June 2020
More from this Issue
-
Need to Move a Mountain? Look to TMA
While much of the world at large has been stilled as a result of the COVID-19 crisis, the restructuring world is moving at warp speed. Our state of preparedness as professionals will now be tested, and we at TMA are at the ready. These past few months have tested so much in so many of […] -
There’s a Reason We’re Overusing Words Like ‘Uncertain’
If there are overused words and phrases for 2020, they are understandably “new normal,” “pivot,” and “uncertain.” If you are looking for alternatives to “uncertain,” I suggest the following substitutes: unsettled, unresolved, unsure, unpredictable, and, my personal favorites, irregular, hairy, and fluctuant. Your next email that replaces “uncertain times” with “in every sense of the […] -
Recovering from COVID-19’s Economic Devastation
COVID-19 seems to know no bounds. It has indiscriminately decimated the world economy and has affected people on every corner of the earth, from prime ministers to paupers. I, too, tested positive while organizing this magazine. Thankfully, it was a mild case. However, the virus’s effect on businesses large and small has been anything but […] -
Guarding Against Insolvency Risk of Critical Vendors in the Supply Chain
Manufacturers may have hundreds or thousands of commercial contracts, each of which might be materially different. Understanding their rights and what they can do to protect themselves if a counterparty stops paying or delivering, or files for bankruptcy or some other form of insolvency proceeding, is a major undertaking. Just thinking about the complexity of […] -
Natural Disasters, Terrorism, Trade Wars, Pandemics—and Yet, Retail Persists
First came subprime mortgages, the ensuing financial crisis, and the Great Recession. Then predictions came of a retail apocalypse caused by the Amazon effect. Despite years of grim headlines predicting the demise of traditional brick-and-mortar stores, retailers have continued to find ways to adapt, evolve, and even thrive. But the shock brought on by the […] -
Surviving the Pandemic: Stress and Distress in the Hospitality Industry
The coronavirus outbreak has impacted the hospitality industry disproportionally more than other industries. For many companies, revenues have fallen off the cliff. Further, the uncertainty and likely overhang of disruption caused by pandemic in the hospitality industry will continue for the foreseeable future. Revised projections show a worsening impact of the coronavirus on the U.S. […] -
Game Planning to Navigate the COVID-19 Crisis
The economic impact of the COVID-19 crisis has placed everyone in uncharted waters. Conversations with senior management have shifted from acquisitions, turnarounds, and hypergrowth scenarios to the consequences of shelter-in-place orders and their impact on businesses. Obviously, the impact varies radically by industry. The experiences of hospitality and travel companies, for example, have been radically […] -
COVID-19 Crisis Adds to Czech Automotive Industry Woes
The COVID-19 pandemic hit the world unexpectedly and caused what is expected to be one of the biggest global economic crises in history. One of the hardest hit branches is the automotive industry, a crucial sector for many national economies, including the Czech Republic, a small country of 10.6 million where more than 1.4 million […] -
Global Pandemic Is Surprise Addition to Restaurant’s Turnaround Menu
By the spring of 2020, Red, the Steakhouse, in Miami Beach was thriving, poised to capitalize on its success and further expand its brand. With a prime location in the city’s fashionable South of Fifth (SoFi) neighborhood, the restaurant boasted a 198-seat main dining room; a 16-person, glass-enclosed VIP room; two additional private dining rooms; […] -
When a Crisis Strikes, a Board Must Be Up to the Job
When a company is in a crisis, it needs to make sure it has a board that can meet the task. Some crises develop over time due to shifting markets, deteriorating profitability, or lack of access to capital. As is happening today, the other form of crisis can be characterized as a “Grey Rhino” event […] -
Eagle-Eyed: John R. Bise
Q: How did you gravitate into turnaround/restructuring work? BISE: Early in my career, I was a commercial banker, and then I worked with a couple of small venture capital funds. In each of those settings, I had occasions to work with distressed firms. At the time I was leaving my last regular job, the fund was […] -
TMA TALKS: International Company Turnaround of the Year Winner Focuses on Improving Profits
Welcome to TMA Talks, a regular series of podcasts. Each segment features prominent TMA members, industry experts, and other special guests. These exchanges, edited transcripts of which are printed in the JCR, offer insights into key markets, forward-thinking economic outlooks, insider thoughts on industry trends, and much more. TMA Talks podcasts are available on the TMA podcast channel. […] -
Newcomers: June 2020
Arizona Mark D. Kennedy Atlanta Jordan A. Davis Leanne Gould, Gould Consulting Services Jeff Miller, Valbridge Property Advisors California – Northern Omar Azabi, University of San Francisco Mauricio Grande Scott Pinkner, Donnelley Financial Solutions (DFIN) William Wright, Shea Labagh Dobberstein California – Southern Ashtynn Baltimore, CR3 Partners Harold Brown Michael D. Diyanni Benjamin Garrick Matt Kavanaugh, […]