What do you do when when you have to design a website....and work in a TERRIBLE logo into the design.

I have tons of design ideas...but I can't figure out how to integrate this crappy logo into them.

Here's the monster:



That one doesn't even have the transparency right...oh well.

You get the basic idea. It will normally be on a white background.

What do you guys do when you are forced to take a badly layed out logo and integrate into a good design....with good results..

Thanks in advance,
Clif