KEY POINTS:
How has the credit crunch changed your world?
The main impact has been on the availability of credit, and the fact that you can no longer take that for granted.
I am fortunate to work for an organisation with modest debt levels so the impact on us has been minimal.
How serious is the current downturn in a historical context?
Incredibly serious. People are saying it is as bad as the Great Depression of the 1930s.
It is apparent that none of today's business leaders have experienced anything like this in their careers. I think 2008 was probably the most challenging year for business in a generation.
To think that a business like Lehman Bros which has been around for over a century could simply disappear in a mountain of debt is mind blowing.
Fortunately New Zealand has escaped the worst of the global effects.
What helps you put it in perspective and stay positive?
Fortunately, I work in the food industry and people have to eat. New Zealand is a lucky country with low unemployment and low government debt.
While things will deteriorate in the next 12 months, we are starting from a pretty prosperous position.
* Tony Carter is the Managing Director of Foodstuffs, which includes the Pak 'n Save and New World supermarket brands. Last November, the company purchased Liquorland from DB Breweries. Carter is also a member of the Business Roundtable.
