Last spring, Linda Delgadillo, executive director at the Turnaround Management Association announced her intention to retire at the end of this year. We asked Delgadillo to look back at her remarkable 11 years with the association and speculate on the direction it may take in the coming year.
There are numerous times during the course of a restructuring and financing that the situation can turn for the worse. Providing assurances and guidance to all parties involved will assist in a successful outcome even in the worst circumstances. Advising clients, lenders, customers and vendors is equally important in gaining common ground and resolution for a successful restructuring and financing.
Often the first signs of a company’s distress are not seen in the board room, but the warehouse, where too much of the wrong stock builds up to crisis levels. This article describes some of the most persistent myths that muddle the world of inventory, how they damage a business and how a few hard facts can unleash a lot of value.
The environments in which risk analysis takes place can be healthy or unhealthy. The latter is generally the case when corporate culture becomes the controlling factor in all decision making, rejecting objective analysis from outside the bubble and requiring the same questionable risk framework even in the face of new unknown factors. No one wants to make mistakes, but those may well be inevitable unless analysis is undertaken with a healthy respect for the unknown of new markets.
In Part 1 of this two-part article, Ken Naglewski of Seabiscuit Partners rendered a definition of strategy, identified the core elements of the strategic planning process and provided a perspective on strategic planning best practices. In Part 2, Naglewski will provide insights into why strategies fail and will highlight potential strategic planning mishaps CEOs need to recognize and avoid.
Right now many companies worldwide are caught in the vice of accelerating change in the world economic order and perhaps even more rapid changes in how business is being done. While always important, effective strategic planning is a must-do item on the CEO’s “to do” list. In Part I of this two-part article, Ken Naglewski of Seabiscuit Partners, provides a penetrating look at what is strategy and a perspective on best practices.
In this environment of economic uncertainty, a company ignoring phone calls from angry suppliers and stretching trade credit is a tell-tale sign of distress. Although this approach may find temporary relief for management, it only delays the inevitable. Eventually every company in this situation will need to face reality head-on with its key stakeholder: the supplier base.
Experienced lenders know that sooner or later, some portion of their portfolio will become financially distressed. The causes of distress range from the macro: (e.g. increased unemployment, declining demand, etc.) to the micro (e.g. poorly executed growth initiatives, loss of core customers, etc.). Regardless of the cause, when lenders see that they have a troubled company in their portfolio, they often agree that a turnaround advisor is needed. The key question lenders should ask themselves in these situations is: What turnaround advisor is right for the situation at hand?
It’s an all-to-familiar tune these days … a borrower in distress has no access to traditional financing or supplier credit to fulfill a spike in business. Purchase order financing can provide an excellent solution to turn such companies around and back on the road to financial stability.
This year’s TMA Mid-Atlantic Regional Symposium — Creating Stability in a Seesaw Environment — will be held at Atlantic City’s Borgata Hotel June 8-10. To offset the gravity of slated sessions, which range from municipal budget crises to the shift in the lending landscape, the symposium planning committee has selected a political satirist to deliver this year’s keynote speech.