|Corporate Experience Highlights One of our most important strengths results from our experiences spanning a wide range of industries and markets. These experiences have given us a valuable mix of knowledge and expertise to apply to a variety of business situations and predicaments. We have improved the financial and operational performance of both large and small businesses when they have been trying to attain the next level of success or when they have been under severe financial stress. These businesses have included both extremely successful household names as well as troubled companies needing an immediate turnaround. A sampling of our industry experiences is as follows:
A few brief examples of our frequent client situations are as follows:
- Facilitating Succession Planning
The founder of a construction company decided to retire and transfer management to his son. He recognized that the business environment and the methods of competition had changed and that new blood was needed. Even though his son had worked in the company for many years he needed help to transition to the role of CEO. We provided him with the tools to focus on cash flow, change the organization to reflect current business needs, implement new budgeting and planning techniques and expand into new areas with high profit potential.
- Finding the Underlying Problem and Helping to Negotiate Sensitive Issues with the Customer
A minority owned trucking company in a joint venture with a much larger trucking entity was performing well but had a cash flow crisis. The issue resulted from long lags in payments from an OEM due to inaccurate invoice submissions. We worked with the OEM and the trucking company to root out the invoicing problems and assisted in negotiations to collect invoices much faster.
- Maximizing Value for the Creditors
An electronics manufacturing company was no longer viable and had run out of cash. We quickly prepared a plan to finish out production for key customers and maximize the final cash inflow streams. We also helped marshal the equipment and successfully facilitate an auction that brought in higher proceeds for the bank than originally projected.
- Helping a Bank to Pick Up the Pieces
A construction company bid on a number of large jobs, undercutting its own cost structure. This resulted in a cash shortfall and a liquidation of the company. We worked on the collection of the retention amounts receivable. We also prepared a thorough liquidation analysis identifying the remainder of potential payments necessary to cause essential vendors to complete operations.
- Strengthening the Position of the Unsecured Creditors
An automotive supplier had run out of cash and filed for Chapter 11 bankruptcy. We worked for the unsecured creditors committee to quickly evaluate the financial condition of the debtor company and successfully negotiated tough covenants with the debtor to hold them to their optimistic promises in their reorganization plan.
- Helping Management to Achieve a Turnaround and Resume Growth
A marketing company was experiencing cash flow problems. We helped the company to immediately institute a 13-week cash flow projection to enable management to gain a much better and more detailed understanding of all of their cash inflows and outflows. Positive changes resulted from management receiving timely, accurate information. For example, we discovered that staff would often work on client projects for long periods of time without billing the client accordingly (because they wanted to be within budget). Also, little or no time was spent in marketing to obtain new clients. Resources were redirected quickly to resolve both issues.