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FTI CONSULTING INC. Annapolis, Maryland Not That Anyone Likes A Recession, But...(THE NEW AMERICA)
Byline: STEVE WATKINS
Sure, no one really likes an economic downturn. But if there's going to be one, at least someone should benefit.
FTI Consulting Inc. is one firm that does. Its business grows as more companies grapple with financial woes.
FTI offers advice on bankruptcies, defaults, turnaround situations and other issues. That's a big part of its fast-growing financial consulting business, which makes up more than 60% of sales.
Financial turnaround and bankruptcy are the two main parts of the financial consulting unit. The firm mostly consults for money center banks that are trying to get their money back from troubled borrowers, says FTI Chief Executive Jack Dunn.
It also provides forensic accounting, where it investigates and reconstructs a company's financial details.
The high number of corporate bankruptcy filings in the midst of a struggling economy adds more money to FTI's coffers.
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