Change is in the air! You may have noticed that we’ve shuffled the ABF Journal themes this year
to make them more relevant to our readers. We hope you’ve noticed the changes and like what
you read. Share your opinions of the magazine with me via email at firstname.lastname@example.org.
We renamed our annual conference the Philadelphia Credit and Restructuring Summit and moved
it to the Union League of Philadelphia this year. We also added a panel of high-ranking women
executives to share their perspectives. We’ve received strong positive feedback, so if you missed
this year’s summit, make sure we’re on next year’s calendar. We have photos and a recap of the
panels in this issue.
We also moved our Turnaround Management theme from Sep/Oct to position it closer to the TMA
awards. AEG Partners was the winner of TMA Chicago/Midwest Chapter’s 2016 Turnaround of
the Year award for its work restructuring Compressor Engineering. AEG was brought in to help
the company determine why profits were slipping. AEG’s investigation revealed hidden problems in the accounting reporting system that could have led to the company’s demise. Instead, a
successful turnaround not only saved the company but restored profitability.
Lars Faeste and Stephen Lay of the Boston Consulting Group wrote the book on turnaround:
Transformation: Delivering and Sustaining Breakthrough Performance. We are sharing one chapter
called “Desperate Times Call for Effective Turnarounds,” which is filled with advice for companies
The health of the global container shipping industry in the wake of the Hanjin bankruptcy has
deteriorated. AlixPartners’ Esben Christensen and Foster Finley discuss how the industry could
return to stability, but with more bankruptcies and continued consolidation on the horizon, admit
that this seems unlikely.
William Snyder, the subject of this issue’s executive profile, spent most of his 20-year career
in the turnaround business. He took nine of his own companies through bankruptcy before
becoming a restructuring specialist. Snyder reunited 19 of his partners from former companies
to create CR3 Partners.
In our regular departments, Howard Brod Brownstein takes a look at the post-Trump election
turnaround environment in Turnaround Corner. In Legal Lines, Martin Eisenberg discusses a
precedent-creating case he argued before the New York State Court of Appeals, which establishes
an informal commitment as binding. In Specialty Lending, Victor Sandy discusses credit insurance and explains how it helps lenders.
Coming up next is our ABL Industry issue. You won’t want to miss it.
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