As Economic Recovery Crawls, Turnaround Pros Offer Reality Check

CHICAGO, Jan. 10, 2011 /PRNewswire-USNewswire/ -- After last week's release of a lackluster U.S. jobs report, all eyes from Capitol Hill to Main Street are turned to identifying what industries promise economic relief and when they will deliver. That relief may be a long time coming, corporate restructuring professionals suggest.

Turnaround Management Association, the only nonprofit professional association dedicated to the corporate restructuring, distressed investing and turnaround management industry, will present a webinar that covers the likely trajectory of various business sectors that contribute to the health of the domestic economy.

The teleconference and online program, "2011 Industry and Economic Forecast: We are not Out of This Yet," will be held Tuesday, January 18, 2011 from noon to 1 p.m. (EST). Register at http://www.turnaround.org/Events/Calendar.aspx?objectID=1661.

Presenters will review the 2010 economic scene, interpret results from TMA's latest survey on industries most likely to face trouble and those most likely to improve, and draw from their professional experience working with businesses mired in operational and financial problems.

• Kenneth R. Yager II, principal, MorrisAnderson, Chicago.  Yager possesses nearly 20 years' experience in the restructuring industry, including overseeing profit and loss at cash-constrained companies in growth, leveraged-buyout and turnaround situations. He focuses on middle-market business services industries and out-of-court turnarounds.
• Patrick C. Lagrange, TMA's immediate past chairperson and managing director, Carl Marks Advisory Group LLC, New York.  Lagrange has nearly 20 years' experience negotiating and executing financial restructuring, M&A, and investment transactions for U.S. and Canadian companies. At Carl Marks, he oversees financial restructuring, private capital finance and mergers and acquisitions services and serves as consultant on advisory engagements.
• William J. Hass, CTP, a TMA past chairperson, CEO of TeamWork Technologies Inc., Northbrook, Illinois, and co-author, with supply-side economics proponent Arthur B. Laffer, of The Private Equity Edge.  Hass's restructuring experience spans more than 25 years and includes engagements with stable and distressed Fortune 500 companies and smaller, privately held businesses involved in manufacturing, media, homebuilding and the automotive industry.

Chicago-based TMA, www.turnaround.org, has more than 9,000 members in 47 chapters worldwide and includes turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultants.

SOURCE Turnaround Management Association

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