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Maximizing human assets in restructuring. (Business Credit Selected Topic).(Brief Article)

Business Credit

| September 01, 2002 | Zwaig, Melvin C.; Geller, Julia | COPYRIGHT 2002 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Remember the Tin Man in "The Wizard of Oz" who went to see the Wizard because he wanted a heart? Debtor company employees often perceive the restructuring professional as the Tin Man before he was granted his heart.

The Tin Man?

We challenge you to ask the general public, particularly those who have been through a restructuring, what they think about turnaround/restructuring professionals. You will likely discover that restructuring professionals are perceived as ruthless, heartless individuals who often come into a struggling company; show complete disregard for the company's business and its people; fire employees, liquidate assets and shut the ...

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Source: HighBeam Research, Maximizing human assets in restructuring. (Business Credit Selected...

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