Adding to the quandary in which university presses find themselves while navigating the storms of the digital transition (elevated to a near-perfect storm by the simultaneous recession) is that few of them have pools of available capital to fund required new investments in digital publishing platforms and cyberinfrastructure or to replace falling print revenues even temporarily while awaiting the predicted, but uncertain revenues deriving from sales of digital versions of texts. Faced with the collapse of their traditional business model, the decline of university subventions, and the increasing unwillingness and inability of universities to tolerate press debt, the problem for many university presses is not just how to manage the digital transition, but how to survive it.