Are PR agencies prepared for a rebound? At the risk of jinxing it, I can report that the latent whisper that business is improving has swelled to full-blown chatter. Not everyone is seeing improvement, of course, and the sustainability of this nascent recovery has yet to be tested.

But if the good news is true, and business does indeed continue to increase, agencies that have been running on fumes for some two years will begin to face other complications besides empty ...