As turnaround professionals, we deal with crisis or near crisis situations almost every day. The world of turnaround is not for the weak. The pace can be unrelenting and the stakes extremely high: businesses can shut down, equity holders can lose their capital, creditors can be left unpaid, entire...

The foundation of this house is strong, its pillars rich with knowledge, experience, and potential. On this strong foundation, we are building a great house that welcomes a diverse community of professionals from near and far. It is a place that all from our community can call home. This next...

To outsiders, the world of turnarounds and restructurings can seem like a vast industry of disparate professionals with numerous specializations spread across the globe. In reality, our world is actually a small, tight-knit community that is closely connected through a network of dedicated and...

While there does not appear to be single market force poised to strike in the near future equivalent to the mortgage crisis that precipitated the Great Recession, we are seeing various events that threaten to converge and create a perfect storm that could precipitate an economic downturn...

As professionals in the turnaround industry, we are consistently called upon to address liquidity issues and deteriorating financial and operational performance. One of the first steps we take is to diagnose the root cause of the distress. Once we identify the cause, we are better equipped to...

The parallels between a distressed company and a patient in need of healthcare are endless. One of the analogies we use most frequently to describe our work as turnaround and restructuring professionals is that of an emergency room doctor. Depending on the severity of the ailment, we liken the...

You may be familiar with the “six degrees of separation” theory—the idea that every person in the world is connected to every other person by six or fewer steps. According to the six degrees theory, every one of an estimated 7.6 billion people in the world can be connected to every other person on...

As professionals in the turnaround industry, each of us faces disruption on a daily basis, either with our clients or with our own businesses. Change is constant, and responding to disruption, whether proactively or reactively, is woven into our fabric. When I became a member of TMA in 2001, I...

While the TMA membership represents a wide cross-section of professions and perceptions, one thing that the members seem to share in common is an appreciation for “the numbers.” So here are some numbers for your consideration. Of course, numbers by themselves aren’t very helpful, so here’s a little...

In this, my final JCR column, I will forego a sentimental retrospective of my time as TMA Global President, now Chairman. Make no mistake, my time in TMA Global leadership has been a singularly exciting and rewarding experience—truly a career opportunity. But I much prefer to look forward through...