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Tag >> restructuring
Nov 12
2010

How to slash costs at the US Postal Service

Posted by Stephen Taub in US Postal Serviceretiree healthcarerestructuringcost cuttingCash

Stephen Taub

If a company determined it would lose $8.5 billion in the current year, more than it had previously expected, due to lower volume of business, what would it do?

Close plants or warehouses, fire employees and orchestrate a major restructuring.

Sep 02
2010

UK government toys with restructuring moratorium

Posted by nicklord in UKrestructuring

nicklord
 

The UK government is seeking comments to a white paper it has issued on the idea of creating a restructuring moratorium. Such a moratorium would allow companies that face cash flow issues to seek a moratorium on their debts as they seek to restructure them. The move would add a new layer of flexibility to the existing bankruptcy and administration regimes.

The paper is a response to the £90 billion of private equity related leveraged loans that are due to mature between now and 2015.

Jul 30
2010

Time for yet another reorg?

Posted by SherylNash01 in restructuringreorganizationcareer/management

SherylNash01

Four out of five organizations, mostly large corporations and some non profits and governments, have gone through some sort of redesign initiative over the past 12 months, according to a survey of more than 400 programs by 260 such organizations by the Corporate Executive Board. Trouble is, more than half of these organizations expect to go through another major redesign over the next 12 months.

While 90 percent of those organizations reported hitting the cost-cutting targets after one year, only 60 percent hit the employee performance targets for their redesign initiatives. As a consequence, many of the redesign efforts have led to unclear decision-making authority, reduced collaboration or poor alignment between employees' interests and their new jobs. As performance suffers, the benefits from the cost savings are likely to disappear over time.

Jun 23
2010

Corporate spin-offs increasing

Posted by dbedell in spin-offrestructuringMBO, LBO, IPOdivestituresDealsCash

dbedell

As companies continue with global restructuring, spin-offs are increasingly being used to slim down and focus on central businesses, bring in some capital, and help the individual businesses to build market value separately. Whether through an IPO, an MBO, an LBO or simply by issuing shares to current shareholders, US and global companies are shedding assets left and right.

Lockheed Martin is restructuring to change its focus on long-term growth, and the company is putting some less-strategic units up for sale as part of the process. Most of its Enterprise Integration Group and its Pacific Architects and Engineers unit--both now falling under its Information Systems & Global Services business—will be spun off. In addition, as the firm tightens its focus within the defence sector, the divestitures are also part of a move to comply with recently-drafted Pentagon conflict of interest rules for contractors, according to the company.

Mar 02
2010

The Post Office lesson for the government option

Posted by Stephen Taub in U.S. Post Officerestructuringgovernment option

Stephen Taub

Desperate times even get government bureaucrats to make desperate-and sane decisions. Well maybe.

Today the Post Office finally unveiled a series of major changes, but only because it must deal with a $3.8 billion loss in its 2009 fiscal year, and a $10 billion deficit. It never should have gotten to this point. It is like the person with a big lump on their body who got diagnosed with cancer but never bothered to go for surgery until it was too late.

Oct 28
2009

We're Not Gonna Take It

Posted by HJohnson in restructuringGMfinancingdebtCIT, bankruptcy, Bankingbailout

HJohnson

Judging from responses to the Wall Street Journal's report that the government is about to help GMAC out again to the tune of $2.8 billion, the worm, or, er, taxpayer, has finally turned.

Judging from responses to the Journal's article, and other responses to articles and blogs, everyone seems to be singing that catchy Quiet Riot song, "We're Not Gonna Take It."

Of course, it's likely to fall on deaf ears in Washington, but some folks are coming up with some thoughtful ideas, as they have all along, of course, during the whole bailout debacle.

Aug 12
2009

Your Excel problems are nothing compared to Evercore’s

Posted by MQuinn in restructuringGeneral MotorsEvercore, bankruptcy, AlixPartners

MQuinn

Success is often a relative term. That's surely the case in the restructuring of General Motors.

Restructuring bankers at Evercore and turnaround specialist AlixPartners are in a battle with the U.S. trustee in the GM case over fee requests related to the work they've done both leading up to and during the automaker's bankruptcy. Those fees include "success" fees of $17.9 million and $13 million, respectively, even though the U.S. government had to step in to head the restructuring and take a stake in GM.





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