Podcasts about turnaround management association

https://lp.constantcontactpages.com/cu/KnR13hm/turnaroundtimeThe inventor of the famous Z-score for evaluating corporate financial distress — and Turnaround Time favorite — NYU Professor of Finance Emeritus Edward Altman returns for his fourth appearance on our podcast. In this episode, Professor Altman discusses the evolution of the Z-score over nearly 60 years, shares insights on current market conditions, including the impact of tariffs on corporate distress, and reveals surprising trends in distressed exchanges. In this episode, Professor Altman is interviewed by Joseph Sarachek, managing partner of The Sarachek Firm and adjunct professor at NYU Stern School of Business. To learn more about turnaround management, news, and experts, visit turnaround.org.   Episode Links View Professor Altman's slides here.  Our episode is sponsored by Change Capital. Learn more about Ed Altman at NYU Leonard N. Stern School of Business. Learn more about Joseph Saracheck at Saracheck Law. Learn more about the Turnaround Management Association here. Our music is by Kit and the Calltones.

I'm not a financial advisor; Superpowers for Good should not be considered investment advice. Seek counsel before making investment decisions.Watch the show on television by downloading the e360tv channel app to your Roku, AppleTV or AmazonFireTV. You can also see it on YouTube.When you purchase an item, launch a campaign or create an investment account after clicking a link here, we may earn a fee. Engage to support our work.Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow!Devin: What is your superpower?Matt: I'd say, at the end of the day, it's passion.The IPO market has long been an exclusive club, dominated by institutional investors and the ultra-wealthy, while everyday investors are left watching from the sidelines. Matt Venturi, Founder and CEO of ClearingBid, Inc., is changing that. With decades of Wall Street experience, he saw firsthand how outdated systems and entrenched practices created barriers for smaller investors. Now, he's pioneering a platform that levels the playing field, allowing everyone to participate in IPOs through their brokers, breaking down long-standing financial barriers."What we're really doing is allowing everybody to come in at that IPO price and be able to have their order seen and recognized," Matt explained. Traditionally, Wall Street has prioritized its biggest institutional clients, giving them first access to newly issued stock at a discounted price, while retail investors are left to buy shares in the secondary market at inflated prices. ClearingBid is disrupting this system by introducing transparency, connectivity, and inclusion—core values that drive the company's mission.For companies going public, ClearingBid offers a revolutionary approach to capital raising. Rather than relying solely on institutional investors, companies can now cast a wider net, tapping into affinity investor groups and everyday market participants. This shift not only democratizes access but also builds a more engaged and loyal shareholder base. Matt pointed to Reddit's IPO as a cautionary tale: "Only 7% of that offering ended up going to Reddit users—93% went to the big institutions. Those who wanted in on the IPO were left buying shares later at higher prices."Beyond its innovation in IPOs, ClearingBid is proving the power of regulated investment crowdfunding. The company raised $5 million from 3,900 investors in a campaign that far exceeded expectations. "At first, I wasn't sure it was the right approach for us, but it turned out to be an incredibly positive experience," Matt shared. "Our investors aren't just backers—they're evangelists. They believe in our mission and help us spread the word."With the success of its crowdfunding campaign and its game-changing IPO platform, ClearingBid is poised to shake up Wall Street. By opening access to IPOs for all investors, Matt Venturi isn't just leading a company—he's leading a movement.tl;dr:* Matt Venturi is revolutionizing the IPO market by making it accessible to retail investors through ClearingBid.* Traditional IPOs favor institutional investors, but ClearingBid aims to create a more inclusive and transparent system.* Matt raised $5 million via regulated investment crowdfunding, demonstrating the power of affinity investors.* His superpower, passion and conviction, fuels his ability to challenge industry norms and drive meaningful change.* Entrepreneurs can learn from Matt's success by mastering fundamentals, rallying support, and leading with enthusiasm.How to Develop Passion and Conviction As a SuperpowerMatt Venturi's superpower is passion and conviction. Throughout his career, from Wall Street to entrepreneurship, he has harnessed these qualities to push forward transformative change in the financial industry. "You have to be passionate about what you do," Matt said. "When you're speaking to something that you truly believe in, that conviction gives you the confidence to go toe-to-toe with the best in the industry."One of the most compelling stories that illustrates Matt's passion occurred as he worked to launch ClearingBid. Many skeptics doubted whether he could challenge Wall Street's entrenched system of IPO allocations, questioning if a more inclusive approach could truly work. But instead of backing down, he leaned into his conviction, tirelessly advocating for a system that allows retail investors to participate in IPOs at the same terms as institutional players. His relentless drive led to a $5 million crowdfunding raise and the launch of a platform poised to redefine capital markets.For those looking to develop passion and conviction as strengths, Matt offers key insights:* Master the Fundamentals – A strong foundation in your field provides the confidence to take bold steps.* Surround Yourself with Supporters – Find a team and a community that believes in your mission.* Be a Cheerleader – Lead with enthusiasm, especially in tough times.* Welcome Skepticism – Use criticism as fuel to refine and strengthen your approach.* Celebrate Wins, Learn from Setbacks – Resilience is essential for maintaining conviction over the long haul.By following Matt Venturi's example and advice, you can make passion and conviction a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileMatt Venturi (he/him):Founder & CEO, ClearingBid, Inc.About ClearingBid, Inc.: ClearingBid is the world's first and only IPO network. ClearingBid opens IPO investing for all, drives true market-based pricing, assures equitable allocations, and creates economic value for companies, investors and the entire investment ecosystem.Website: www.clearingbid.comX/Twitter Handle: @clearingbidCompany Facebook Page: fb.com/ClearingBid/Biographical Information: Matt is the Founder & CEO of ClearingBid, Inc., a proprietary offering platform developed to provide fair and open access to IPOs and new security issues. Matt previously founded a middle-market investment bank. Between 1998 and 2001, he worked with Houlihan Lokey as the Managing Director responsible for the investment banking efforts in San Francisco, where he initiated the firm's Technology Banking Group and cross-border capabilities while serving as a member of the firm's Investment Banking Committee, Finance Committee and Strategic Alliance Committee. Previously, Matt was with Salomon Smith Barney's Corporate Finance Division for 12 years, including serving as the Managing Director responsible for the Western Region Emerging Growth Group and as a senior member of the firm's Financial Restructuring Group. He was responsible for developing several new product initiatives, including a proprietary franchise finance program, the firm's initial asset-backed financing efforts and the High Yield Debt Financing Group. Prior to Salomon Smith Barney, he worked with Merrill Lynch & Co. in New York between 1979 and 1983, initially as a Corporate Intern and subsequently in several sales and capital markets-related areas, including Corporate Syndicate. He is a Certified Turnaround Professional (CTP) with Turnaround Management Association and is recognized as an “Industry Veteran.” Matt received a BS degree in Commerce from Santa Clara University and an MBA degree from New York University's Stern Graduate School of Business.X/Twitter Handle: @mattventuriLinkedin: fb.com/ClearingBidInstagram Handle: @clearingbidSupport Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today's advertisers include FundingHope, Solvari, Health Care Originals and Arcade Therapeutics. Learn more about advertising with us here.Max-Impact MembersThe following Max-Impact Members provide valuable financial support:Carol Fineagan, Independent Consultant | Lory Moore, Lory Moore Law | Marcia Brinton, High Desert Gear | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Ralf Mandt, Next Pitch | Scott Thorpe, Philanthropist | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.* Impact Cherub Club Meeting hosted by The Super Crowd, Inc., a public benefit corporation, on February 18, 2024, at 1:00 PM Eastern. Each month, the Club meets to review new offerings for investment consideration and to conduct due diligence on previously screened deals. To join the Impact Cherub Club, become an Impact Member of the SuperCrowd.* SuperCrowdHour, February 19, 2025, at 1:00 PM Eastern. Devin Thorpe will lead a session on "Calculating Your Funding Needs," providing essential guidance for entrepreneurs and impact-driven businesses to determine the right amount to raise for sustainable growth. Whether you're preparing for your first crowdfunding campaign or planning to scale, this is a must-attend! Don't miss it!* Superpowers for Good Live Pitch for Q1-25, March 12, 2025, at 8:00 PM ET. The application window for the 1st quarter live pitch event is now open. Apply here.* SuperCrowdLA: we're going to be live in Santa Monica, California, May 1-3. Plan to join us for a major, in-person event focused on scaling impact. Sponsored by Digital Niche Agency, ProActive Real Estate and others. This will be a can't-miss event. Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow!Community Event Calendar* Successful Funding with Karl Dakin, Tuesdays at 10:00 AM ET - Click on Events* Capital Raise Strategies for Purpose Driven Enterprises, hosted by PathLight Law, February 25 at 1:00 PM ET.* Igniting Community Capital to Build Outdoor Recreation Communities, Crowdfund Better, Thursdays, March 20 & 27, April 3 & 10, 2025, at 1:00 PM ET.* NC3 Changing the Paradigm: Mobilizing Community Investment Funds, March 7, 2025* Asheville Neighborhood Economics, April 1-2, 2-25.* Regulated Investment Crowdfunding Summit 2025, Crowdfunding Professional Association, Washington DC, October 21-22, 2025.Call for community action:* Please show your support for a tax credit for investments made via Regulation Crowdfunding, benefitting both the investors and the small businesses that receive the investments. Learn more here.If you would like to submit an event for us to share with the 9,000+ members of the SuperCrowd, click here.We use AI to help us write compelling recaps of each episode. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

TMA Chicago Midwest Podcast hosted by Paul Musser of Katten” features active members and sponsors of TMA Chicago Midwest, a regional chapter of the Turnaround Management Association. Hosted by Insolvency and Restructuring Partner Paul Musser, each episode features conversations with turnaround practitioners, lenders, attorneys and investors. The podcast strives to demystify the world of corporate renewal and restructuring and explore the personal motivations of experts in the field.

Meet Michael Appel, a seasoned senior executive with over 50 years of experience in the retail industry, including turnaround CEO at Rue21.  As the Managing Director at New York-based Getzler Henrich & Associates, he leads the Retail Practice for the firm, specializing in operational turnarounds for retail businesses.   We talk about the state of retail today, the role of social media and the China Factory Direct model, what has actually changed with the modern consumer and what has stayed the same, what it takes to compete in 2024 and beyond, and what it takes to come back from the brink and creative a positive forward momentum.  Let's listen in now.You can reach Michael at C: 917-789-3615mappel@getzlerhenrich.com Michael Appel is a Managing Director at Getzler Henrich & Associates, based in New York City. Michael leads the Retail Practice for the firm.Michael has expertise in women's apparel, accessories, menswear, childrenswear, and all categories of home furnishings across department stores, specialty stores, luxury, off-price, and direct response channels of distribution. Michael graduated from Brandeis University (Phi Beta Kappa) and has an MBA with Distinction from Harvard Business School. Over the years, he has served on multiple corporate and non-profit boards, including serving as the Chairman of the Compensation Committee for Charming Shoppes, and as Chairman at Loehmann's.Select experiences include:Served as CEO and Chairman of rue21, the 700-unit omnichannel fast-fashion retailer, where he led the company's successful turnaround from its emergence from Chapter 11 between 2017 and 2020.Served as the Interim CEO for Laura Ashley, Wilkes Bashford, and Baccarat. Additionally, he has provided turnaround services for Kenneth Cole, Avery Boardman, Versa Partners, and DW PartnersServed as Financial Advisor to the Creditor's Committee of Kasper ASL, a leading manufacturer of women's apparel under the Kasper and Anne Klein brands. For his work on Kasper, the Turnaround Management Association awarded Michael its Large Company Turnaround of the Year AwardProvided strategic advisory, due diligence, and expert witness consulting services to retailers, financial institutions, law firms, and consumer product companies.Was retained at HCI Direct as CRO to oversee the company's prepackaged Chapter 11 proceedings and the successful implementation of its restructuring plan. With the departure of HCI Direct's CEO, he was named Interim CEO, successfully managing the business, achieving planned goals, introducing a new product line, and recruiting a new CEO.Currently, Michael serves on the Board of Ashley Stewart, Inc., the Advisory Board of FIT's Global Fashion Management MBA program and is a member of The Fashion Group and the Turnaround Management Association, where he served on their National Board, and was Chairman of the TMA Awards Committee. About MichaelMichael is the Founder & President of M.E. LeBlanc & Company Inc. and a Senior Advisor to Retail Council of Canada and the Bank of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, Today's Shopping Choice and Pandora Jewellery. Michael has been on the front lines of retail industry change for his entire career. He has delivered keynotes, hosted fire-side discussions with C-level executives and participated worldwide in thought leadership panels. ReThink Retail has added Michael to their prestigious Top Global Retail Influencers list for 2023 for the third year in a row.Michael is also the president of Maven Media, producing a network of leading trade podcasts, including Canada's top retail industry podcast_,_ The Voice of Retail. He produces and co-hosts Remarkable Retail with best-selling author Steve Dennis, now ranked one of the top retail podcasts in the world. Based in San Francisco, Global eCommerce Leaders podcast explores global cross-border issues and opportunities for eCommerce brands and retailers. Last but not least, Michael is the producer and host of the "Last Request Barbeque" channel on YouTube, where he cooks meals to die for - and collaborates with top brands as a food and product influencer across North America.

Learn more about Michael Wenderoth, Executive Coach: www.changwenderoth.com SHOW NOTES:Martin Young, Managing Director at M3 Partners, explains what turnaround and restructuring experts do – and how his training as a military chaplain has served him and his work on Wall Street. We discuss: thinking in terms of best interests, understanding organizational behavior through the theological concept of total depravity, how a chaplain approaches contentious situations – and the misunderstood paradigm between communication and being effective.How Martin's religious side emergedHow his theological training and military service shaped his worldview – and connect to his Wall Street jobThe US Constitution on bankruptcy and the idea of a fresh startHow Marty defines power: formal and informalThinking in terms of “the best interest” testsIs the restructuring world all about brutal cost cuts and layoffs?The two core things that turnaround professionals look atIncome Statements and Balance Sheets, Turnarounds vs RestructuringManaging constituencies who have influence & navigating egos and politics: The first thing you need to doTriangulate to the core, shed and thinking it terms of a bankruptcy paradigmThe grey areas create the most contentionLooking at organizations through the theological lense of “total depravity”Forcing a process upon people where they actually have to do things that are in their best interestHow his chaplain training helps him when advising executives and companiesGoing into contentious meetings, what Marty does to stay self-controlled, be able to listen and understand other perspectivesHow to share bad news without pissing off the CEOWhat are people's anchors?“Leadership is identifying a problem with a moral center that people can get behind and want to solve”The “Theology -> Ethics -> Leadership” progression that is sadly being lostThe basic issues we all struggle withThe misunderstood paradigm around communication and being effective BIO AND LINKS:Marty Young is a globally recognized restructuring, turnaround, performance improvement and investment banking professional and executive with over 25 years of financial and operational experience in addressing over 75 special situation investments. He is a Managing Director at M-3 Partners, a top Wall Street boutique restructuring advisory and investment firm, serves on the Advisory Board of the School of Industrial and Systems Engineering of Georgia Tech, and has held executive roles with Noragh Analytics, Young Broadcasting, Best Textiles and most recently as CEO of Buckle, an innovative insurance company that serves the shared economy. Marty has been globally recognized by the Turnaround Management Association, Turnaround and Workouts, and the Global M&A Network, including being named one of the Top 100 Restructuring Professionals. Marty is a West Point graduate and served as an Officer in the U.S. Army Infantry, earned an MBA from the NYU Stern School of Business and an MS in Operations Research from Georgia Tech, and trained at Gordon Conwell Theological Seminary, from which he holds a Masters of Divinity, Masters of Theology (Biblical Theology), and Doctorate of Ministry in Workplace Theology, Ethics and Leadership. Marty serves as a Chaplain in the Delaware National and is a graduate of the US Army Command and General Staff College. Linkedin: https://www.linkedin.com/in/martinsyoung/M3 Partners: https://m3-partners.comBuckle: https://www.buckleup.comMichael's Book, Get Promoted: https://tinyurl.com/453txk74

Sheppard Mullin's Restructure THIS! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing. In this episode, Scott Stuart, CEO of Turnaround Management Association (commonly referred to as "TMA”), joins us to discuss the role of professional organizations in the restructuring space, including what distinguishes TMA from similar organizations, the importance of its diverse membership, and how restructuring has evolved over the last 30+ years.   What We Discussed In this Episode: What brought you to where you are today? What's your background in the restructuring industry? What is TMA? Why is it important? How does its unique structure distinguish TMA from similar organizations in the restructuring space? Why does it matter that TMA is agnostic and doesn't cater to a specific type of restructuring professional? What are some of the unique groups within TMA that members can join? Since becoming CEO, how has TMA promoted and enhanced the visibility of members with diverse backgrounds? How have awards programs paid off for TMA and its membership? Can you explain why such an impressive roster of partners have joined TMA's growing list of sponsors? What has been the net effect of the TMA's Hall of Fame? What's on the agenda for this year's annual conference in San Francisco? As a restructuring professional for over 30 years, what's your perspective on how the space has evolved?   About Scott Stuart Scott Stuart is CEO of TMA, a global nonprofit organization and professional community focused on turnaround management, corporate restructuring, and bankruptcy. Established in 1988, the organization boasts approximately 10,000 members, including turnaround practitioners, attorneys, accountants, advisors, liquidators, bankers, academics, government employees, and members of the judiciary, in 55 chapters spread across 20 countries and 4 continents. Scott has held volunteer leadership roles at TMA for nearly 20 years. Prior to becoming TMA's CEO in 2018, he gained 30 years of experience in a variety of diverse roles in the corporate restructuring space. As an attorney, Scott has held positions at private law firms, in-house corporate legal departments, and the Department of Justice's United States Trustee Program. Scott has also served as a corporate executive, including Executive Director at Donlin, Recano & Company, Inc. In addition, Scott co-founded Esquify, Inc., a legal tech startup in the document review space.   About Justin Bernbrock Justin Bernbrock is a partner in the Finance and Bankruptcy Practice Group in Sheppard Mullin's Chicago office, where he focuses on all aspects of corporate restructuring, bankruptcy and financial distress. He represents clients across a wide range of matters, including debtor and creditor representations. He has substantial experience in out-of-court and in-court restructurings, primarily in the Southern District of New York, Eastern District of Virginia, District of Delaware and Southern District of Texas. Prior to private practice, Justin served with distinction as an Aviation Warfare Systems Operator in Patrol Squadron FIVE and as a Weapons Tactics Instructor in Patrol and Reconnaissance Wing ELEVEN. During his nearly 10 years of active duty in the United States Navy, he was awarded the Navy Commendation Medal twice, including once for meritorious service during combat operations in Iraq. Justin also received the Global War on Terrorism Medal for his service in Kandahar, Afghanistan.   Contact Information Scott Stuart Justin Bernbrock   Thank you for listening! Don't forget to SUBSCRIBE to the show to receive every new episode delivered straight to your podcast player every week. If you enjoyed this episode, please help us get the word out about this podcast. Rate and Review this show in Apple Podcasts, Amazon Music, Google Podcasts, Stitcher or Spotify. It helps other listeners find this show. This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.

Inventor of the famous Z-score for evaluating corporate financial distress, NYU Professor of Finance Emeritus Edward Altman returns to Turnaround Time to share his views — and predictions — for the restructuring industry. In this episode, Professor Altman is joined by Pankaj Amin, Managing Director of SC Ventures and past President of the Turnaround Management Association. To learn more about turnaround management, news, and experts, visit turnaround.org.   Episode Links Our episode is sponsored by Sherwood Partners. Learn more about Ed Altman at NYU Leonard N. Stern School of Business. To follow along, access the Powerpoint here. Learn more about Turnaround Time here. Our music is by Kit and the Calltones.

In this fascinating podcast episode recorded in the summer, Rebecca Harding from Saltwhistle Communications talks to Scott Stuart, CEO of the Turnaround Management Association. They discuss the current global situation for business and their advisors and the future for the TRI industry.

  William De Temple is a seasoned senior executive and Board Member with more than 40 years of experience and accomplishments in multiple industries both domestically and internationally. He is passionate about helping companies grow, and he knows how to recruit, build, and lead management teams that consistently outperform the market while achieving the highest possible bottom-line results. Mr. De Temple is Chairman Emeritus of the Leadership Business Council and a number of operating companies. He also serves on the boards of Turnaround Management Association, the Association for Corporate Growth, the Tiger Bay Club, Kiwanis International, where he was named "Volunteer of the Year" in 2005, and dozens of other civic organizations. Today he speaks on building a 100 million dollar business!

This show is sponsored by Leopard Solutions Legal Intelligence Suite of products, Firmscape, and Leopard BI. Push ahead of the pack with the power of Leopard. For a free demo, visit this link: https://www.leopardsolutions.com/index.php/request-a-demo/ Bruce Werner spent the first half of his career at Werner Ladder, with executive responsibilities in all facets of the business. During that time the family completed 6 acquisitions, and sustained 10% annual growth for over a decade. The family later exited the business in a successful LBO. As an independent consultant, he helps owners address their governance, strategy, capital, talent, and succession issues. This work is based on several decades of deep operational experience. He has started and built businesses in finance, energy, and technology, in addition to being a partner in a private equity fund. His governance experience includes forming new boards and serving on established boards, both advisory and fiduciary. Six of his ten board seats have been with family businesses. He has performed Audit, Governance, and Compensation committee work. In the non-profit world, Mr. Werner has served as Board Chair, and worked on Governance, Nominating, Strategy, Compensation, Finance, and Investment committees. Mr. Werner recently published Your Ownership Journey, a new book which focuses on the 12 secrets of personal and business success. An accomplished public speaker, he has connected with business audiences across the country on these same topics, working with Bank of America Private Bank, Vistage, Cavendish Global Forum, National Association of Home Builders, and the Turnaround Management Association. His academic relations include Northwestern's Kellogg School, Cornell's Smith Family Business Initiative, and Loyola University's Family Business Center. In addition to numerous webinars and podcasts, he has been published in the Wall Street Journal, Private Company Director, Wealth Management, Estate Planning, Trusts & Estates, and other national publications. Mr. Werner received a B.S Mechanical Engineering/Public Policy from Carnegie-Mellon University. As an IBM Fellow, he graduated from Stanford University with a M.S. Manufacturing Systems Engineering degree. He completed his education at the MIT Sloan School, earning an M.S. Management with a focus on Strategy and Operations. Links: www.brucewerner.com www.konaadvisors.com https://www.linkedin.com/in/brucedwerner/

Empreender é um desafio e exige coragem. Por isso, é fundamental escolher o parceiro certo. Às vezes, ter um sócio ao teu lado vai te ajudar e muito, pois um pode complementar as forças do outro. Mas é preciso saber fazer muito bem essa escolha. É sobre esse assunto tão importante a conversa deste episódio. Marília Feix recebe o advogado Guilherme Bier Barcelos, sócio-diretor do RMMG Advogados, escritório de advocacia com mais de cinco décadas de atuação, com base no Rio Grande do Sul. Guilherme mora em São Paulo e atua com consultoria e contencioso societário. É membro da Comissão de Sociedades de Advogados da OAB/RS e associado junto ao Turnaround Management Association do Brasil e ao Comitê Brasileiro de Arbitragem (CBAR). Saiba mais em: https://www.instagram.com/sejavero/

A replay of Episode 15 - Managing Your Banking Relationship, with some updated context and 3 tips to immediately improve your business.If you are facing a turnaround or restructuring, you need to actively manage your banking relationship and do everything possible to gain the support of this critical stakeholder.  From the bank's perspective, the lending relationship starts with sales and marketing and, after the loan is made, moves to maintenance and observation. If covenants are violated, an early warning system for financial trouble, and not remedied, your loan may be moved to a special accounts group for administration and collection.  While every file is different, the approach of the special accounts group will vary from institution to institution.  Some banks may be aggressive and seek to immediately collect as much as possible.  Others may be open to support a turnaround or restructuring plan to enhance the bank's possible recoveries in the future, with the added benefit of saving your business and jobs.In every troubled situation, the borrower requires an accommodation from the lender.  But the lender is focused on their recovery (collection), which may have nothing to do with extending an accommodation to the borrower.  The bottom line is that, for the bank, it always boils down to deciding whether to support the borrower and its turnaround plan, or not.Therefore, it is up to you to provide as much ammunition to the special accounts managers as possible to give them a reason to support you.Here are some tips:- Admit you're in trouble:  If possible, approach the lender proactively before they conclude on their own that there is a covenant violation.  Come prepared with a plan to fix the problem and be forthcoming and honest with inevitable negatives throughout the process.- Have a plan:  Build a turnaround plan that is optimistic enough for the bank to support but also realistic.  The plan must include a limited number of key performance metrics (not revenue) that drive your business and that can be used to quickly monitor your performance.-  Stop the bleeding:  Stop losing cash.  Now.  Right now.  Do everything possible to scale back and not make the bank's secured recovery position worse than it already is.   - Get a turnaround team:  Your current management team is probably not suited for the battle.  You need experienced turnaround professionals, like a CRO, and legal counsel experienced at dealing with special accounts groups and insolvency matters. - Watch your attitude:   Know your situation and the personalities involved.  Bankers are human beings with egos like all of us and they have gone through this process many, many times.  You haven't.  - Be committed:  Cancel vacations.  Cancel golf and boondoggles.  Deliver on plans, on time.  Prove that you are taking this seriously. For more tips and discussions, check out Episode 15 of Martinis With Scott with David Cohen, national leader of Gowling WLG's Financial Institutions & Services Group in Canada and past global chair (2017) and past global president (2016) of the Turnaround Management Association.Learn more at https://www.sinclairrange.comFollow on Twitter @MartinisWScottFollow on LinkedIn https://www.linkedin.com/in/scott-sinclair-7b09681b/Listen on iTunes https://podcasts.apple.com/ca/podcast/martinis-with-scott/id1458646358Listen on Spotify https://open.spotify.com/show/28Ynal2p80yY8r1n1WLpqnListen on Amazonhttps://music.amazon.com/podcasts/2e65e920-5273-49ef-b1bf-94bc5ca73bbd/Martinis-with-Scott

 Ep 38 – Psychological and Practical Pitfalls in Family Business Transitions. During Episode 38 of The Family Biz Show, we talk to Dr. Steven Rolfe* & Renee Fellman* about business problems & family dynamics.  Major challenges that can occur in transition of the family business  Chicken or the egg? What the symptoms of those challenges could look like  How to create a family game plan to manage transition  The crossover that exists between turnarounds & transitions    This Weeks Guests  Renee Fellman*  Renee Fellman is an award-winning turnaround expert who has rescued multiple family businesses from the brink of disaster. In demanding situations, she has:    *   Spearheaded the planning and implementation of strategic, operational and financial improvements    *   Created product, process and culture change    *   Designed and installed management accountability systems    *   Recruited and built high performance teams    *   Cleaned up acquisitions-gone-bad    *   Enhanced family relationships    *   Led succession planning, including hiring three non-family member CEOs    *   Worked effectively with all-family-member boards of directors  Renee has been a speaker at the international conferences of the Family Firm Institute and Turnaround Management Association and has been featured in and/or written articles for national and international publications.  Currently, she is an Executive in Residence at the Technology Association of Oregon and writes a quarterly national column for the American City Business Journals.  For additional information, please visit her website. Steven Rolfe, M.D*   Dr. Rolfe, Founder and Managing Principal of Rolfe Advisory, has dedicated his career to understanding human behavior, motivation and conflict management. His expertise enables him to help clients reflect on their priorities and behaviors, leading to improved productivity and effectiveness. He has advised executives at all levels of organizations to develop the psychological acumen necessary to lead, strategize, and negotiate on behalf of their company successfully. To his clients, Dr. Rolfe is a trusted confidante, initiating practical conversations on the dynamics and challenges of leadership and other aspects of corporate life.  CONSULTING WORK  Dr. Rolfe has served as Principal of the Boswell Group LLC since 2004.  He advises CEO's, corporate directors and other senior business leaders on psychological and interpersonal aspects of management and leadership. He has worked with investment professionals; equity, derivative and bond traders; entrepreneurs; venture capitalists; corporate attorneys and leaders of nonprofit institutions. His clientele represents a wide range of fields, including finance, real estate, law, entertainment, medicine, engineering and pharmaceuticals. A current focus has been working in the health care sector – coaching physicians and executives in health care organizations, pharmaceutical companies and medical start-ups. Dr. Rolfe has been a Senior Associate with the Kets de Vries Institute (KDVI), an international management consultancy based in Paris, London, Asia and the Americas. In his work with KDVI and INSEAD, Dr. Rolfe has participated in coaching the Fellows of the World Economic Forum, and has served as a group executive coach for NGO's with INSEAD's Global Leadership Center (IGLC). Since 2011, he has served as an Executive Coach in the McNulty Leadership Program at Wharton at the University of Pennsylvania.  CORPORATE & HEALTHCARE EXPERIENCE  Prior to his consulting work, Dr. Rolfe's corporate administrative experience in the health care sector spanned 20 years. He has served as the Medical Director for a range of clinical services in for-profit and not-for-profit settings, including First Hospital Corporation (now ValueOptions, Inc.), Universal Health Services, the Psychoanalytic Center of Philadelphia's Adult Psychotherapy Program and Division of Consultation and Evaluation Services, the Preteen Program at the Horsham Clinic in Ambler, PA and the Children's Program at Friends Hospital in Philadelphia. In these capacities, Dr. Rolfe developed and directed psychiatric in-hospital and day-treatment facilities. He has lead and supervised multidisciplinary teams, often in the context of considerable downsizing of resources.  EDUCATION & FORMAL TRAINING  A Philadelphia-area native, Dr. Rolfe received his B.A. in Comparative Literature from the University of Pennsylvania and his M.D. from Tufts University School of Medicine. He completed Adult Psychiatry training at Tufts University Affiliated Hospitals, and a Child Psychiatry Fellowship at McLean Hospital in Belmont, Massachusetts. He was Clinical Instructor in Psychiatry at the Harvard Medical School. He completed psychoanalytic training at the Psychoanalytic Center of Philadelphia, where he is currently a faculty member. In 2009 he earned his Certificate in Family Business Advising from The Family Firm Institute, and has pursued his interest in developing and working with family councils and owners as they consider transition and succession planning.  MEMBERSHIPS  Dr. Rolfe is a member of the Psychoanalytic Center of Philadelphia and the American Psychoanalytic Association, where he serves as Co-Chair of the Comittee on Organizational and Corporate Consultation. He is  a member of the American Medical Association, XPX Exit Planning Exchange, Attorneys for Family-Held Enterprises, the Family Firm Institute, and is a former member of the Board of Trustees of the Rosenbach Museum and Library in Philadelphia.  ------ Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp.   Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies.   Family Wealth and Legacy LLC is not an affiliate of Lincoln Financial Advisors Corp.  *Not affiliated with Lincoln Financial Advisors Corp.    CRN-3672491-071421

We'll talk about:  Why many family businesses DON'T have a succession plan. The most important question every family business must answer. The most critical people to lead the succession planning process may not be who you think. A new idea for creating an enduring succession plan that most family businesses should utilize.  This week's guests: Alison Comstock Moss*   Alison Comstock Moss is CEO of Paul Comstock Partners*, a boutique Registered Investment Advisory (RIA) firm that serves individuals, families, and their charitable organizations to provide strategic planning and investment support to preserve family capital for current and future generations. Ms. Moss began working with families on succession strategies 15 years ago. Drawing on her personal experience as a second-generation member herself, she saw a need to advocate for better preparation for next gen family members and stronger communication to manage expectations for better outcomes. She advocates for the proper preparation of the next generation through customized programs like Beneficiary Boot Camp as well as Empowering Beneficiaries, LLC, a sister company to Comstock designed to provide extensive resources to engage and empower inheritors of wealth.  Rob Ferguson, President Ferguson Insights*  Rob is a business advisor for Family and Private Equity owned businesses that need practical solutions in the following areas; leadership development, succession planning, corporate governance, strategic implementation, revenue and profit growth.    He has ten years of CEO experience creating value with a public company and a fifth-generation family owned company. Rob has led companies through the phases of growth to turnarounds. During his career he has conducted more than $100 million of acquisitions and grown business from $30 million of revenue to more than $350 million. Rob successfully managed as the CEO the restructuring and sale of a $100 million revenue family business. Prior to his CEO experience Rob held executive positions in general management, sales, and operations over a fifteen-year period.  Since 2010 Rob has been helping small and middle market companies with some of their toughest business problems as a CEO advisor or Board member.  His current clients are in various industries; consumer products, energy services, distribution, manufacturing, agriculture. Rob currently sits on three family boards and is the lead independent board member for two companies.  Acting as an intermediary for capital, acquisitions and mergers is another service that Rob provides to both Private Equity and Family business. He has worked with Private Equity firms on targeting acquisition candidates and conducting operational due diligence. He has also helped smaller family business with their capital needs by connecting the appropriate financial resources to the family business.  Rob is a member of the National Association of Corporate Directors, the Turnaround Management Association and the Association for Corporate Growth. He serves as President of the Curing Children's Cancer Fund. He remains active with his alma mater, Texas A&M University in student recruiting and volunteering time at the Mays Business School Center of New Ventures and Entrepreneurship.    ---- Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy LLC is not an affiliate of Lincoln Financial Advisors Corp.     CRN-3482293-030821 *Not affiliated with Lincoln Financial Advisors Corp.     

Welcome to another episode of the podcast for the Chicago/Midwest Chapter of the Turnaround Management Association.   In this episode, we are bringing the audio from the December 1st webinar "Bankruptcy 201 Maximizing the Estate." Congratulations! Your client has filed a chapter 11 petition and landed softly into bankruptcy. That’s the easy part. So, what comes next? This panel of savvy bankruptcy practitioners will give a class in Bankruptcy 201, showing that successful engagements often turn on whether the professionals are able to (i) identify less obvious potential recovery sources, (ii) properly value various estate assets, and (if necessary) (iii) successfully pursue litigation aimed at generating stakeholder recoveries. Whether a new practitioner looking for the basics of the craft or a seasoned practitioner looking for some more tricks of the trade, this program will provide real, practical guidance on how best to “Maximize the Estate.” The panel was moderated by Nick Miller of McDonald Hopkins LLP. Our panelists include Adam Evans of Hilco, Renee McMahon of Charles River Associates and Micah Marcus of McDonald Hopkins LLP. Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Welcome to another episode of the podcast for the Chicago/Midwest Chapter of the Turnaround Management Association.   In this episode, we are bringing the audio from the November 5th webinar Insights into the Economic Impact of COVID-19. The webinar was conducted by the TMA Chicago/Midwest Chapter Milwaukee Committee. The economic impact of the COVID-19 pandemic has caused financial distress among many mid-size and small businesses. As the positive effects of government stimulus programs continue to fade, it will be necessary for many of these businesses to restructure their balance sheets. Join us for a discussion of the restructuring alternatives available to mid-size and small companies experiencing financial distress as a result of the COVID-19 pandemic. The panel was moderated by Michael Jankowski of Reinhart Boerner Van Deuren s.c.  Our panelists include: Robert MacDonald of Johnson Financial Group, Patrick Caracciolo of Wadsworth Whitestar Consultants, Iana Vladimirova of Husch Blackwell and Seth Dizard, O'Neil, Cannon, Hollman, Dejong & Laing S.C. Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Welcome to another episode of the podcast for the Chicago/Midwest Chapter of the Turnaround Management Association. In this episode, we are bringing the audio from the October 8th webinar, You Joined the TMA, Now What? Members of the TMA Chicago/Midwest organization discussed the different roles they hold and how they are can overlap at any point as a restructuring professional. These four members presented briefly about what they do, what a typical day involves and how the TMA has helped them in their roles.  Our moderator is Rory Dayton of Grant Thorton LLP.  Our panelists include: Kim Gordon of MonticelloAM, LLC, Clinton Miyazono of FocalPoint Partners, Jaron Hite of AEG Partners and Jack O’Connor of Sugar Felsenthal Grais & Helsinger LLP.   Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Welcome to another episode of the podcast for the Chicago/Midwest Chapter of the Turnaround Management Association. In this episode, we are bringing the audio from the August 19th webinar, Bankruptcy 101. Most prognosticators are predicting that there will be an increase in chapter 11 bankruptcies in the lower and middle market after the government stimulus programs come to an end. How does bankruptcy work? What happens if my counterparty files for bankruptcy? How do I mitigate counterparty risk? Do I get to keep control of my company if it files for chapter 11 bankruptcy? Please join our speakers  Harold Israel of Levenfeld Pearlstein and Chris Ciannella of Grant Thornton as they provide a high level summary of the Bankruptcy Code from a legal and financial perspective.  Whether you need a refresher or have no bankruptcy knowledge, tune in to learn the core concepts and impacts of bankruptcy. Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Welcome to another episode of the podcast for the Chicago/Midwest Chapter of the Turnaround Management Association. In this episode, we are bringing the audio from the September 9th webinar, Finding Value in the Middle Market. The coronavirus outbreak has impacted every facet of the economy, and middle market M&A activity, capital raising and credit availability are no exceptions. While uncertainty persists and some investors have been hurt by current conditions, others are uncovering opportunities, taking calculated risks and thriving. Our expert panel discussed investment strategies and approaches in a fast-changing, unpredictable world. The panel was moderated by Marie-Christine Tiseo of Lincoln International and featured panelists: Charlie Asfour of Aves Capital Management, Chris Brown of Allstate Investments, Jack Butler of Birch Lake Holdings, and Mark Sotir of Equity Group Investments. Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Turnaround Management Association member Brian Gleason (Phoenix) and economics professor Ananth Seshadri (University of Wisconsin-Madison) discuss the current economic forecast from a distinctly turnaround-minded point of view to reveal far-reaching impacts on our industry. To learn more about turnaround management, news and experts, visit turnaround.org. Episode Links Learn more about Ananth Seshadri at ssc.wisc.edu/~aseshadr. Learn more about Brian Gleason and Phoenix at Phoenixmanagement.com. Learn more about The Brattle Group at brattle.com. Learn more about Turnaround Time at turnaround.org/nyc/turnaround-time-podcast Our music is by Kit and the Calltones. Listen on Spotify.

TMA members Abel Osorio (Turnspire Capital Partners), Tim Lewis (Southfield Capital) and Mark D. Podgainy (Getzler Henrich & Associates) tackle the twists and turns of portfolio management as well as new platform and add-on perspectives during the most challenging business environment in modern times. To learn more about turnaround management, news and experts, visit turnaround.org. Episode Links Learn more about the Turnaround Management Association at turnaround.org Learn more about Getzler Henrich at getzlerhenrich.com. Learn more about Turnspire Capital Partners at turnspirecap.com. Learn more about Southfield Capital at southfieldcapital.com. Learn more about Turnaround Time at turnaround.org/nyc/turnaround-time-podcast Our music is by Kit and the Calltones. Listen on Spotify.

Welcome to another episode of the podcast for the Chicago-Midwest Chapter of the Turnaround Management Association!  In this episode, we’re bringing you the audio from our May 29 webinar co-hosted by our chapter with the Bankruptcy Court Liaison Committee for the United States Bankruptcy Court for the Northern District of Illinois. The webinar was conducted by Chief Judge Benjamin Goldgar and Clerk of Court Jeffrey Allsteadt. Judge Goldgar and Mr. Allsteadt reviewed the steps taken during the coronavirus pandemic to keep the court running, as well as additional steps that may be taken in the future.  Thanks for listening! Learn more about TMA Chicago/Midwest: Visit our Website, LinkedIn, Facebook, & Twitter pages

Support the Breakfast Leadership Network! Contribute on Patreon: https://www.patreon.com/bfastleadershipOr PayPal: https://www.paypal.me/bfastleadershipBreakfast Leadership Network Merchandise: https://teespring.com/stores/breakfast-leadership-network------ Author “Raise Capital Quickly”“You Can Build A $100 Million Company – With Lessons from 15 Founders of $100+ Million Companies”Board member Angel Pool OrganizationMr. De Temple is a seasoned senior executive, and Board Member with a track record of more than forty years of accomplishments in a number of industries both domestically and internationally. His passion is growing companies, whether it is a startup, a turnaround, a roll up, or taking it to the next level through organic growth and or acquisitions. He has successfully defined new markets, increased market share and developed new product lines. The goal of every company is to continually outperform the market while achieving  the highest possible bottom line results and Mr. De Temple knows how to build and lead the management team along with developing and implementing the processes and controls that deliver these desired results. His incentive plans for management and staff are designed to ensure both top line and bottom line growth while still exciting the customers.He has received numerous awards for tangible, intangible and consultative sales. “When I believe in a product or a concept, I can build the organization  which insure that customer needs are met, and result in the highest customer satisfaction, excellent referrals and repeat sales.”Mr. De Temple has also helped from the board level in private and public companies. His long standing as a member of the Forum for Corporate Directors and his firm belief in raising the governance bar has proven valuable for all the companies he has supported at the Board and Executive Level.Mr. De Temple is an active Board Member of the Leadership Business Council, and a number of operating companies. He is a past Board Member of Turnaround Management Association, the Association for Corporate Growth, the Tiger Bay Club, Kiwanis and has a strong personal network that spans the globe.https://www.wdetemple.com/https://antirion.com/about/

Neil and Dave join Kristin to discuss how mental health organizations can work on survival during the time of Covid-19. This is show is extremely informative for anyone suffering from financial distress - individuals and organizations. Neil Johnson has more than 19 years of healthcare investment banking and private equity experience including completion of over $1 billion of corporate finance transactions involving merger and acquisitions, equity and corporate debt financings as well as distressed asset acquisitions and divestitures.As Managing Partner of Lawrence, Evans & Co., LLC, Mr Johnson’s responsibilities primarily include deal sourcing and evaluation, transaction structuring, securing financing including debt and equity, and fundraising. Many of the completed transactions have involved acute care hospitals, senior housing, home health, behavioral health, revenue cycle management, health IT, big data, analytics or other services related companies.Prior to forming Lawrence, Evans & Co., LLC, Mr. Johnson worked at one of the largest asset based healthcare lenders in the country and spent time with a national healthcare investment bank as an underwriter. Mr Johnson’s relevant experiences include time as a healthcare bond trader managing over $100 million in assets at a regional based investment advisor. Neil spent time in Germany with an internet start-up and was involved with a successful sale of an internet consumer marketing company. Additionally, he spent time early on in his career with the bank First Chicago NBD that is now part of JPMorganChase.Neil is a board member and executive of several other companies including 1212 Capital LLC and NS Fund I LLC. He is a member of the Association of Corporate Growth, Healthcare Business Management Association, Healthcare Financial Management Association, Turnaround Management Association, and the First Connect Bio Medical Steering Committee as well as an education contributor to the Harvard Business School.He has a Bachelor of Arts degree in Economics and Management from Albion College. Mr. Johnson received his Masters of Business Administration degree from Ohio State University Max M. Fisher College of Business. He is also a 1994 NCAA National Football Champion, Albion College Hall of Fame Individually and as a 4 time Team Member and NCAA Post Graduate Scholarship Recipient (w/ Peyton Manning and Brian Griese).David Opalek has nearly 20 years of real estate finance experience with an extensive background in the affordable sector. Prior to joining Lawrence, Evans & Co., LLC, he worked at Love Funding in 2014, and he spent 10 years originating loans and managing relationships in the Mortgage Banking services division at Red Capital Group where he closed over $2 billion in FHA and agency financing transactions. Prior to his tenure at Red Capital Group, Mr. Opalek worked for Banc One in their Corporate Trust Department where he focused on multifamily housing bonds.In addition to his extensive mortgage banking experience, Mr. Opalek has been instrumental in developing new financing structures for the capital markets. Some of his notable accomplishments include the first cash collateralized multifamily housing bonds that fundamentally changed the way that FHA 4% LIHTC are funded and the first Build America Bond collateralized with and FHA loan in the wake of the housing crisis which saved the borrower 30% on their borrowing cost.Mr. Opalek received his BA from Alma College and his Juris Doctor from Wayne State University Law School. Additionally, he received his MBA from the Fisher College of Business at The Ohio State University.www.lawrenceevans.com

Rachel Hersh is the Sales Director, North America for Prestige Capital. She has over 20 years of experience as a financial executive in the areas of commercial finance, factoring, and business development. Rachel has a successful track record of working with hundreds of companies, from start-ups to high-growth companies to turnarounds, to increase their working capital and growth capital as well as provide debtor-in-possession financing needs. She helps clients to understand available financing options and how to best leverage their assets to gain liquidity for their businesses. She is an active member of the Commercial Finance Association, International Factoring Association, and Turnaround Management Association. Rachel was selected as a Woman in Commercial Finance for The Secured Lender, Women in Commercial Finance issue by the Commercial Finance Association, and recognized as a Top Woman in Business on Long Island by Long Island Press. Don’t miss other episodes talking about the different types of alternative financing with Jill Earthy, Principal of Risery and interim CEO of Women’s Enterprise Centre of BC, and Christine Chang, CEO of 6th Avenue Capital. I would love to hear from you and let me know any business financial questions you need help with. Record your question here or email me at christina@christinasjahli.com and I will answer your question in a bonus episode. When you are ready to master the skill of storytelling using your financing numbers, let’s schedule a chat. In this episode, Rachel shared:➤ Rachel’s journey into the invoice factoring world (5:29)➤ How invoice factoring works (7:04)➤ The benefits of invoice factoring for small businesses (9:09)➤ Why invoice factoring isn’t widely used by small businesses (16:00)➤ When invoice factoring is right for a business (22:27)➤ The simple underwriting and onboarding process with Prestige Capital (28:44)➤ The key terms on an invoice factoring contract with Prestige Capital (31:55)➤ The cost of borrowing for invoice factoring vs. traditional loan (33:40)➤ How to utilize invoice factoring strategically (34:46) ➤ The different type of businesses who can take advantage of invoice factoring (39:10)➤ Stay with your mission. Work with trustworthy partners (40:57)Connect with Rachel and Prestige Capital:➤ Website➤ Linkedin - Rachel Hersh➤ Linkedin - Prestige Capital➤ Facebook

Gordon Brothers experts Alex Sutton and Ulos Anderson discuss the ramifications of COVID-19 on supply and demand across industries and asset types. From the hardest-hit markets to supply chain logistics, and what to expect after quarantines are lifted, Sutton and Anderson discuss current trends and their implications going forward. Episode Links Learn more about the Turnaround Management Association at www.turnaround.org Learn more about Gordon Brothers at www.GordonBrothers.com. Learn more about Turnaround Time at www.turnaround.org/nyc/turnaround-time-podcast Our music is by Kit and the Calltones. Listen on Spotify.

Jeff grew up in working in his family's manufacturing business and returned as an adult to help grow, fix, grow again, fix again and eventually exit that business.Since then he has specialized in corporate turnarounds; fighting to save businesses, jobs, fortunes and the communities they support.   3-times Jeff has been awarded of one of the Turnaround Management Association's prestigious Turnaround of the Year Awards for each of the following businesses; Vermont Aerospace (2017), Canadian Kraft Paper (2018) and Union Metal Industries (2019). Since 2002, he has transformed dozens of businesses in dozens of industries with a reputation for taking on the most dire situations.   In addition to corporate turnarounds, Jeff is known widely for his ability to attain top dollar in the sale of distressed businesses, maximizing going concern value while saving jobs, revitalizing the local economy and providing a dignified exit to the debtors. Jeff recently authored Corporate Turnaround Artistry, Fix Any Business in 100 Days which will be published by J. Wiley & Sons in 2020. Jeff married his college sweetheart and they enjoy their free time skiing, biking and shuttling their 3 children around to sporting events.   For more information, here are a few links: http://dorsetpartners.com/we-wrote-the-book/  www.DorsetPartners.com                www.AIAC.com Corporate Turnaround Artistry Book   0000011E 0000011E 00003B2B 00003B2B 0002A524 0002A524 00007ED6 00007ED6 000281D6 000281D6

This episode features Scott Stewart, CEO of the Turnaround Management Association. Scott talks about his priorities as a CEO, having unique perspectives, and how teamwork can improve an organization’s impact.

This episode features Scott Stewart, CEO of the Turnaround Management Association. Scott talks about his priorities as a CEO, having unique perspectives, and how teamwork can improve an organization’s impact.

If you are facing a turnaround or restructuring, you need to actively manage your banking relationship and do everything possible to gain the support of this critical stakeholder. From the bank’s perspective, the lending relationship starts with sales and marketing and, after the loan is made, moves to maintenance and observation. If covenants are violated, an early warning system for financial trouble, and not remedied, your loan may be moved to a special accounts group for administration and collection. While every file is different, the approach of the special accounts group will vary from institution to institution. Some banks may be aggressive and seek to immediately collect as much as possible. Others may be open to support a turnaround or restructuring plan to enhance the bank’s possible recoveries in the future, with the added benefit of saving your business and jobs.In every troubled situation, the borrower requires an accommodation from the lender. But the lender is focused on their recovery (collection), which may have nothing to do with extending an accommodation to the borrower. The bottom line is that, for the bank, it always boils down to deciding whether to support the borrower and its turnaround plan, or not.Therefore, it is up to you to provide as much ammunition to the special accounts managers as possible to give them a reason to support you.Here are some tips:- Admit you’re in trouble: If possible, approach the lender proactively before they conclude on their own that there is a covenant violation. Come prepared with a plan to fix the problem and be forthcoming and honest with inevitable negatives throughout the process.- Have a plan: Build a turnaround plan that is optimistic enough for the bank to support but also realistic. The plan must include a limited number of key performance metrics (not revenue) that drive your business and that can be used to quickly monitor your performance.- Stop the bleeding: Stop losing cash. Now. Right now. Do everything possible to scale back and not make the bank’s secured recovery position worse than it already is. - Get a turnaround team: Your current management team is probably not suited for the battle. You need experienced turnaround professionals, like a CRO, and legal counsel experienced at dealing with special accounts groups and insolvency matters. - Watch your attitude: Know your situation and the personalities involved. Bankers are human beings with egos like all of us and they have gone through this process many, many times. You haven’t. - Be committed: Cancel vacations. Cancel golf and boondoggles. Deliver on plans, on time. Prove that you are taking this seriously. For more tips and discussions, check out Episode 15 of Martinis With Scott with David Cohen, national leader of Gowling WLG’s Financial Institutions & Services Group in Canada and past global chair (2017) and past global president (2016) of the Turnaround Management Association.Learn more at www.sinclairrange.comFollow on Twitter @MartinisWScottFollow on LinkedIn https://www.linkedin.com/in/scott-sinclair-7b09681b/

This is the first in a series of podcasts where we'll be talking about the Turnaround Management Association and topics related to its members and leadership. In this episode TMA Global CEO Scott Y. Stuart, Esq. and TMA Global President, Kevin A. Krakora, CTP talk about his year as president and the vision they have for TMA.

In this episode I am excited to have Robyn Pollack on to talk about the implementation and practice of diversity and inclusion, and treating it not as something we have to correct or fix, but rather who we are and our daily mission. Robyn Pollack is CEO and Founder of Trellis Consulting LLC. A business strategist with an expertise in diversity and inclusion, Robyn increases financial return by teaching organizations to leverage their D&I initiatives more effectively. She was a restructuring lawyer for 20 years and addresses D&I issues through a distinct, business-oriented, strategic lens. She is also an adjunct professor at Temple University's Beasley School of Law, where she earned her J.D. Topics Covered Her background in law, why she left, and what her company does in terms of diversity and inclusion for law firms and other business. We also talk about women and risk-taking in law. Turning a passion into a profession - how she had been involved in D&I issues throughout her career, and it only made sense when she decided to focus on it full-time. D&I in the law - what has to change and how to get there. She talks about how her law school classes are very diverse, but how does that translate into practice. The importance of building cultures of trust, value, and respect - having authentic, transparent cultures. Learn more about Robyn at: Trellis Consulting LLC Twitter     Questions? Comments? Email Jeena! hello@jeenacho.com. You can also connect with Jeena on Twitter: @Jeena_Cho For more information, visit: jeenacho.com Order The Anxious Lawyer book — Available in hardcover, Kindle and Audible   Are you going through a personal or professional transition? Considering a career change but aren't sure where or how to start? If you've been neglecting that inner voice nudging you to look at your life, to try something different, but aren't sure where or how to start, join Jeena Cho and Laura Mahr for a 1-hour free webinar. August 22, 2018 9:30 AM – 10:30 AM PT 11:30 AM – 12:30 PM CT 12:30 PM – 1:30 PM ET Register here: https://jeenacho.com/navigating/ Find Your Ease: Retreat for Lawyers I'm creating a retreat that will provide a perfect gift of relaxation and rejuvenation with an intimate group of lawyers. Interested? Please complete this form: https://jeena3.typeform.com/to/VXfIXq MINDFUL PAUSE: Bite-Sized Practices for Cultivating More Joy and Focus 31-day program. Spend just 6 minutes every day to practice mindfulness and meditation. Decrease stress/anxiety, increase focus and concentration. Interested? http://jeenacho.com/mindful-pause/ Transcript   Robyn Pollack: [00:00:05] Risk-taking is about taking courageous, brave chances that are calculated and not reckless, and figuring out how to make it happen. Intro: [00:00:18] Welcome to The Resilient Lawyer podcast. In this podcast, we have meaningful, in-depth conversations with lawyers, entrepreneurs, and change agents. We offer tools and strategies for creating a more joyful and satisfying life. And now your host, Jeena Cho. Jeena Cho: [00:00:41] Hello my friends, thanks for being with me today. In this episode, I'm happy to have Robyn Pollack. She is the CEO and Founder of Trellis Consulting. She is a business strategist with an expertise in diversity and inclusion. Robyn increases financial return by teaching organizations to leverage their D&I initiatives more effectively. She was a restructuring lawyer for 20 years and addresses diversity and inclusion issues through a distinct, business-oriented, strategic lens. She is also an adjunct professor at Temple University's Beasley School of Law, where she earned her J.D. [00:01:15] Before we get into the interview, I want to tell you about my new course, Mindful Pause. So often I hear from lawyers that they know they should be practicing mindfulness and meditation, but they just don't have the time. And I always tell lawyers, just start with six minutes or .1 hour. Of all the hours you dedicate to your clients, work, and others, don't you deserve to have a little bit of time carved out for yourself? Mindful Pause is designed for lawyers like you, to fit into your hectic schedule. Try practicing mindfulness six minutes a day for 31 days and see for yourself the difference it can make in your life. Think of it like taking your daily vitamin to boost your well-being. Head on over to JeenaCho.com to learn more, or check it out in the show notes. And with that here's Robyn. Robyn, welcome to the show. Robyn Pollack: [00:02:02] Hi Jeena, I am so excited to be here! Really honored to be taking part in this podcast with you, so thank you again for having me. Jeena Cho: [00:02:10] Give us a 30-second introduction of who you are and what you do. Robyn Pollack: [00:02:14] So as you alluded to in the introduction, I am a business strategist with a focus in diversity and inclusion. So really what we do is we go into organizations, we do assessments and audits, we look under the hood to see what kinds of issues they're having or they may have, and then we take that data and we create customized, strategic business plans to solve their diversity and inclusion issues, and then we help them implement them. So really a big issue right now, I was a restructuring lawyer for 20 years as you said. So looking at diversity through a business lens, taking all of my experience and advising companies on financial and operational and legal and strategic issues, and utilizing that in the diversity space. So it's been a nice marriage of two areas of expertise for me. Jeena Cho: [00:03:13] So how did you go from being a practicing lawyer to saying, I'm going to open up my own consulting company? Robyn Pollack: [00:03:20] It's not as crazy.. well the jumping might be a little bit more risk-taking, but the journey itself isn't as crazy as it sounds. I was really involved in issues of gender diversity throughout my whole career, and I was very involved in a professional organization for restructuring professionals called the Turnaround Management Association. And as a young lawyer, I was asked to join the TMA; many people in my department were involved and said you've got to join, so I did. And my very first event was at the Union League in Philadelphia. I don't know if you've ever been there, but it's very masculine, very male-dominated. In fact, for the bulk of it's history women weren't allowed in, so you can imagine what that looks like. They have huge portraits of men along the walls; huge, huge portraits, and their eyes sort of follow you as you walk down the hall. And I walked into this breakfast event and it was like the men in the portraits had jumped off the walls and were standing there in their dark suits, eating breakfast. So I felt very uncomfortable, very out of place, there was no one that looked like me. And after a couple of these experiences, I went to the president of our chapter and I said, "Do we have a women's networking group?" And he said no, I asked if I could start one, and he said yes. So I did. Fast forward all of these years later, this international professional organization now has a women's group in almost every chapter that it has. I also ran the Women's Leadership and Development Initiative at the global level for several years while I was still practicing, and it was through that that I really learned that women need the substantive tools to succeed in the workforce and that we really need to change the workplace so that they can succeed and that everybody can succeed. So I really had a passion and an interest in all things diversity and inclusion throughout my career, and was at a crossroads at the law firm: did I want to sit here for another 20 years, or did I want to do something else? And I decided to take that leap and start my own company. Jeena Cho: [00:05:41] What was the most challenging part of leaving law and starting your own consulting company? Robyn Pollack: [00:05:48] I think the collaboration aspect of it is something that I certainly miss. I worked in a very collaborative department, we were always running in and out of each other's offices and bouncing ideas off of each other. So when you leave a situation like that and you go out on your own (and I am you know a solopreneur) you miss that camaraderie and collaboration. And there are certainly times where I miss practicing, but I do integrate. I write my own contracts and I negotiate my own deals within my business, so I do get to utilize my legal skills. Jeena Cho: [00:06:34] I know you mentioned this already, that idea of risk-taking. What does that mean to you, and why is that so important for women in particular? Robyn Pollack: [00:06:44] You know it's interesting, being a woman and a lawyer I think it's a double-whammy. I think women are traditionally less risk-taking than men. And maybe it's more that we're more cautious; not that we don't take risks, but that we think them through and we don't act rashly. So I think it maybe gives the perception that we are not risk takers because we take our time when taking a risk. And then, of course, being a lawyer we are quintessentially not risk takers at all. So you sort of put those two elements together, and it's amazing anybody ever leaves. But I think that taking small steps and building on your successes.. and of course, I didn't just up and leave; I actually started my company while I was still at the law firm. I was trying to sort of ride that line and see if it was able to get any traction before taking that big leap, so I think that's one way to bridge the gap. But it takes a lot of bravery to take a risk, and I think that that's something that we all need to think about in our careers. Not that you have to do something as drastic as leaving, but what are the little risks that you can take every day in the law? How do you ask for stretch assignments, how do you position yourself for the next level, how do you make the ask? Those are things that women in law (particularly) need to think about as they move through their careers; if you don't ever take a risk, you're standing still. Jeena Cho: [00:08:26] Yeah, so true. And also, as lawyers, we're so risk-avoidant. So how do you get better at risk-taking, and do it in a way that isn't just reckless? Robyn Pollack: [00:08:41] That's a good question, and I think taking those small steps and testing the waters is one way to do it; you see that you can have success. It's really about building confidence, and also about having a plan. We talk about strategic plans with diversity, you really need a plan if you're going to take a risk. I mean, I didn't just wake up one day and say, hey I'm leaving my 20-year career to start this company. It was very well thought out, it was very methodical. I positioned myself in a way that I thought was the best way to position myself to make that transition. I also think starting it while I was still at the firm was part of that. Again, I wanted to see that there was some potential there before I made that leap. So I think having a plan, being agile, being able to shift the plan if things come along, all of that goes into good risk-taking. Jeena Cho: [00:09:50] So what did that planning process involve? So you're working at a firm, how did you even go about testing the water for your business idea? Robyn Pollack: [00:10:01] Well I started approaching people that I knew; I'd been doing a lot of speaking and programming through my work with the TMA. So that was a way to test the response I was getting, were people interested in this, was I providing value, was this going to be helpful? So that was one way that I was able to test the waters and see that there was a need for what I was doing. And then the planning process of thinking through how I was going to make that change; how was I actually going to implement that exit, how was that going to work? That was staying at the firm for a period of time, negotiating a period of transition where I was still there but I wasn't there as much. It was sort of a slow slide to make that change. Again, I didn't just wake up with no planning and say, I'm doing this. And of course, it involves talking to your family and other people that a change like this is going to impact. My son was about to start college, so it's like what kind of crazy person leaves their secure, big law job to start a company when their child's going to college? It sounded crazy to me as a person, as a lawyer, as all of the things that make me risk-averse. But I did it, I did it. I think risk-taking is about taking courageous, brave chances that are calculated and not reckless, and figuring out how to make it happen. Again if you never take that risk, if I never did that, I would have lost something; I would have been standing still. So it's worth it, I think sometimes no risk, no reward. Sometimes you've got to do that to move forward in your life. Jeena Cho: [00:11:58] Yeah. When you think about leaving law and doing something completely different, it can be really overwhelming to go from something that you know how to do really well into potentially an area that you're not as familiar with. Were there resources, whether people you worked with, coaches, or other people that you found to be helpful in helping you transition from being a lawyer to being a consultant? Robyn Pollack: [00:12:27] Yeah, I certainly have had people along the way. And I think what's interesting about the question you just asked is that you need people at different points for different things, and I think I've had those people. I have somebody that has advised me on marketing and social media. Again, not something that lawyers really focus on as much as they probably should, especially in a big law firm where they have their own marketing department. So I was always good at networking, but I had somebody actually help me with sales. How do you actually take somebody through a sales process, how do you close a sale? Very, very different than getting a client in a law firm. So I think those people have been helpful to me. I do have a business mentor; somebody who's very successful, has a great leadership development company, a New York Times bestseller, she's a rock star and has been a great champion and a real resource to me. So yes, I definitely need those people along the way. And again like any mentor, you have several of them and you have different mentors for different purposes along that trajectory, as you learn and as you move forward. Jeena Cho: [00:13:56] So switching gears just a little bit and moving into talking about diversity and inclusion, I remember when I graduated from law school in 2003 (it was a little while ago) we actually had slightly more women than men in our graduating class, we had a fair amount of people of color in our class too. And it just seems like this promise of having a more equal and inclusive legal profession has been talked about, yet when we look at the numbers they just aren't translating. And I don't know how you feel about it, but sometimes it feels tiring to even talk about D&I. And it always feels like it gets talked about in a vacuum. Like there's the firm and what the firm does, and then there's this little piece that's D&I, and we make sure that the D&I people do what they do so it looks good on some article or on some journal somewhere. Robyn Pollack: [00:15:08] I totally hear you, and it's interesting because I teach at a law school and my classes are very diverse. And it's surprising to me how that doesn't get reflected in law firms, I don't know where people are necessarily going. Particularly people of color. I remember at my firm, we didn't have many people of color. Certainly, at the younger associate levels, there are more women than as you move up through the pipeline. But yeah, it surprises me when I walk into my class every year how diverse it is, and I'm wondering what is going on when it gets to the law firm level. Jeena Cho: [00:15:55] So what is going on? Robyn Pollack: [00:15:57] I think there's a couple of things. One thing is that activities do not equal strategy, and I think that is a point that is lost in law firms, and quite frankly in other companies and organizations. People think that they can run around and do a lot of stuff and that they're going to see results, and that's simply not true. That is not the way to do it. The only way diversity and inclusion works is to take that strategic approach like you would when you're rolling out a technology initiative or a marketing initiative or a safety initiative. You've really got to look at, what are the issues you're trying to solve, and how do we put together an actual, implementable, measurable, data-driven plan to solve those issues? [00:17:05] A lot of times firms are just throwing stuff against the wall and they don't know why they're doing it; there is no measurable results, it's not tied to the overarching goals or objectives of the firm. All of the things that firms are doing for diversity should be tied to attraction, retention, evaluation, promotion, compensation, and leveling that playing field for everybody. I also think part of that is a circular issue, in that women, attorneys of color and other diverse attorneys don't see enough role models in leadership. Because they're not strategically helping people get up the pipeline, there's nobody there for people to look at. And I think particularly for younger lawyers, especially women looking at the women that have "made it," they look at those women and think, I don't want to do it this way. If this is what I have to do to get there, then this isn't for me. I see that a lot, when firms put their top women equity partners on a panel and they talk about how they got there, I've seen younger associates sitting in the audience saying, "Oh my god is this my future?! This is not how I want to do it." And that creates issues too. So I think the law firm model has to change, I think law firms need to really embrace the importance of diversity and inclusion, and really appreciate what diversity does for them. It's not just a "check the box," it creates innovation, better problem-solving, better teams. I mean this is what lawyers do, right? We solve problems. If you have diversity of thought and experience and perspective on those legal teams, you are going to be creating much better results for your clients. Jeena Cho: [00:19:07] And also, I think it's particularly hard in the legal industry because we don't like change and we like to go by precedent. So even things like the number of hours you're expected to be physically in the office versus being able to work remotely, I think the old guard is like no, I made partner doing it this way, and everybody else should do it this way too. Which just doesn't work for the non-white male lawyer, who lives in a traditional household where the wife either stays at home or works at a part-time job and she takes care of all the child-rearing responsibility, so on and so forth. And also as you mentioned, some people are like no, I don't want that model, that's not for me. And if you have enough younger attorneys rejecting the old model, then, of course, you're going to have the diversity issues. So how should the law firms be thinking about these issues? In terms of not only attracting new talent but also changing the structure of the firm so that it's more friendly towards women and people of color? Robyn Pollack: [00:20:22] Yeah. And just before I answer your question, I think that generational issue that you're talking about is really important, because I think there are a lot of younger, millennial, white male lawyers who don't want that life or those hours either. Irrespective of what their family situation or other situation is. When you're talking about work-life integration, there's so many components; people want to have lives, people want to go to yoga, people want to volunteer on political committees. People want to do all kinds of things to round out their lives, so I think the normalization of this work-life integration concept needs to cross gender lines and needs to be throughout firms. And also, that starts to take the stigma away from it looking like a "mommy track", or a traditional woman's role that she wants to work part-time or needs to be home by 5:00, or whatever it is. [00:21:25] To answer your question, the business world itself is changing. When people are retiring, it's Baby Boomers that are retiring. It's not millennials or Gen Z that are coming up, it's the older people. And so the newer, younger people that are coming into law firms are looking for something very different than what exists. And as you said, change is hard; change is hard for organizations, and really hard for firms because we are so risk-averse. We are trained to avoid risk and prevent risk, so that's where our mentality is. But I think the sooner that firms recognize that in order to be sustainable and to remain competitive, they've got to adopt a new mindset and shift the culture to be more amenable to what people coming into the workplace are looking for. I also think there needs to be an investment in lawyers throughout the lifecycle process. So mentor and sponsor programs, sponsorships particularly for women are incredibly important. But they need to be more formalized; there's a lot of mentor programs where the mentor and the mentee meet, they go to lunch, the mentor says how's it going, the mentee says okay great, and then they talk about something else. We need to have something a little bit more formalized; what are the obligations, what are the responsibilities? We need to be tracking people and looking at people at different stages through the employee lifecycle. Another thing that's really pertinent for firms is to look at their interview processes, to look at their evaluation processes, to look at their promotion and compensation processes. How do you strip bias from those processes? Because that's something that is especially important, even for law firms, because traditionally (with the law firm model) you are evaluated on your billable hours and your business development. Well, there is bias-inherent in that. So how do you look at other measures of value? How do you look at what somebody else is doing? How are you rewarding somebody for supporting a diverse lawyer? How do you integrate that into your employee lifecycle processes? I think that that's something that law firms need to look at and examine as part of the shift. Jeena Cho: [00:24:05] I think that kind of brings me to my last topic, which is building a different culture; building a culture where everyone can feel like they could be their true, authentic selves. Where they can bring their whole selves into the office. And I think that's just harder when you're working in a place where you're the only one (or perhaps a handful of people) that looks like you or share similar backgrounds and life experiences. So thoughts about building a more inclusive, or shifting the firm culture? Robyn Pollack: [00:24:37] Yeah, I think all of these things move in that direction. And I tell people that we work with that change takes time. It's like turning the Titanic around, again, law firms are at the top of that list for having trouble with change. I think shifting culture is primarily a top-down initiative, and then a bottom-up secondarily to that. So I think that if there is a visible commitment from firm leadership. And again it's not that check the box let's just throw it up against the wall. It is a rollout of a strategic plan and a strategic initiative. Look we've done this assessment, we've talked to you, we've interviewed you, we brought in a third party to figure out what's going on. And here's what we've identified, here are the priorities that we set, and here's what we're going to do about it over the next one year, three years, five years. And here's how we are going to accomplish a shift in making everybody here feel valued and trusted and respected and part of it. And everybody's part of the process, but I think that top-down, real willful commitment is where it needs to start. Because that's where culture is really set, from the top. [00:26:02] And then there are ways to really roll out organizational management and organizational change; how do you implement a change in an organization, and some of those methodologies need to be used in law firms. With the reminders about what we're doing and the constant weaving of diversity and inclusion and the kind of workplace we want throughout everything that we're doing so that it's not a second thought or it's not something we're trying to correct for or fix, it becomes who we are. Jeena Cho: [00:26:36] Right, it has to be more than the thing.. it often just feels like with a lot of law firms, you have a diversity and inclusion specialist or person in charge of managing it, and it almost feels like they say, "Well, we hired that person over there. She is supposed to fix all of our diversity and inclusion issues." It's like no, that's not exactly how it works. I've also been on planning committees and different things where they wanted me to be on the planning committee because I'm going to go and find some stickers that are non-white. And it's like no, sorry. Robyn Pollack: [00:27:22] Well it's true, and you can't just do one-off training. A lot of firms and companies think, well we brought this speaker in and she talked about unconscious bias, and okay we're good now; we've got unconscious bias covered. And that's simply not true; that's not how people learn. People learn over time, people learn experientially, people learn by doing. And you can't just have a one-off thing and expect everything to be fixed, and I think that's another shortfall in the diversity space. People think, oh yeah we had a program on that. Well, one program isn't enough. [00:28:06] I think that with some of the backlash you heard with Starbucks; they had this one program, but what does that do? Where do you go from there? So, you need something that's integrative, you need something that's consistent, you need something that is thoughtful and over time, in order to be effective. And we're not going to see those numbers change, going back to when you graduated law school so many years ago and it seemed like it should be fixed by now, and it isn't. It's because people aren't looking at it like a business imperative that needs a plan and a strategy, they're looking at it as, "Oh yeah, that person over there, she takes care of our diversity." But what does that mean? And nobody really knows. Jeena Cho: [00:28:50] Right. And also I think oftentimes for the white male managing partner, this is not a conversation that's easy for him to get involved in. I think there is some level of discomfort, or if he's sitting around the room and saying, "Well we have a diversity and inclusion issue," I think there may be raised eyebrows like, well what do you care? You're not part of that group. So thoughts about how people, let's say the white male lawyer that actually does have the power to change some of these issues, how they can be better allies? How can they get more involved in making these shifts? Robyn Pollack: [00:29:36] Yeah, I think they have to use that power; I think that's the first thing. I think one of the hurdles that we need to overcome is that stereotypical white, male, middle-aged managing partner who knows he needs to have a diversity initiative so that he can go on to on-campus recruiting and answer that question. But you've got to actually understand that while the status quo might be great for you, it's really not good for the long-term sustainability and health of that law firm. I think people in those positions of power need to think about what do you want your legacy to be? In terms of how do you want to impact the firm going forward because you've got the ability to do that. I also think that access to those leaders, we talked about sponsorship a little while ago, but having diverse attorneys to have access to more powerful male leaders in a firm, is huge. Those are the people that should be serving as mentors and sponsors to people because they are the ones that still have the power. So I think that's a great way for them to be allies; to actually take a couple of people under their wing and mentor and sponsor them. It makes a difference. When I look at many of the women that are successful lawyers, all of them will tell you that they had a man who helped them; a man who touted them in meetings when they weren't there, who made sure that they had exposure to clients, who made sure they had stretch assignments. So I think that's a really important way that quintessential white male partner to be an ally and to be able to help. And to understand. When we talk about unconscious bias and the things that hold diverse attorneys back, we really need to implement a "stop, drop, and roll" mechanism; we need to think about what it is that you are about to do or say. How is that going to be perceived by the person you're interacting with, and do you need to revise that? And revise what you are thinking, and say it or do it in a different way? You really have to think until it becomes more natural. So another to be a good ally. Jeena Cho: [00:32:17] I think that's a great place to wrap things up. Robyn, for the folks that are interested in learning more about your work, where is the best place for them to do that? Robyn Pollack: [00:32:28] You can certainly go to our website, which is www.trellisconsultingllc.com. So check us out, there's a place if you want further information to e-mail, and we're happy to talk. We're really looking to help firms and companies in this endeavor, that is our goal. We talk about being uncomfortable and having these difficult conversations, that's 100% true but that's how you make progress. And we're here to help facilitate those conversations and make the process of turning the Titanic around easier for people. We're very much about that culture shift, and truly believe that this is the future of firms and organizations, and really want to help push that forward. Jeena Cho: [00:33:23] Robyn, thank you so much for being with me today, I really appreciate it. Robyn Pollack: [00:33:27] Thank you so much for having me Jeena, it was a lot of fun. Closing: [00:33:34] Thanks for joining us on The Resilient Lawyer podcast. If you've enjoyed the show, please tell a friend. It's really the best way to grow the show. To leave us a review on iTunes, search for The Resilient Lawyer and give us your honest feedback. It goes a long way to help with our visibility when you do that, so we really appreciate it. As always, we'd love to hear from you. E-mail us at smile@theanxiouslawyer.com. Thanks, and look forward to seeing you next week.

We've talked a lot on this podcast about the state of turnarounds in the U.S. right now with our coverage of the Turnaround Management Association and their conferences.  We've said it before - an economic downturn is expected in the next 18-24 months.  In this episode of Directionally Correct, we get perspective from someone in the turnaround business.  Greg Saltsman talks with Josh Eppich, partner at the law firm of Bonds Ellis in Fort Worth, Texas. 

Last week the Turnaround Management Association had their Southwest Conference in San Antonio and Southern Oak Consulting was there.  Greg Saltsman shares the latest insights about what's being discussed at the TMA event.

The Turnaround Management Association held their Las Vegas conference on Distressed Investing and Southern Oak Consulting was there.  Greg Saltsman shares with us what he's discovered at the event, what insiders are saying about deal flow and market volatility, the implications of tax reform that might surprise you and what to expect in 2019 (yes, 2019).

This week the Turnaround Management Association is holding its annual conference in our home market of Dallas/Fort Worth.  We thought it would be timely to take a look at some tactical examples that have proved successful in turnaround situations and a few that were less than successful. 

In this week's CRE Elite, I introduce our first Featured Episode. These are reserved for value-add interviews that don't fit the mold of my typical show format. Throughout this process I've been exposed to amazing resources and talent. And, because I make the rules around here, I want to be able to share as much content as possible with you, my listeners. So in this interview, I get a chance to talk to Mike Carey, Vice-President of Tranzon Auction Properties out of Portland, Maine and we feature auctions. As you know by now, I'm a strong proponent of auctions for the right property and situation. In fact, you may recognize Mike as the contact for my show sponsor. The more Mike and I discussed CRE Elite and what it's mission is, I realized that he would be an ideal interview candidate. With direct auction experience spanning over ten years Mike has participated in over $100M in transactions including sales all over the country: A 1997 graduate of Wheaton College in Norton, MA, he lives in Portland, ME and is a past chair and current board member of the Portland Chapter of the Turnaround Management Association.

Join Jason Hartman and coauthor of Aftershock, Robert Wiedemer as they discuss the fundamental underlying problems of printing money, the inevitable results, and how investors can still profit as the world heads toward yet another global economic crisis.  Robert talks about the effects of the government bubble and the dollar bubble, when we can expect these to pop once again, and how these events will affect our government and the world.  To learn more, visit: http://jasonhartman.com/radioshows/. Mr. Wiedemer is a Managing Director at Absolute Investment Management and co-wrote the landmark book that predicted the current downturn in the economy in 2006, America's Bubble Economy, published by John Wiley.  As Paul Farrell, Senior Investment Columnist at Dow Jones MarketWatch recently said, “In short, America's Bubble Economy's prediction, though ignored, was accurate.”  Kiplinger's chose it as one of the best business books of 2006. His following book, Aftershock, was published by John Wiley in November 2009.  It was chosen by Smart Money magazine as one of the five best investment books of 2009.  Aftershock and America's Bubble Economy have been the subject of articles in the major press including the Wall Street Journal, Financial Times, The Hedge Fund Journal, Euromoney, Barrons, Reuters, AP, Bottom Line and others. Aftershock is in its 16th printing and has sold over 250,000 copies. He speaks to groups of investors, financial analysts and economists including the New York Hedge Fund Roundtable, Association for Corporate Growth, The Turnaround Management Association, the World Bank, the CFA Societies of Chicago and San Francisco, and the National Press Club.  He is a frequent commentator on TV including CNBC's Squawk Box and Fox Business News.