Stay Calm. Don’t Panic.

Now that we have had a couple of days to absorb, analyze, discuss and finally listen to all the “experts" pontificate as to the causes of our recent Wall Street rollercoaster ride, perhaps it’s time to come to our own conclusions as to how it all pertains to our companies and the food industry in general.

As last week came to a close, it was interesting to note that a number of food-industry stock values had weathered the storm very nicely, with most of them still holding on (barely) to the green "up" arrows. MacDonald's, Kraft, Walgreens, Starbucks, and Yum Brands seemed to prove the traditional belief that the food industry is resistant, if not immune, to recessionary forces. The old saw, "No matter what happens, people have to eat," seemed to be in play. This is based on the market truth that money tends to move around in the food industry before heading for the exit.

In tough times, those who traditionally dine at white-tablecloth restaurants will begin frequenting major chain restaurants; chain diners begin eating at fast-food outlets; and we also see more at-home dining, as well as the abandonment of national brands for generic products at the grocery store. If the recession is long enough and/or deep enough, food companies will fall prey to all the forces other segments of the economy have had to deal with previously.

So, the question is: Are we there yet? I suspect we are, but I don't know, and if anyone tells you they do know, don't believe them. And, most importantly, don't make any big decisions based on what we are going through with the yo-yo stock market of today. The fear, panic and irrationality exhibited in response to this week's stock market have created an atmosphere totally incompatible with good business practices.

My advice is stay calm, don't panic and keep your powder dry. We have been through worse times. There are some good opportunities out there, and the challenge we all face is to identify and seize those opportunities when they present themselves.

Again, stay calm, don't panic, keep your powder dry and, when appropriate, pull the trigger!