Bank of New York

Evaluate and continue involvement operationally as an advisor of improvements for a $150 million manufacturer of component parts sold to truck and recreation vehicle manufacturers.

Operate as chief executive officer of a manufacturer of food service equipment with operations in Kentucky, New York, Illinois and Bangkok.

Castle Harlan

Chief Executive Officer of $160 million in sales Commemorative Brands Inc. (aka, American Achievement Corp.) a high school and college class ring and fine paper diploma manufacturer.  In six months, produced a $1.7 million Operating Profit versus prior year’s $229,000 Operating Loss.

CIT Group

Chief Executive Officer of $20 million in sales Springfield Precision Instruments Inc. a thermometer and timer manufacturer selling to the Wal*Mart and Home Depot channel segments.  Fixed company by closing USA manufacturing plant and building company owned plant in China.  Initiated the acquisition of a China based digital electronics manufacturing company.  Turned $276,000 Operating Loss into $1.8 million Operating Profit.

At same time, also was CEO of Evenflo Company and worked on Burke Industries Inc. and Pacific Aerospace Inc. for GSC Partners.

Clarion Capital

Pre-acquisition due diligences: $500 million World Kitchen and $35 million Hartmann Luggage.

Dresdner Kleinwort Benson

For Equinox LLC, evaluation of troubled $105 in sales Elizabeth Webbing Mills Co., a manufacturer of textile webbing with a $4 million net loss and a $3 million negative free cash flow. Judged the company viable with several operational improvements and a $7 million equity investment.

General Electric Capital

Chief Executive Officer of $20 million in sales Drexel Industries, a fork lift truck manufacturer.  In five months, improved Operating Profit to 8.2% of sales from prior year’s 3.6% Operating Loss.

At the same time, was also Chief Executive Officer of Jones Plumbing Inc. for the Jordan Company.

Gibbons, Green, van Amerongen

Chief Executive Officer of $210 million in sales Ladish Co., an aerospace forgings and industrial valve manufacturer which had registered a $2.3 million Operating Loss each month for 6 consecutive months.  Achieved profitable Operating Income in third month at $512,000 and $1.3 million in the fourth month. Converted its $22 million Deficit Net Worth into a $32 million positive New Worth.

Advisor on $100 million in sales aluminum extruder Wells Aluminum Company’s Kero bankruptcy.

GSC Partners

With Court approval operated as untitled Chief Executive Officer of $105 million in sales commercial flooring and aerospace silicone seal manufacturer Burke Industries Inc. making decisions on facility closings, a product line acquisition, capital spending, organization and writing the plan of reorganization for the Court.

Completed post-acquisition evaluation and advised on turning around $95 million in sales hermetic connector manufacturer Pacific Aerospace Inc.

At same time, was CEO of Springfield Precision Instruments Inc.

Harvest Partners

Executive Chairman, operating as Chief Executive Officer, of Evenflo Company a $300 million in sales manufacturer of baby products: bottles, strollers, car seats.  Its $28 million in sales Mexico City subsidiary had recorded a $390,000 Operating Loss – completed an operational restructuring which generated a $3 million annual Operating Income.

At same time, was also Chief Executive Officer of Springfield Precision Instruments Inc. and worked on a due diligence with Silver Point Capital.

The Jordan Company

While Chief Executive Officer of GE Capital’s Drexel Industries, was simultaneously CEO of $40 million in sales Jones Plumbing Inc., a severely distressed drain and pipe connector manufacturer.

Kohlberg Kravis Roberts

Advisor and member Board of Directors for Walter Industries, Inc. a $2 billion in sales manufacturer of homes, water pipe, metals, coal mining.

Member Board of Directors Evenflo Company, a $300 million in sales manufacturer of baby products: bottles, strollers, car seats.

KPS Special Situations Funds

Developed strategic focus and profit improvements for Ashcroft Holdings Inc. a $120 million pressure gauge manufacturer.

LvA Enterprises

Diagnosed operating problems and solutions for Erickson Air-Crane Co. an $85 million helicopter service company whose EBITDA had declined from $14 million to virtually zero.

Morgan Stanley Capital Partners

Established deal flow, due diligence evaluations, and advised regarding acquiring manufacturing companies with sales of $500 million to $1 billion.

Pre-acquisition due diligence of $2.4 billion American Standard Bath and Kitchen Business.

Silver Point Capital

Due diligence of $700 million in sales Murray Inc., manufacturer of lawn mowers and snow blowers, for this hedge fund.  At same time, was CEO of Evenflo Company and Springfield Precision Instruments Inc.

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Chief Executive Officer

Executive Chairman

Turnarounds & Operational Restructurings

Adviser to creditors, board of directors or owners

Pre-acquisition & troubled company due diligence evaluations

Develop strategic and operating plans - including Court required plans of reorganization

Acquisition advice and negotiations

Serve as Member Board of Directors

Testify in Federal and State Court

Reason I wrote my book “Learn to Whisper”

Click on this link for a more complete description of “Learn to Whisper”

The reason I wrote “Learn to Whisper”:

My conclusion after operating as a Turnaround Chief Executive Officer for more than twenty-five years is that the majority of this country’s top management is far from first-rate. In fact top management, particularly at the chief executive officer level, is at best average with a large number that can be rated mediocre. This lack of management competence has seen this country’s market leaders lose sizeable market share to foreign manufacturers able to export better quality and lower cost products to the USA. It has seen manufacturing and service operations unnecessarily moved to foreign countries. All of which has negatively affected the economy, severely damaged former blue-chip corporations and seen quality jobs lost.

It is quite common to discover that companies struggling with this inability to compete with foreign companies have been simply mismanaged. The once successful business deteriorated because of an incompetent chief executive officer and weak senior management

Why doesn’t this nation have first-rate management? Inadequate training. Chief executive officers and vice presidents learn “on the job”. A number get promoted based on personality, political connections and drive – not merit. They are not carefully screened for the potential to become successful at managing. For some all that is needed is a well-written resume, the right interviewing style and the inability of a new employer to accurately assess skills, performance and potential.

Compare this to the process doctors go through. From medical school to internship to residency to a senior role after years of education, experience and continuous training their progress and capabilities are constantly monitored even after they become senior in the profession. Generals and Admirals go through a similar protocol. They must prove themselves in low-level assignments before they are judged qualified for senior positions. Unqualified applicants in both professions are culled out. What can be done to improve management competence? Education, on-the-job training and job performance monitoring. My book will educate people on the subject of managing. Its 101 management lessons are separated into the 17 subjects managers need to know.