The Journal of Corporate Renewal
June 2001
The Technology Meltdown: Maximizing Opportunities for Recovery
In this month’s issue of The Journal of Corporate Renewal we examine a business sector overflowing with turnaround opportunities. There is no better example of a market requiring the talents and tools of TMA members than the Internet and its troubled businesses. Even as dot-com mania begins to subside, the aftershocks remain substantial and failures are still numerous. Also numerous are the challenges for the survivors.
Prospective Buyers Approach Dot-com Deals with Caution
The dot-com phenomenon is streaking back toward Earth in a fiery display even more spectacular than its meteoric rise just a couple of years ago. In the rush to capitalize on readily available venture capital and the promise of huge payoffs through initial public offerings, thousands upon thousands of companies were created in just a few short years. Some recognized the Internet’s potential as perhaps the most pervasive and flexible media to come along so far and developed truly unique business models, created innovative new tools or simply muscled their way to powerful first-mover advantage in their respective markets. But for every company with a product people will actually pay for and a truly promising revenue model, thousands were just along for the ride.
Fixing Internet and Software Companies
With the downturn we are experiencing in dot-com and Internet-related businesses, turnaround managers are facing the many new challenges that accompany this relatively new industry. Turning around software companies, specifically companies that make software for the Internet, can be a daunting task.
The Drivers of High Tech Sales
Many high tech firms—software, hardware and Internet—make a consistent pattern of mistakes that reduce their ability to grow and increase their need for funding and management consulting. The recent NASDAQ meltdown is challenging the abilities of technically oriented management teams and forcing them to step away from their business models. It is key for turnaround managers and consultants to educate management teams about their choices in this tenuous industry.
Delaware: Bankruptcy Goes Back to the District Court
For the past four years the district judges for the District of Delaware (Robinson, Farnan, McElvie and Sleet) have shared with Bankruptcy Judges Walsh and Walrath the administration of all bankruptcy cases filed in the District of Delaware.
The Dot-com Debacle: A Mid-year Update
What a difference a year makes in a bubble economy. From 1995 to 1999, the number of millionaires in the U.S. increased from 4.1 million to nearly 7.1 million thanks to stock options and the dizzying rise of the stock market.[1] With the transformation of dot-coms to "dot-bombs" and the NASDAQ debacle, nearly 800,000 families left the ranks of millionaires in the last 12 months
Why I Became a CTP: The Benefits of Earning the Certified Turnaround Professional Designation
There is no question that in today’s market turnaround managers must be on the cutting edge to thrive in the corporate renewal industry. In years past, when the economy has taken a downturn many individuals have flooded the industry claiming to be turnaround professionals. However, turning around distressed or under-performing companies requires a unique set of skills that are not often taught in traditional business and management programs.
TMA Boosts International Expansion Efforts
The Journal of Corporate Renewal and TMA International Committee are pleased to kick off "International Update," a new monthly column that will highlight International Committee activities, TMA chapter formation efforts outside of the U.S., international events of interest and opportunities for member participation and networking.