Howard Brod Brownstein of The Brownstein Corporation has been appointed as an independent director of Pico Holdings Inc., which has business segments that acquire and develop water resource and storage operations in the Southwest and real estate operations in California, Washington, North and South...
Baker A. Smith, CTP , is a managing director in the Atlanta office of BDO Consulting LLC. He has more than 25 years of experience in crisis management, turnaround planning, corporate renewal, and strategic advisory services, and has advised company owners, management, lenders, creditors, and...
When turnaround professionals take on the challenges of a financially distressed client, the first issue they often must address involves costs related to human resources. Chief among them are expenses for the company’s employees’ health benefits. In the last several years drastic changes have...
With domestic steel prices hovering around their lowest levels since May 2009, many U.S. steel distributors and service centers (hereafter collectively referred to as service centers) find themselves facing unprecedented challenges. The combination of a strong U.S. dollar; weak demand stemming from...
Market prices for most steel, aluminum, and copper products are at or near historical lows not seen since early 2009 following the global financial crisis and resulting recession. Market barometers and the global economy indicate that the remainder of 2016 could experience further market price...
Although many of the provisions of the Patient Protection and Affordable Care Act, popularly known as “Obamacare,” did not take effect until several years after its March 2010 enactment, supporters and opponents would agree that Obamacare enacted sweeping and significant changes not only to the...
U.S. Bankruptcy Code Section 363 asset sales have become a favored bankruptcy alternative to the traditional Chapter 11 reorganization. One big reason is perceived cost savings. Because Section 363 sales generally are concluded much sooner than confirmation of a Chapter 11 plan, the associated...
A customer’s bankruptcy often results in a sharp reduction to the value of the receivables owing from the customer. However, in addition to the drop in asset value, there can also be further liability when the bankruptcy trustee later demands the return of a significant amount of money that the...
When I last served as guest editor for the JCR , we focused exclusively on an industry familiar to most turnaround practitioners—construction contracting. This time around, readers have the opportunity to dive into a wealth of knowledge spanning a number of current and pervasive topics impacting...
I’ve just returned from the TMA Eastern European Conference held at the Czech National Bank in Prague. In its third year, this conference continues to grow by attracting individuals engaged in or interested in turnaround, restructuring, insolvency, and corporate renewal in the Central East European...
