Posted by 2 Old 2 Care on September 10, 2014 at 10:37:02 from (74.142.63.198):
In Reply to: Re: What to do posted by oldtanker on September 10, 2014 at 10:20:37:
I made it through the 80's no worse for the wear. So did my dad. We learned a few lessons then. Not least of which is all the guys who weren't very business savvy were the first to fold their tent and go home. There'll be a few big operators lose their hind ends....There'll be a few that do just fine. Same applies to smaller operators. It's "survival of the fittest".
Cutting cost is critical, but RETURN ON INVESTMENT is just as important. Just because times are tough, you can't just quit spending. It's simply a matter of spending in a way that'll bring dollars back to you at the end of the year.
And the single most important thing (as I see it) that'll get a person through these times has to have already been done....Lower asset to debt ratio when prices were ridiculously HIGH. This is NOT a good time to be carrying a heavy debt load. (Not that there is EVER a GOOD time)
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