Turnaround Management Association Awards Carl Marks Student Paper Competition Winner

CHICAGO, Nov. 15, 2011 /PRNewswire-USNewswire/ -- The Turnaround Management Association awarded the 2011 Carl Marks Student Paper Competition Award to a recent graduate of the University of Texas at Dallas.

Sudhanshu Jain, who by August earned both his Master of Science degree in finance and MBA from the Naveen Jindal School of Management, was honored for his case analysis October 26 during an awards ceremony at the 2011 TMA Annual Convention in San Diego. The first-place prize consisted of a $3,000 cash stipend and expenses to the annual convention.

The student paper competition recognizes outstanding achievement in the study of corporate renewal by students enrolled in MBA or equivalent business-related master's programs at the time the paper is written.  Established in 2003, the national competition is funded by Carl Marks Advisory Group LLC in New York.

Jain's paper, "Restructuring Zales Corporation" put forth a comprehensive restructuring plan for the financially ailing jewelry retailer based in Irving, Texas. Among other things, the paper recommended closing down underperforming stores, changing the corporate structure to reduce expenses, introducing new product lines and divesting unprofitable brands.

"The study of turnarounds (and restructurings) implicitly exposes students to the consequences of poor management decisions and the important skills required to make improvements," said George DeCourcy, Jain's project advisor, resident fellow at the Center for Finance Strategy Innovation at the University of Texas at Dallas, and a TMA Dallas/Ft. Worth Chapter member.

"This allows for far more depth of understanding than simply reviewing a successful business case where the clarity of management's decision-making role might be obscured."

Chicago-based Turnaround Management Association, www.turnaround.org, the premier international nonprofit association dedicated to the corporate renewal industry, has more than 9,000 members in 49 regional chapters who comprise a professional community of turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultants. 

Carl Marks Advisory Group LLC, www.carlmarks.com, with offices in New York; Vienna, Va.; Bedminster, N.J.; and Charlotte, N.C., provides a wide array of investment banking and financial, operational and real estate advisory services to the middle market, including mergers and acquisitions advice, sourcing of capital, financial restructuring plans, strategic business assessments, improvement plans and interim management.

SOURCE Turnaround Management Association