Take some time and read John L. Herman, Jr. on the new "3 Rs." A sample of his thoughts:
Look at an intersection. Three restaurants and a gas station. Three office buildings and a bank. Three hotels and a shopping mall. In the next two years demand will correct the excess supply. But, which two will survive and which one will disappear. It won’t be based on who is the best, or who is the most popular. It will be the business that restructures costs, stops wasting valuable cash on marketing, and doesn’t produce at continued losses that may stay alive. While the business owner that keeps giving away product, borrows more to stay afloat, or thinks that tomorrow we will go back to the pace of yesterday…will disappear.
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