Imagine yourself in a
classroom at Northwestern University’s Kellogg School of Management in Chicago
getting ready to take a quiz on “Rebuilding Corporate Value in Today’s
Distressed Business World.”
well would you score on these questions?
· How can you predict whether a corporation will find itself in
How have recent bankruptcies been used to renegotiate union
contracts and cut legacy costs relating to pensions and healthcare liabilities?
Has the system been corrupted by the ability of large companies to
“shop around” for a court in which to file for bankruptcy?
What are the proven tools and techniques used to pull companies
such as True Value Hardware Stores out of deep financial difficulties?
Is selling assets when your company is in trouble always a good
Why do banks seem to make their worst loans during boom times,
forgetting the lessons of the last loan “bust” period?
How has the banking
system in Japan affected the chances of a company successfully
After attending the Advanced Education Workshop,
June 12-13, 2003, at Northwestern University’s Arthur Rubloff Building, 375 E.
Chicago Avenue, professionals in the corporate renewal and turnaround management
fields will go to the head of the class. Faculty members from such leading
business schools as New York University’s Stern School of Business, Harvard
Business School, Northwestern University’s Kellogg School of Management, Indiana
University’s Kelley School of Business, University of Chicago’s Graduate School
of Business, Boston College’s Carroll School of Management, and UCLA’s Law
School will present their latest research, along with methods for analyzing and
solving the problems of firms in financial distress. Sponsored by the Turnaround
Management Association (TMA) and Northwestern University’s Kellogg School of
Management, this two-day workshop is designed to demonstrate practical
applications of academic research to the turnaround
addition, two CEOs share behind the scenes looks at their companies:
3:45 on Thursday, June 12, Pamela Forbes Lieberman, president and
CEO of TruServ Corporation, tells what she did to return it to profitability
after joining the company in 2001 and inheriting annual losses of more than $100
million, loan defaults and an SEC investigation.
12 noon, Friday, June 13, Edward M. Liddy, chairman, president and
CEO of The Allstate Corporation tells about lessons he’s learned about corporate
In a special pre-workshop session at 10:30 a.m. on Thursday, June 12, a panel of experts with
divergent roles and opinions square off in a discussion of legacy costs (pensions and
healthcare liabilities) and renegotiated union contracts in bankruptcy cases, such as those in the
airline and steel industries. The panel includes:
Hon. Eugene Wedoff, U.S. Bankruptcy Court, Northern District of
Illinois, currently presiding over the United Airlines bankruptcy case
Laura Rosenberg, Pension Benefit Guaranty Corporation
Joseph E. O’Leary, partner in the Labor, Employment & OSHA
Group, McDermott Will & Emery
Bruce H. Simon, partner, Cohen, Weiss and Simon LLP, general
counsel to unions
To see a full schedule of sessions and presenters, go to
or request a
brochure from Cecilia Green, 312-242-6031 (
contact Green for a press pass or individual
The Turnaround Management
is the only international non-profit association dedicated
to corporate renewal and turnaround management. With headquarters in Chicago,
TMA’s 5,800 members in 31 regional chapters comprise a professional community of
turnaround practitioners, attorneys, accountants, investors, lenders, venture
capitalists, appraisers, liquidators, executive recruiters and consultants.
Members adhere to a Code of Ethics, and the Certified Turnaround Professional
(CTP) program recognizes professional excellence and provides an objective
measure of expertise related to workouts, restructurings and corporate
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For more information, contact: