Getzler Henrich & Associates LLC

Cost Accounting in Service Organizations

getzleradmin — Fri, 02 Dec 2011 19:29:39 +0000

In the November/December 2011 issue of the ABF Journal, Stephan Pinsly describes the challenges facing service companies in his article entitled “Turnaround Accomplished: Correcting Cost Accounting in Service Organizations.”

QUOTES AND CLIPS

getzleradmin — Fri, 02 Dec 2011 14:51:37 +0000

Getzler Henrich senior director Mark Podgainy discussed the pros and cons of DIP loans in a recent interview by Emily Chasan, a senior editor for CFO Journal. Mark commented, “You can’t really get through a restructuring without a DIP loan, unless you have a huge pile of cash,” said Mark Podgainy, senior director at corporate turnaround firm Getzler Henrich in New York. “It’s unusual, but if a company can survive until they get to their peak cash cycle, then they can do it.”

Mark has also been quoted in an article on the changing landscape of bookstores written by Steve Schaefer on Forbes.com. The article was entitled “Billionaire John Malone’s Liberty Media Bids For Barnes & Noble.” Mark has also been quoted in a Reuters story by Chelsea Emery on Innskeepers USA filing for Chapter 11 bankruptcy.

Bill Henrich, co-chairman of Getzler Henrich, authored an article entitled “Dressing Up a Company for Sale”. It was published by Buyouts magazine, a Reuters publication, which is available by subscription at www.buyouts.com. Bill is a frequent and sought-after speaker and commentator on issues facing distressed businesses and companies trying to grow.

Getzler Henrich senior director Mark Podgainy was quoted in a story about the changing landscape of bookstores written by Steve Schaefer on Forbes.com. The article was entitled “Billionaire John Malone’s Liberty Media Bids For Barnes & Noble.” Mark Podgainy, a senior director at restructuring firm Getzler Henrich, said in a March interview that a rival going bankrupt in the retail space is not the boon it once was. In fact, in a case like Borders and Barnes & Noble, such an event can produce a short-term negative impact, because the failed company “is liquidating their store inventory and undercutting you on price.”

Mark was also quoted in a Reuters story by Chelsea Emery on Innskeepers USA filing for Chapter 11 bankruptcy.

Getzler Henrich senior director Robert Gorin was quoted in a series of articles by CRMsearch.com’s columnist Rick Cook. The articles describe the importance of developing a client-centric strategy for Customer Relationship Management (CRM) systems, which involves properly aligning a company with its customers’ needs and requirements.

Dealing with the CRM Change Prevention Committee – Rob calls them the “Change Prevention Committee” — the unorganized or semi-organized forces of resistance that form spontaneously in companies adopting a new approach.

How To Get More Payback From Your CRM Investment- Gorin cites the example of a company that sells printer ink cartridges.
CRM Software Benefits That Deliver Big ROI – “Basically you’re looking to create something that will make your clients’ lives simpler and easier, ” says Gorin.

How to Prevent Becoming CRM Roadkill -“What’s amazing to me is that a lot of those factors haven’t changed over time,” Rob notes.

Inventory Mythology

getzleradmin — Wed, 14 Sep 2011 19:55:11 +0000

In the September 2011 issue of the ABF Journal three of Getzler Henrich’s New York-based consultants share practical tips on inventory management in their article Myths, Legends & Old Wives’ Tales… Slaying the Inventory Dragon.

Read the article here.

Memo to Distressed Hotel Investors: Understand the Opportunities and Risks

getzleradmin — Mon, 06 Jun 2011 19:10:11 +0000

Investing in Distressed Hotel Properties—Timing matters, too

The old saying that location is the key consideration in real estate investments is only half the story when it comes to investing in distressed hotels. Getzler Henrich’s Mark Podgainy discusses risks and opportunities inherent in hospitality industry investments in his article about investing in distressed hotel properties. Mark offers tips about when and how investors can take advantage of distressed hotel opportunities. Read the article here.

Making Lean hum in a machine environment

getzleradmin — Wed, 01 Jun 2011 21:45:50 +0000

Getzler Henrich’s head of process improvement consulting shares insights into applying lean manufacturing principles to help reduce costs and improve manufacturing cycle types in the May issue of Plant Engineering magazine. Read the article here.

Restaurants Improve Bottom Line with Nine Simple Steps

getzleradmin — Wed, 26 Jan 2011 22:07:29 +0000

Knowing how waste occurs in your restaurant and how it can be avoided can mean the difference between its success and failure. In this Restaurant Hospitality magazine article, Mark Samson discusses nine specific inventory blunders, reminding readers to look after these sources of waste because the good inventory will always look after itself.

» Download Full Article (PDF)

Formal Composition Agreements: A Cost-Effective Option to Chapter 11

getzleradmin — Wed, 11 Aug 2010 21:28:32 +0000

Mark Samson, Getzler Henrich managing director, and Julie Dyas, an attorney at Halperin Battaglia Raicht, discuss alternatives to Chapter 11 filings. While bankruptcy can be an effective tool, the price to file is costly. Just the retainers for professionals in a small case could be substantial,as the debtor often needs both an attorney and financial advisor. The end result can easily be in the region of $500,000 to $1,000,000.

There is also the emotional aspect of the owners appearing in court and publicly disclosing monthly financial information. In addition, the majority of companies filing Chapter 11 do not come out of Chapter 11 if they do not have an exit strategy, versus a pre-pack, whereby companies already have a plan and decide that it is best to consummate the plan with the protections Chapter 11 provides. An alternative to Chapter 11 is a composition agreement, which is an out of court restructuring plan.

» Download Full Article (PDF)

Minimizing Lender Fraud Losses in Today’s Economy

getzleradmin — Wed, 11 Aug 2010 21:28:13 +0000

Steve Pinsly and George Gerstein discuss why fraud is a bigger issue among Asset-Based-Lenders (ABLs) than commercial lenders, and recommend that IT systems be included in field audits to evaluate the impact they have on bank reports.

» Download Full Article (PDF)

Applying Turnaround Techniques To Healthy Companies

getzleradmin — Wed, 11 Aug 2010 21:26:54 +0000

Tyler Mayoras explains how LBOs can benefit from the techniques used to turn around distressed businesses.

» Download Full Article (PDF)

Distressed US M&A Market Draws Foreign Interest

getzleradmin — Wed, 11 Aug 2010 21:25:53 +0000

Mark Podgainy discusses advantages to the purchase of distressed assets by non-US investors.

» Download Full Article (PDF)