Introduction

As I write this, the world economy is in the midst of a nearly unprecedented slowdown. Some have called it the Great Recession, while others have more boldly deemed it the 21st-Century Depression. Whatever it is called, the devastation of wealth, emotional well-being, and aggregate national output has been startling. Companies once thought to be giants have failed, such as Lehman Brothers, Bear Stearns, Chrysler, and General Motors. Others such as Merrill Lynch and Wachovia Bank have been absorbed by healthier competitors. AIG, once an insurance behemoth with a trillion dollars in assets, is now operating under government conservatorship. Less well-known victims of the devastation that litter the corporate landscape are equally noteworthy: Circuit City, Extended Stay Hotels, Six Flags, and Trump Entertainment Resorts Inc…