Deloitte Paper Asks CFOs: How Will You Play to Win in the Downturn?

What: "Recession: How Will You Play to Win?"

Who: Sanford Cockrell III, national managing partner, Deloitte's
U.S. CFO Program
Ajit Kambil, global research director, Deloitte's U.S. CFO
Program

When: Available immediately

Where: www.deloitte.com/us/playtowin

Details: The combination of the worldwide credit crunch and a recession
with possible deflation creates a unique and unprecedented set
of circumstances for chief financial officers. They will have
to navigate two distinct challenges. First, they must manage
their short-term credit, cash and performance needs -- despite
receding pricing power. Second, they need to efficiently
position and utilize assets with an eye toward post-recession
growth.

"CFOs will need to successfully develop and execute playbooks
to manage liquidity, navigate the downturn, prepare for
recovery and manage risk," said Cockrell. "'Recession: How
Will You Play to Win?' can show high performing CFOs how to
possibly seize opportunities from the downturn, outdistance
their competitors and grow more quickly in the ensuing
recovery."

Ajit Kambil noted that right now CFOs should track indicators
that provide a trajectory for recovery. "The challenge for
CFOs will be to read the signals and discern the shape and
structure of the recovery. One approach to address this
challenge is to look at recovery models to determine the
markets and segments that will recover first," said Kambil.

The Deloitte paper includes a tax sidebar article, "Tax: Five
Questions to Ask Your Tax Director in 2009." These are
questions CFOs can ask their tax director now at the beginning
of the year to identify opportunities for tax savings and
boost the cash position of a company during a downturn.

"Recession: How Will You Play to Win?" is available as a PDF
download at www.deloitte.com/us/playtowin.

To speak with Cockrell and Kambil about the paper or related
topics, please call John La Place at 212-492-4267 or
jlaplace@deloitte.com, or Rory Mackin at 212-885-0455 or
rory.mackin@hillandknowlton.com.

Deloitte's CFO Program harnesses the breadth of our
capabilities to deliver forward thinking perspectives and fresh
insights to help CFOs in their efforts to manage the
complexities of their role, drive more value in their
organizations, and adapt to the changing strategic shifts in
the market.

About Deloitte
As used in this document, "Deloitte" means Deloitte LLP and
Deloitte Services LP, a separate subsidiary of Deloitte LLP.
Please see www.deloitte.com/us/about for a detailed
description of the legal structure of Deloitte LLP and its
subsidiaries.