As we start to see the light of a post-pandemic world, we continue to navigate the choppy waters of certain uncertainty. The articles on healthcare in this issue of the JCR highlight much about a troubled sector and address issues related to what is on the horizon for the restructuring community generally.
Issues like the long-term effects of the CARES Act and challenges that exist related to senior housing, exacerbated by the residual effects of the pandemic, are obvious. But what of the greater question around the future of restructuring and what comes next for our community?
This has been an extraordinary year on so many levels. We weathered a storm and hunkered down to prepare for an onslaught of work that has yet to materialize. Our members have stood steadfastly together, knowing that preparedness is critical to facing a future that holds so much uncertainty.
This is the moment when TMA shows itself to be more than an organization that focuses on turning around some business. It is about understanding disruption, supporting corporate health, and being proactive against the silent enemy volatility that is just over the horizon.
More and more, our restructuring community and our organization have been built on understanding disruption and knowing how to manage through it to a place of restored health or a true restructuring. That is the future of TMA, fueled in large part by the learnings we are amassing from this year of certain uncertainty.
Disruption is what is at our core, and those who understand it truly understand the many dimensions of what it means to be part of a powerful and empowering organization like TMA.
The pandemic disrupted all our personal and professional lives. It also disrupted how we interact and interface in the complex world of corporate America, largely for the better.
The evolving volatility many of our members were navigating early in the pandemic wreaked havoc on corporate health, while the silence that ensued in correcting disruption because of the governmental stimulus money that poured in has become the topic of the day.
TMA Tomorrow is about the disruption we are navigating today. We know that money will have been mismanaged and that zombie companies, saved for now by stimulus payments, may continue to thrive for a while. We know that sector volatility is real and that those who have recovered remain only a heartbeat away from again sliding into distress.
We stand together through TMA even as we express concern for the future of our community. But I remind you that our future is bright because at our core as an organization, TMA professionals understand disruption and know that it does not connote demise.
To the contrary, the readiness to gravitate to disruption and restore corporate health even as things may seem good on the surface is what gives being a TMA member more value and professional empowerment than members of any other organization in the corporate restructuring space enjoy.
In a year of certain uncertainty, we are building a state of preparedness for what is sure to come. We define a future for our members through understanding what disruption, in a counterintuitive moment, means today.
The professionals of TMA will weather this moment of stillness with proactive vision for how to navigate a most uncertain future that sits right before our eyes.
That is what disruption means and why it is the very fabric of our story, the story of TMA Tomorrow.
Scott Y. Stuart, Esq.
TMA Global CEO
sstuart@turnaround.org
@TMA_CEO
