Economic slowdowns are hard and for many this will be the first they have ever experienced and it will be quite a shock. Some one asked me today how my sector (media) was holding up and I (after a brief pause) was able to say 'well my sector has been in an economic slow down for some time now so this whilst hard isn't so terribly hard for us (so far)'.
That's quite a thought really. In many ways it quite reassuring to find many of sectors that were allegedly performing so brilliantly to now find themselves in the doldrums (or worse).
I thought Peter Preston nailed it so brilliantly on his piece in The Observer last Sunday. He basically said that newspapers having been the punch bag for bankers for so long were now more resilient and more profitable than banks........Read Peters piece here in full. Its fun. Click here to read.