March 2020
More from this Issue
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Volunteers Keep TMA Operating at Peak Performance
TMA is a machine in motion. It lives to be exercised. Its momentum keeps it strong. And it is fueled by a volunteer network, which through our committees keeps TMA at the peak performance that make us the defining organization in the corporate restructuring and renewal space. In our year of being #bettertogether and #opportunity2impact, […] -
Toward a More Forward-Facing Global Organization
As TMA Global president last year, one of my primary goals was to lead TMA to a place where it would be more forward-facing. To that end we set out to raise the profile of the organization both in North America and internationally. Now, as TMA Global chair, I have established the goal of highlighting […] -
Heading ‘Back to the Future’
We decided to do a “Back to the Future” edition of the JCR this month with articles on good old manufacturing, distribution, and retail that I think you will find interesting. Let me give you a sneak preview. We lead off with Tom Pabst and Beth Lennon of HYPERAMS (appraisers and liquidators), who write about […] -
Is the Distribution Sector Prepared for Digital Disruption?
The story has been told over and over regarding the negative impact of e-commerce on brick-and-mortar retail and continuing declines in that sector, so much so that the term “retail apocalypse” has lost some of its cataclysmic meaning and significance. Still, upward of 6,000 retail stores were shuttered in 2018, and more than 9,300 additional […] -
Distribution Is Bedrock of Success for Online Retailers
E-commerce has become a disruptive force in both the retail and distribution sectors. It has significantly impacted consumer buying habits as well as distribution networks and technology platforms. For the consumer, most of these disruptions have been positive. E-commerce was made possible in 1991, when the internet was opened to commercial use. Since then, one […] -
Supply Chain Risk Is a Rising Tide
The auto industry moves the needle in many different geographic markets, which often trickles down to other commercial industries. Stress cracks at the original equipment manufacturer (OEM) level often create shock waves down the supply chain, which increase risk factors for tier one, two, and three suppliers. Further, it appears that the risk factors today […] -
Expect the Unexpected
As the trade war between United States and China persists and competition abroad continues to grow, U.S.-based manufacturers have faced diminished profits and uncertain financial futures. In fact, Deloitte projects the U.S. manufacturing sector’s GDP growth levels for 2019 trended downward, adjusting from 3.7% to 2.7% during the year, while its projections for 2020 anticipate […] -
What to Expect When Expecting a Recession
With economists predicting an economic slowdown in 2020 and a recession perhaps as soon as 2021, how will valuations and EBITDA (earnings before interest, taxes, depreciation, and amortization) multiples fare? While it is difficult to get meaningful data specifically on distressed sale transactions, turnaround professionals can review key measures from the past 20 years in […] -
Uncertainty Persists Over Postpetition Interest Vis-à-Vis Unimpaired Creditors
Unsecured creditors in bankruptcy typically are barred from receiving postpetition interest on their prepetition claims against a debtor. That much is certain. But several courts recently have faced more challenging questions, such as whether unsecured creditors that are purported to be unimpaired under a debtor’s plan of reorganization are entitled to postpetition interest in order […] -
Thinking Small: Ken Yager
Q: How did you gravitate into turnaround/restructuring work, or did you head in that direction from the get-go? YAGER: I’m one of those “get-go” guys. First, my father was in general management, and at some point during my high school days when he was talking to me about careers, he showed me a book that […] -
TMA Talks: Gibson Restructuring Strikes the Right Chord
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 podcastchannel. […] -
Milestones: March 2020
Justin Flood has been promoted to partner at The Anderson Group, a lower middle market private equity firm based in St. Petersburg, Florida. Since joining the firm in 2007, Flood has been involved in more than 40 transactions spanning a wide range of industries and situations, including both in- and out-of-court restructuring transactions. He continues […] -
Newcomers: March 2020
Arizona Jacob Armour, Balbec Capital LP Sean Corrigan, BKAssets.com Stanley J. Feldman, Axiom Valuation Solutions Kamil Knap Atlanta Stephen Deason, OPA Rasa Elizabeth Garner, Troutman Sanders LLP Eric Gleaton, Gleaton’s Jacob Johnson, Alston & Bird LLP Leigh Lones, Rosenthal & Rosenthal Inc. Merle Worsham, Galaxy Capital Acquisition California – Northern Cecily A. Dumas, Baker & Hostetler LLP […]
Snapshot Article
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