Category: 2010

O’Neal Steel… A Matter of Teamwork

When putting together and closing any asset-based lending deal, the ingredients that are needed include patience, communication, and capital, but most importantly for both the lender and the borrower, it requires teamwork. And it was a great amount of teamwork that led to the closing of a $350 million ABL for O’Neal Steel, led by U.S. Bank Asset Based Finance. We caught up with U.S. Bank’s Sam Philbrick and O’Neal Steel’s Michael Rowland to get the details of the deal.

Understanding Bank Workouts — More Than Just a Loan

Loan economics are just one of many factors influencing the workout banker’s decisions in the complex arena known as commercial bank workouts. Workout bankers in many commercial banks manage risk, not just loans. Kristina Anderson continues her discussion on de-mystifying the workout banker’s motivations.

Restaurant Market Split Into Haves & Have-Nots – Capital, Deals Abundant for Healthy Businesses: How to be One of Them & Escape the Death Spiral

The old saws, “A down economy makes fools of us all,” and “Restaurants are first and last out of a recession,” might be appropriate, but if you own a large food and beverage business — either intentionally or accidentally — you don’t have to play the victim. But what you first have to do is figure out whether you are a have or have-not and make sure you come out alive.

Saving the Brand: How Retailers Can Avoid Liquidation

The next few months may be challenging ones for American retailers. The Consumer Confidence Index, measured by the Conference Board, plummeted for the third time in four months in September, dropping to 48.5 — the lowest rate since February 2010. The uncertain economy does not bode well for the upcoming 12 months either. BDO Capital Advisors’ Jeffrey Manning and Cooley LLP’s Jay Indyke team up to offer some steps retailers can take to avoid liquidation.

Distressed Debt & the Chief Restructuring Officer Understanding the Philosophy, Psychology and Politics

In Part I of this two-part article, Ken Naglewski of Seabiscuit Partners, opined that a chief restructuring officer (CRO) needs to be at least equally adept at behavioral psychology as she or he is in restructuring and turnaround strategies and tactics and be politically astute. In Part II, the author examines further the difficulties encountered in restructuring situations caused by the realities of organizational dynamics and human behavior, and provides some tactics that have proven successful in distressed situations.