As a fresh president-elect prepares to succeed an expiration-dated sitting president, the moment of transition is here.

Barack Obama and George W. Bush conflict in philosophy, policy and personality. One will fear for his legacy, the other for his opening act. They are united in concern about the dire national circumstance.

President-elect Obama surely sees the parallels with Franklin Delano Roosevelt and the economic crisis he faced going into his famous first 100 Days. In that time, Roosevelt laid out the agenda for the New Deal.

In this fast-paced, globalized and financially dangerous world, though, Obama may not have 100 days. Indeed, "First 50" has a certain ring.

And just as FDR had his New Deal and John F. Kennedy had his New Frontier, Obama could use a rallying cry — some slogan to focus the attention of millions of Americans who are ready to pitch in.

There's more to learn from other predecessors, too. Jimmy Carter pushed too broad a legislative agenda too quickly. Bill Clinton dallied in appointing a capable White House staff. Ronald Reagan, with his focused "Reagan Revolution" agenda, had the most successful start since FDR.

"If Obama runs the transition anywhere near as well as he ran the campaign, it will be efficient, quiet and competent," said James Pfiffner, author of a leading book on presidential transitions.

Forget competence. Brilliance is called for as Obama prepares for his administration by addressing the vital issues listed below.

THE FINANCIAL CRISIS

If John McCain's presidential quest had a Waterloo, it was the day he suspended his campaigning and returned to Washington to help fix the gridlocked financial system. Injecting presidential politics hurt the process. Obama benefited by appearing concerned but calm.

A show of concern is not enough anymore. First up: Assure Americans the $700 billion rescue package will be carefully spent, its benefits felt on Main Street, not just Wall Street.

Mortgage workouts and incentives for new lending — think college loans, car loans and small business loans — are places to start. Obama needs to ascertain that bailout funds are not wasted. Insurer American International Group already is running through its federal money.

GLOBAL TRADE

President Bush has called for an economic summit Nov. 15, and Obama should stay out of town.

With Bush a lame duck, world leaders likely won't take serious action at this meeting. Obama would do himself no good by connecting to a failed meeting.

"It's good politics and good policy for Obama to stay aside," said Robert Dallek, a retired Boston College professor who has written extensively on transitions.

With his choice of Treasury and Commerce secretaries, though, Obama can signal his seriousness about addressing the global financial crisis. And he should promptly renew the U.S. commitment to address climate change, trade issues, and the international rule of law alongside major global trading partners.

INDUSTRIAL POLICY

Obama has said the $25 billion bailout of the auto industry will not be enough. What if steelmakers call for help? Or retailers?

To minimize the politics, the next president needs a means test for deciding what industries deserve help. He should take the lesson of the Chrysler bailout and insist on loan guarantees, not outright grants.

Tax credits are another tool. They have bottom-line impact and could steer private sector investment toward socially desirable aims: efficiency measures and greenhouse gas reductions.

ENERGY POLICY

John McCain wanted to build 45 nuclear power plants. Oilman T. Boone Pickens wants massive investment in wind power and natural gas. Obama has called for $150 billion in spending on energy investment, but is vague on the details.

It's time to get specific.

And just as President Kennedy mobilized the country with a concrete objective and set a deadline for the Apollo program, Obama should take similar risks to help mobilize the nation.

And despite his corn-state roots, it's time for Obama to scale back his enthusiasm for ethanol.

TAXES

President Bush's tax cuts will themselves be cut. And tax relief for people with less than $250,000 in income seems fairer than current policy.

But with a $700 billion bailout program, a $1 trillion price tag on the Iraq war so far and an economic slowdown that will erode tax revenues, it's no wonder the federal debt exceeds $10 trillion.

President-elect Obama needs to spell out how he will deliver his tax cuts, manage the budget deficits, and maintain the strength of U.S. government debt, all at the same time.

David Greising is a business columnist for the Chicago Tribune.