acm partners restructuring recap 7.5.15
TRANSCRIPT
ACM Partners Restructuring Recap
July 5, 2015
1 www.acm-partners.com
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”
― R. Buckminster Fuller
2 www.acm-partners.com
• David Johnson is a founding partner of ACM Partners. His advisory experience spans North America and ranges from pre-revenue startups to Fortune 500 companies.
• David’s writing has appeared in several industry publications, and he has lectured at the University of Chicago, Northwestern University, the University of Wisconsin-Madison, the University of Illinois-Chicago and Loyola University Chicago.
• David earned his MBA from the University of Chicago. His undergraduate studies were completed at Fairleigh Dickinson University.
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David Johnson
www.acm-partners.com
Email: [email protected]
Ph: 312-505-7238
Twitter: @TurnaroundDavid
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With annual debt service costs having reached $2.8 billion, and an economy mired in a nine-year recession, it is not news that Puerto Rico has financial problems.
However, the announcement by Governor Alejandro Padilla that the island commonwealth’s debt is “not payable”, and that a restructuring will be necessary, raises questions of just what shape a restructuring might take, given commonwealth’s current inability to take advantage of chapter 9 of the bankruptcy code.
Why Congress Should Let Puerto Rico Declare Bankruptcy
www.acm-partners.com
See full story in The New Yorker (here)
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Family-owned apparel company Guess, Inc. has seen better days. After an incredible 15-year run from its 1981 founding to a 1996 IPO, leadership turmoil and over-expansion have bedeviled the company, leading many outsiders to proclaim the need for new leadership to move the company forward.
The Epic Fall of Guess Jeans
www.acm-partners.com
See full story in Forbes (here)
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In a startling illustration of the flexibility of an industry that has shown extreme ingenuity, shale drillers have revamped their cost structures, restructured their debt facilities, and resumed drilling, sooner than experts imagined possible.
Experts believe that shale drillers have successfully lowered their break-even points by $15-20 a barrel.
Shale Boom Shows Strength as Rigs Gain With Oil Under $60
www.acm-partners.com
See full story in Bloomberg (here)
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A major creditor of struggling Greece has come out with a study acknowledging the obvious: a massive restructuring, including forgiveness of nearly $60 billion, will be necessary for the country to return to fiscal health.
The IMF has made an obvious point about Greece’s huge debt
www.acm-partners.com
See full story in Quartz (here)
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A number of failed apparel retailers have returned to the market in new form, supported by investor funds and the hope that a revamped business model can serve to extract value from existing brand names.
While some of these endeavors will see success, it seems certain that a number of these investments will be failures.
Retail’s Walking Dead
www.acm-partners.com
See full story in The Robin Report (here)
• ACM Partners is a boutique financial advisory firm providing due diligence, performance improvement, restructuring and turnaround services.
• David Johnson can be contacted at:– Email: [email protected]
– Ph: 312-505-7238
• For more information visit: www.acm-partners.com.
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About ACM Partners
www.acm-partners.com