This economy is scary. Although it was inevitable and felt imminent for a while, it still is shocking. But yesterday, a proefessor was explaining how the restructuring of a newspaper office may be the answer to keeping the suffering print industry alive. That's when it hit home that although this economy is here now and there seems to be little recourse from it at the moment, it will untimately end and that will happen when some radical changes take place.
So the answer does not lie in returning to old models which got us in this mess in the first place. Restructuring seems to be the answer - the process of making marked changes without changing the essence of the product. That means, reassessing business plans, rethinking the finance market, reorganizing the stock market and real estate sector with the efforts being extended to pertinent areas such as education, infrasturcture and of course, the media.
The right changes could likely help avoid such a catastrophic scenario in the future, making the public sector more insulated to the need to layoff employees by the dozen, snatch away their paychecks and leave them standing cold and wet by the side of the road.
We will ultimately go back to being okay. But it will take time. And things will not be the same when we do. Which is probably a good things. It's better to return to different models which work better than old onee which fail.
There is hope. All is not lost. It's just about making those changes. And as a wise man once said, "Change is good."
