and growing capital to survive the downturn over the next 12-24 months.