Comments for The Turnaround Blogger ™ http://www.theturnaroundblogger.com The sooner, the better. Fri, 13 Jan 2012 18:37:28 +0000 hourly 1 http://wordpress.org/?v=3.1.3 Comment on What is a turnaround? by Tom Howell http://www.theturnaroundblogger.com/what-is-a-turnaround/#comment-1506 Tom Howell Fri, 13 Jan 2012 18:37:28 +0000 http://www.theturnaroundblogger.com/?p=1745#comment-1506 Thank you Renee for your perspective that fixing the balance sheet AND operations is frequently required. I recognize however that there is pressure on the Turnaround Specialist to deliver results very quickly. That's why my company offers support for the turnaround specialist by addressing the operational fixes that most drive bottom line and top line results in parallel with an in support of the Turnaroun Specialists activities. Essentially, collaboration between financial and operational specialists makes sense to us. Tactical Lean Operations people and sometimes some IT specialist can make alot happen very quickly in support of the turnaround. Thank you Renee for your perspective that fixing the balance sheet AND operations is frequently required. I recognize however that there is pressure on the Turnaround Specialist to deliver results very quickly. That’s why my company offers support for the turnaround specialist by addressing the operational fixes that most drive bottom line and top line results in parallel with an in support of the Turnaroun Specialists activities. Essentially, collaboration between financial and operational specialists makes sense to us. Tactical Lean Operations people and sometimes some IT specialist can make alot happen very quickly in support of the turnaround.

]]> Comment on What is a turnaround? by Charles Boyton http://www.theturnaroundblogger.com/what-is-a-turnaround/#comment-1505 Charles Boyton Wed, 04 Jan 2012 18:13:28 +0000 http://www.theturnaroundblogger.com/?p=1745#comment-1505 Tony: you are right. Forgive the TMA people, they are accountants, junior level attornies. I dropped out of TMA almost 20 years ago because it was beig populated by people who think financial engineering is some sort of data processing game. Truth: you cannot financially engineer an operation losing cash. Can't be sustainably done. Turnarounds: cash, cash, cash. That is an income statement issue. You might take your remarks to TMA?? Chas. Tony: you are right. Forgive the TMA people, they are accountants, junior level attornies. I dropped out of TMA almost 20 years ago because it was beig populated by people who think financial engineering is some sort of data processing game.

Truth: you cannot financially engineer an operation losing cash. Can’t be sustainably done. Turnarounds: cash, cash, cash. That is an income statement issue. You might take your remarks to TMA?? Chas.

]]> Comment on What is a turnaround? by John Griglun http://www.theturnaroundblogger.com/what-is-a-turnaround/#comment-1504 John Griglun Wed, 04 Jan 2012 11:49:06 +0000 http://www.theturnaroundblogger.com/?p=1745#comment-1504 To me both the balance sheet and the operation itself need to be fixed for a turnaround practitioner to legitimately say that a turnaround has taken place. How many times does one see a decent balance sheet without a sustainable operation? More often than many would care to admit. What the turnaround expert must ask themselves is how do I deliver the most value? To me the answer is if my turnaround efforts result in a sustainable business with a solid balance sheet I have done my job. Anything less means I have delivered only part of the package. To me both the balance sheet and the operation itself need to be fixed for a turnaround practitioner to legitimately say that a turnaround has taken place. How many times does one see a decent balance sheet without a sustainable operation? More often than many would care to admit.

What the turnaround expert must ask themselves is how do I deliver the most value? To me the answer is if my turnaround efforts result in a sustainable business with a solid balance sheet I have done my job. Anything less means I have delivered only part of the package.

]]> Comment on A retail trend I don’t like by mknomad http://www.theturnaroundblogger.com/a-retail-trend-i-dont-like/#comment-1485 mknomad Wed, 01 Jun 2011 23:01:42 +0000 http://www.theturnaroundblogger.com/?p=1582#comment-1485 This issue becomes more and more annoying every year, and I too don't really understand how it is an advantage to a seller, but I am determined to find out. Apparently, there has been legislation Re 'price indication' in the past, and I am interested in finding out what this is really all about, and I will start reporting stores that do this if I find out they are breaking any applicable law or ordinance I can find. As of now, since I've read that it is annoying to retail employees to hear the quip, "well, if there's no tag, it must be free (incipient giggle)...?" I shall begin to use this line. I swear, at least half of the stuff in my local 7-11 has no price tags. It's really maddening, when, as you said, these are things I NEED, and I don't have time or the patience to ask the price of every single item. This issue becomes more and more annoying every year, and I too don’t really understand how it is an advantage to a seller, but I am determined to find out. Apparently, there has been legislation Re ‘price indication’ in the past, and I am interested in finding out what this is really all about, and I will start reporting stores that do this if I find out they are breaking any applicable law or ordinance I can find. As of now, since I’ve read that it is annoying to retail employees to hear the quip, “well, if there’s no tag, it must be free (incipient giggle)…?” I shall begin to use this line. I swear, at least half of the stuff in my local 7-11 has no price tags. It’s really maddening, when, as you said, these are things I NEED, and I don’t have time or the patience to ask the price of every single item.

]]> Comment on Harry and David: From my interview this morning…. by Renee http://www.theturnaroundblogger.com/harry-and-david-from-my-interview-this-morning/#comment-1463 Renee Sun, 20 Feb 2011 09:36:03 +0000 http://www.theturnaroundblogger.com/?p=1359#comment-1463 Good questions, David. In response, I just posted: Harry and David: Interim CEO. Good questions, David. In response, I just posted: Harry and David: Interim CEO.

]]> Comment on Harry and David: From my interview this morning…. by David http://www.theturnaroundblogger.com/harry-and-david-from-my-interview-this-morning/#comment-1462 David Fri, 18 Feb 2011 18:55:19 +0000 http://www.theturnaroundblogger.com/?p=1359#comment-1462 Today Harry and David announced Kay Hong as interim CEO and Chief Restructuring officer. I saw that Kay is part of TMA, are you familiar with her at all and is that a good thing for them, if a bit late? Today Harry and David announced Kay Hong as interim CEO and Chief Restructuring officer. I saw that Kay is part of TMA, are you familiar with her at all and is that a good thing for them, if a bit late?

]]> Comment on Distressed Investing + Leadership by Bill Maris http://www.theturnaroundblogger.com/distressed-investing-leadership/#comment-1457 Bill Maris Wed, 02 Feb 2011 05:33:19 +0000 http://www.theturnaroundblogger.com/?p=1277#comment-1457 Correction: Lets try changing the penultimate line of my comment to "...easier for the store to look AT skus...." Correction: Lets try changing the penultimate line of my comment to “…easier for the store to look AT skus….”

]]> Comment on Distressed Investing + Leadership by Bill Maris http://www.theturnaroundblogger.com/distressed-investing-leadership/#comment-1456 Bill Maris Wed, 02 Feb 2011 05:28:26 +0000 http://www.theturnaroundblogger.com/?p=1277#comment-1456 To Renee's point re Kiosks: A former colleague of mine was, for a time, CFO of a well known retailer; one who books "90%" of their revenues from temporary mall kiosks across the US during the holiday season. I am sure the logistics are demanding, but think of the overhead the organization does NOT have to cover. Next, towards Renee's second example, the hardware store: I may have missed her saying so, but a strong point in favor of the example store's smaller layout and reduced sku mix is that it fosters a useful "Lets find what you need" response from knowledgeable employees. This puts the employees in a position to keep close tabs on skus based on face-to-face customer contact; this makes it easier for the store to look skus in terms of real customers, price points and operating margins. To Renee’s point re Kiosks: A former colleague of mine was, for a time, CFO of a well known retailer; one who books “90%” of their revenues from temporary mall kiosks across the US during the holiday season. I am sure the logistics are demanding, but think of the overhead the organization does NOT have to cover.
Next, towards Renee’s second example, the hardware store: I may have missed her saying so, but a strong point in favor of the example store’s smaller layout and reduced sku mix is that it fosters a useful “Lets find what you need” response from knowledgeable employees. This puts the employees in a position to keep close tabs on skus based on face-to-face customer contact; this makes it easier for the store to look skus in terms of real customers, price points and operating margins.

]]> Comment on 2011: The Year of Improved Customer Service? by Bill Maris http://www.theturnaroundblogger.com/2011-the-year-of-improved-customer-service/#comment-1440 Bill Maris Sun, 09 Jan 2011 21:27:00 +0000 http://www.theturnaroundblogger.com/?p=1157#comment-1440 I agree with Renee's comment and believe that that "cost" mis-states and obscures the objective. When the push is on to improve margins, replace the word "cost" with "resources to get the job done" and the discussion takes on a new, revitalizing, and re-energizing dimension! I agree with Renee’s comment and believe that that “cost” mis-states and obscures the objective. When the push is on to improve margins, replace the word “cost” with “resources to get the job done” and the discussion takes on a new, revitalizing, and re-energizing dimension!

]]> Comment on 5 Signs Your Company’s in Distress by Dan Rexford http://www.theturnaroundblogger.com/5-signs-your-companys-in-distress/#comment-1387 Dan Rexford Fri, 30 Jul 2010 02:37:09 +0000 http://www.theturnaroundblogger.com/?p=1044#comment-1387 Good, sound advice, Renee. There are far too many liquidations and 22s because the blocking and tackling is overlooked. best, Dan Good, sound advice, Renee. There are far too many liquidations and 22s because the blocking and tackling is overlooked.

best,

Dan

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