Last Updated Oct 16, 2007 1:35 PM EDT
What next? Recovery. Don't panic. It doesn't take 12 steps. In fact, according to The Wall Street Journal, there are only three steps -- and they're pretty simple to follow.
Step 1: Denial -- Step 2: Acceptance -- Step 3: Recovery
In illustration of the simple process, WSJ analyzes (what it calls) one of the worst business deals of all time -- Boston Scientific's $25 billion purchase of defibrillator maker Guidant in 2006. Massive layoffs are afoot but the company finally seems to be rebounding.