STAY CALM. Most important from the get-go is to stay calm. If you spaz out you’ll most likely end up doing something really stupid that can come around and screw you (yeah..you know where). Almost everyone gets at least one bad review in their careers, so stay calm, and see how to deal.

Sometimes, the best course of action is to take lessons from the review, and not be defensive. While this may seem like you’re letting that bastard win, it might be the smoothest way to get past this shitty time. Even if you want nothing more than to lunge across the table and strangle the last breath from the gremlin, the best thing may be to remain calm and thank him for his criticism. Anne Fisher of CNNMoney.com suggests that you have a professional talk, keep your feelings in check, and try to come out of it with three actionable things you can do. Working With Insight offers up a few scenarios that would lead up to a bad review, and things you can do. However, most important is still to stay calm, and think many many times before anything you do. Be careful, make sure you have evidence to back yourself up, and don’t try to start a fight with the fat bastard.

Help! How do I respond to a bad review? from CNNMoney.com
Dealing with a Bad Employee Performance Appraisal/Review from Working with Insight

Additional resources/articles on how to deal with bad bosses

-I hope this to be the first of many How to Deal postings. Let me know of any other issues you may want to be discussed.