Checking Under the HoodTerra is officially past the point of being a little too comfortable with all of this.
There's been many times where I've seen my own boss enter a panic state. Sadly this seems to happen quite too often. Usually the best way to deal with that is to not panic yourself, and sometimes a simple 'Yes, sir/mam!' is all your boss wants to hear at that point.
Shame that bosses will think that the panic state is a sign of showing initiative.