May 3, 2019 Newsletter

May 7, 2019

Friday, May 3, 2019 | TMA New Jersey | turnaround.org/newjersey

Message from the President

One of the great things about NJTMA membership is the chance to share insights with smart professionals, so I would like to start a virtual conversation about industry developments. I have seen a bit of a pick-up, which I refer to as the Expansion Correction. The strong economy is leading to higher wages and transportation costs while interest rates (though still at historically low levels) are increasing. At the same time, companies are often lowering prices to gain increased market share, putting pressure on margins and profitability. I expect to see many opportunities in the near future, as all the indicators are beginning to align. While I do not think we will see a large uptick until after the election in 2021, it is good to start preparing. What are you seeing in the market? I'd love to hear your thoughts and observations - please join the conversation on NJTMA's Group LinkedIn page!

Our premier event, the 2019 Mid-Atlantic Regional Symposium June 5-6, is coming up quickly. We are pleased it is moving to the Ocean Resort Casino (the former Revel property) in Atlantic City. Sydney J. Darling and the committee have done a great job organizing; see her report below and don't forget to REGISTER today!

Also coming soon is the TMA NOW Summit in Chicago on May 7. If you haven't registered yet, I urge you to do so now. It promises to be a great half-day program, providing substantive educational programming and networking opportunities to promote career growth and help women break through the glass ceiling. Also of note, there's so much going on with NJTMA NOW we are creating a separate NOW newsletter that will be sent twice a year to all Chapter members. Be on the lookout later this month for the inaugural newsletter from NJTMA NOW Chair Jeanine A. Krattiger.

In membership, we are actively recruiting to help keep the organization vibrant and strong and we need you to be our ambassadors. The larger the organization, the more ideas and referrals we can share. I urge each of you to reach out to other people who can benefit from our knowledge and expertise and bring at least one new person to a NJTMA event this year. Once they see what we do, they will be inspired to join us. Our goal is 250 members by the end of 2019 and we still have a way to go: we finished 2018 with 214 members and need to ensure all current members renew.

Finally, thanks to our sponsors (see Harvey's notes below) we've had some fantastic networking events and programming already this year. So, bring a colleague to the next one you attend, and please introduce them to me and other members of the NJTMA Board.

Steven F. Agran, CTP, MBA

Carl Marks Advisors

Fifth Annual NJTMA & George Mehm Scholarship and Seton Hall Basketball Game

On March 6 ^th , NJTMA hosted our fifth annual networking event and scholarship presentation at the Seton Hall Pirates versus Marquette Golden Eagles basketball game at the Prudential Center in Newark, NJ. This was a joint event with the Essex County Bar Foundation Young Lawyers Section and the Union County Bar Association. During the game we presented scholarships courtside to Seton Hall University students Surya Makkar, majoring in Mathematical Finance and Information Technology; and Thomas Fischbach, majoring in Accounting and Finance.

Congratulations to Surya and Thomas on the scholarships! We wish them continued success in school and in their future careers.

NJTMA members were treated to a great game with the Seton Hall Pirates, overcoming a 9-point deficit going on an 18 to 0 run to win the game 73 to 64.

Special thanks to George J. Mehm, CTP, President of MEHMCO Financial Services, Inc., who generously co-sponsored the scholarship for the fifth year. George earned his undergraduate and Master of Business Administration degrees at Seton Hall University and is a Seton Hall Pirates basketball season ticket holder. I would also like to thank the all who attended the event, the NJTMA Scholarship Committee and the NJTMA Board for their support.

William V. Giovanniello, CPA, CTP, CFF, CIRA

Managing Director, BDO USA, LLP - Transaction Advisory Services

Featured Gold Sponsor

SM Financial Services Corporation offers innovative alternatives to liquidations and wind-downs and provides a professional and efficient choice for trustees, receivers, attorneys, creditor's committees, secured lenders, turnaround/restructuring professionals and business advisors. We have the expertise to effectively value assets and efficiently pursue all available avenues of recovery, assuming the risk for our clients.

We address the total liquidation and wind-down process by purchasing financial assets, judgments, preferences, notes, accounts receivable, etc.; managing receivables and claims in wind-down situations; purchasing and/or collecting non-performing medical receivables; funding trustee litigation; processing class action claims; supervising auctions and sales of real estate, machinery/equipment, inventory and IP; and serving as receiver, special fiscal agent, assignee for the benefit of creditors and liquidating trustee.

www.smfinancialservicescorp.com

Take a bow, please.

NJTMA is incredibly lucky to have some of the best sponsors around, helping underwrite the cost of our events and other Chapter programs. We are grateful to our 2019 sponsors noted below - if you see one at an event, please thank them for their support.

Are you interested in becoming a sponsor? The benefits are tremendous. Among them: your firm gains visibility and builds positive brand awareness, you expand your referral network, and you help position your firm to be opportunistic as new deals arise. You'll also have a chance to demonstrate your expertise and thought leadership through events and speaking opportunities.

Harvey Topitz

Rivers Insurance Group

Featured Gold Sponsor

With decades of experience in litigation, compliance and transactional matters, Walsh is comprised of 28 dedicated, forward-thinking professionals. The practice spans a wide range of areas including business and commercial litigation, intellectual property and trade secret protection, class action defense, financial services and risk management with a focus on insolvency & creditors' rights, labor and employment, internal investigations, insurance law and bad faith litigation, cyber security and data protection, alternative dispute resolution, appeals and transactional work.

The firm has offices in Newark, New York City and Philadelphia.

More information can be found at Walsh.Law

www.walsh.law

Let's break the ceiling!

As I wrote when I took this position last year, our membership goal is 250 members by the end of 2019. Nineteen new members (below) have joined since our last newsletter, so our goal is within reach.

So here's my challenge to you: bring at least one new member to one event this year. If just a quarter of them end up joining, we'll have met our goal. Think about how you've benefitted from membership (helpful contacts? education? camaraderie?) then look around your office or flip through your contacts lists and think about which of your colleagues would also benefit.

Our roots may be in turnaround, but we have grown into a more robust organization with members from many disciplines involved in turnaround, restructuring and corporate health. We offer specialized groups for young professionals (NextGen) and women (NOW), and we host over 20 education and networking events every year throughout the state for professionals of all ages and experience levels.

One more fun fact: 85% of TMA Global members report having done business with another member as a result of their involvement in the association. So please join me in a hearty welcome to our newest members. You can connect to them through the Member Directory or if you see them at an event, introduce yourself!

John McIntyre III, Gearty & McIntyre LLP
Stephen Halasnik, Financing Solutions
Anthony D'Elia, Connell Foley LLP
Neil Ross, Omniscient Financial LLC
Michael Oppenheim, Student
Douglas Flannery, CR3 Partners
DonaldSerek, Simplicity Financial Solutions
Kevin Kettell, Appraisal Economics
James Murphy, NFS Leasing
Sam Taddeo, Rutgers University
Timothy Nichols, Seton Hall University
John Kovacs, CFO Consulting Partners LLC
Marc Mellman, Clermont Strategic Consulting LLC
Rick Wright, Berkeley Research Group
Debbie Godt, 44 Business Capital
Rachel Ginzburg, Porzio, Bromberg & Newman, PC
Wayne Ackerman, SEAVIEW CFO Consulting
Carrie Essenfeld, Oak Point Partners
Satakshi Malik, Deutsche Bank AG

Member News

Congratulations to NJTMA Board Member Jeanine Krattiger!

Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, announced the promotion of Jeanine Krattiger to Managing Director. As Managing Director, Krattiger leads the firm's strategic marketing and business development initiatives including events, brand awareness, content marketing, and digital and internal communications.

Joseph L. Schwartz, Esq., Partner

Riker Danzig Scherer Hyland Perretti LLP

Featured Gold Sponsor

At Carl Marks Advisors, complexity is our specialty. We deliver comprehensive, durable resolutions to difficult situations by collaborating and partnering with our clients. We integrate industry, operational, and transactional expertise to ensure clients receive the best possible service and the full support of our experienced teams across industry sectors.

Carl Marks Advisors brings a culture of reliability, integrity, and personal commitment to every assignment. Our proactive, persistent approach breaks through roadblocks, identifies a viable path forward, and creates the alignment and momentum needed to achieve a resolution. Our experts provide insightful, innovative, and effective solutions to clients in a dynamic and rapidly changing landscape.

Get to know our team, our expertise, and our innovative approach by visiting our newly redesigned website. See how we create solutions to complex problems for our clients.

www.carlmarksadvisors.com

Don't miss the event of the year!

Mark your calendars: the 2019 TMA Mid-Atlantic Regional Symposium will take place June 5-6, 2019, at Ocean Resort Casino in Atlantic City. Hosted by the TMA New Jersey, Chesapeake, and Philadelphia/Wilmington Chapters, this premier event for the Mid-Atlantic region includes 48 intense hours of networking, deal-making, and professional development.

We're looking forward to the keynote presentation from U.S. Marine Corps Lt. Col. Robert J. Darling (ret.) on Crisis Management, Leadership, and Decision Making. After terrorists crashed airliners into the World Trade Center towers and the Pentagon on September 11, 2001, Lt. Col. Robert J. Darling rushed to the underground bunker at the White House. There he served as a liaison among the vice president, the national security advisor, and the White House Situation Room.

The planning committee has also developed a robust slate of educational programs where you can earn up to 5 CLE and 7 CPE/CTP credits. Educational sessions will kick off with a healthcare plenary panel, "Do Not Harm: The Latest in Healthcare Restructurings." Other panels include "Conflict of Interest or Competitors in Conflict?"; "Lender Panel: Shield or Sword - Are You Covered?"; and "Lust for Life: Cannabis, Casinos, and Technology." Also, esteemed bankruptcy judges will address recent legal trends in restructuring proceedings in the interactive Bankruptcy Judges' Roundtable session; and economists will share their competing views on the current condition of the economy and their predictions for the future.

Networking events include the ever-popular Golf Outing, TMA NOW Luncheon at Sky Cafe and Exhale Spa, Topgolf Swing Suite, TMA NextGen Dinner and countless other receptions and breaks to network with colleagues and friends.

Special thanks to the following NJTMA members who are members of the Symposium Executive Committee: