A Day to Remember

 

As we return from vacation, our initial blog is coming out on September 11. Mike Flynn, the publisher of the Puget Sound Business Journal for more years than he’ll admit, now writes a blog about current events in the Northwest. His remembrance of an article written a few days following the September 11th attacks is so important in light of current events that we wanted to share it with all of our readers.

THANK YOU MIKE …

Thank you, Mike for reminding us what this day means.

(The following article, written a few days after the tragic 2011 September day that has become etched forever in our minds as 9/11, was a reporter’s wrap-up of the grief that citizens of every country shared in our behalf. The piece, written by a former, now late, United Press International colleague named Al Webb from his post in UPI’s London bureau, was first shared in The Harp on the 10th anniversary of that day and again on the 15th anniversary. Now it has become my annual reminder of that display of shared pain out of a sense that it deserves, or rather requires, being remembered.)

LAST VIEW FROM THE TOP …

Last View From The Top from grover Massenburg on Vimeo.

THE ORIGINAL ARTICLE …

LONDON (UPI) — A small girl with a Cockney accent shyly waved a tiny American flag, and a queen brushed away a tear.

In a Scottish town that has known its own tragedy, a lone church bell tolled. On a German river, foghorns sounded a low moan.

Across countries and continents, waves of sympathy for a nation in anguish rolled on. A young woman in a Kenyan park wept over the sad headlines in newspapers spread on the ground. A one-time terrorist donated blood for the victims. Hundreds stood in line in cities from Dublin to Moscow to sign books of condolences.

 

A WORLDWIDE OUTPOURING OF GRIEF …

2,977 people were killed that day

And over the outpouring of grief and mourning for the lives lost in the boiling flames and rubble of the World Trade Center towers and a wing of the Pentagon, time and again came the strains of “The Star-Spangled Banner,” sometimes in places where it had never been sung before.

In a gesture reminiscent of John F. Kennedy’s “Ich bin ein Berliner,” symbolizing his solidarity with another troubled people a half century ago, the Paris newspaper Le Monde perhaps summed it up best: “We are all Americans.”

In London, where the little girl with the funny accent and her American flag pressed her damp face against the gates, the band performing the traditional Changing of the Guard at Buckingham Palace suddenly did something it had never done before — it struck up “The Star-Spangled Banner.”

For 45 minutes, the Mall in front of the palace became a little piece of America for hundreds of its citizens who were there because there were no planes to take them home. And the band of the Coldstream Guards played on.

As tear-stained faces lifted and sang along, as Americans and British and other nationals waved Old Glory, the marches rolled — “The Liberty Bell” after the national anthem, followed by “The Washington Post March” and “Semper Fidelis” and finally, heart-rending, “When Johnny Comes Marching Home.”

 

800 MILLION PEOPLE & 3 MINUTES OF SILENCE …

What the Coldstream Guards had triggered was the greatest mass demonstration of grief in Britain since Princess Diana was killed in a car crash four years ago. 

And as with Diana’s death, a carpet of flowers, children’s toys, poems, letters, all illuminated by tiny candles, built up this time at the fortress-like U.S. Embassy in London.

Amid the hundreds of bouquets, a single American flag was wrapped around a tree. One woman pressed her tear-dampened lips to its fringe in a soft kiss.

The sweeping tide of mourning reached its crescendo at 11 o’clock Friday morning when Britain, France, Germany and scores of other countries in Europe, Africa and Asia went silent for three minutes, in honor of the innocent dead in America.

In Paris, the elevator at the Eiffel Tower stopped halfway to the top. Buses, trams and cars halted in their tracks across the continent.

In Spain, more than 650 city and town halls became gathering centers for tens of thousands who bent their heads in silent prayer — and then, at the end of the three minutes, they lifted their eyes and applauded in that people’s traditional tribute to the victims of terrorism.

On the River Elbe leading into Hamburg, ships flew their flags at half-mast. The minutes of silence crept by — and at the end were broken by the sound of a thousand foghorns rolling across the water into the city’s very heart.

In Lockerbie, Scotland, there was no applause, no singing, no bands, only the ringing of a single church bell and the flutter of flags at half-mast. This is a town with singular links to America, forged in a terrorist attack in the skies 13 years ago.

In all, according to an estimate by The Daily Telegraph newspaper in London, some 800 million people across Europe joined in the three minutes of silence.

 

INTERNATIONAL UNITY …

At Berlin’s Brandenburg Gate, once part of a dividing line between freedom and tyranny, a crowd of some 200,000 — among them Germans whose relatives had died in terrorist attacks — gathered beneath a black banner bearing the words, “We Mourn With You.”

In Paris, crowds jammed the Place de la Concorde, itself a symbol of reconciliation, while church bells rang for five minutes before the silence.  In the government’s Elysee Palace, “The Star-Spangled Banner” rang out, while over the French air waves, radio stations played John Lennon’s “Imagine.”

The bankers of Switzerland are not noted for their sentimentality, so they dealt in their own currency.  At the end of the three minutes of silence, they announced they were donating more than $500,000 to the families of the victims of the atrocities in America.

In Belfast, the bullets and bombs of Northern Ireland’s own form of terrorism, known as sectarian violence, went silent as tens of thousands from both sides of the divide — Roman Catholic and Protestant – gathered in front of a makeshift stage at City Hall, to stand in silent tribute. It is a city that knows the heartache of terrorism. “We have suffered for 33 years,” said Betty McLearon. “People here have to be admired for the way they can cope with it. It will take the people in New York a long time to get over this.”

In Moscow, the Russians observed a minute’s silence as they laid wreaths and floral tributes outside the U.S. Embassy, once a symbol of the Cold War. Thousands of Muscovites lined up patiently to sign books of condolences.

In turbulent Israel, a nurse gently inserted a needle into the right arm of Yasser Arafat, himself a one-time terrorist who is now head of the Palestinian Authority. In a demonstration of support, he was donating blood to help the American injured.

Lloyd’s of London, the insurance market based in the British capital and one of several insurers of the World Trade Center, rang its Lutine bell and observed a minute of silence in memory of the dead in America — some of them in the several broker offices Lloyd’s has — had — in the WTC.

 

THE QUEEN BEGAN TO SING …

Back in London, the minutes of silence were followed by a service of remembrance in the capital’s majestic St. Paul’s Cathedral, led by Queen Elizabeth II herself.  In the audience of 2,400 inside, Americans hoisted the Stars and Stripes for the rest of the world to see via television.

Outside the cathedral, the tens of thousands who could not get in waved their own tiny flags and listened over the loudspeakers that carried the words and music for blocks around. The cathedral’s huge organ rumbled into life, to open the service, appropriately, with the American national anthem.

Then something happened that has never happened before, certainly not in public and doubtless not even in private. Softly, the queen began to sing “The Star-Spangled Banner.”

Now, the British monarch does not “sing” national anthems. When they are played, she never even opens her mouth. Until now.

But Queen Elizabeth sang it all, this song whose words were written 187 years ago during Britain’s last war with her lost American colonies, through the final words, “O’er the land of the free, and the home of the brave.” With the last note, the queen gently brushed away a tear.

(Al Webb died in January 2015 at the age of 79 after a UPI career that ranged from the civil rights struggles to the battlefields of Vietnam to the Houston Space Center. But he could well be best remembered for this piece of moving reportage whose rereading stirs a compelling question about whether the global regard for us that the outpouring of affection evidenced remains our national treasure. Or has it become a squandered legacy.)

Revitalization Partners specializes in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations. Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.

It’s That Time of Year …

 
 

As we have done every year, it’s time for our vacation for our semi-weekly blog.

We want to express our deep appreciation to all of you who read our blog and make comments and suggestions.

We will be back in September with new thoughts regarding business and finance. We want to wish everyone a wonderful August and we look forward to seeing you next month.

For our current and prospective clients, although our blog is taking a vacation, Revitalization Partners will be working to assist you with your business issues.

 

Revitalization Partners specializes in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations. Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.

Lessons Learned Before Bankruptcy

 

In a bankruptcy, “The basic question is, are they worth more alive or dead?” said Joshua Freidman, global head of Debtwire, in an interview earlier this summer.

In this particular case, he was referring to Charming Charlies which was about to file for Chapter 11 for the second time in a little over a year following the first one.

This time around, the apparel and accessories retailer plans to close all of its remaining 261 stores and wind down its business in bankruptcy.

Over the course of 15 years, Charming Charlie was founded, grew to 400 stores, filed for bankruptcy, failed again and now its second trip through Chapter 11 marks the end of the company’s life.

Founded in 2004, the retailer made its name by its approach to merchandising, grouping products together by color. It had a pricing structure that positioned itself between department stores and teen retailers. Its core customers were women between 35 and 55 who made up 38% of its base.

 

ASSET BECAME A LIABILITY …

To execute this merchandising plan required a sophisticated inventory system” to position products by color and theme. But that system, which was the company’s calling card eventually became a liability.

“Although this inventory approach provided Charming Charlie with a strategic benefit and engendered significant brand loyalty, it eventually caused the company to be saddled with excess merchandise in under-performing color offerings.” Stated Alvaro Bellon, Charming Charlies CFO.

The pending demise of Charming Charlie is a virtual checklist of everything that can go wrong in retail and other companies with sophisticated business operations and a significant work force.

Over time, the company became caught in a death spiral. Before its first Chapter 11, the company grew its brick and mortar too quickly, built out an over-broad vendor base and was subjected to broad structural changes in the industry as customers turned away from malls and other physical retail outlets.

 

TO SAVE MONEY …

To save money, the company hacked away at its workforce, sometimes only having one associate to run a store for hours.  That hurt the retailer’s ability to convert traffic and led to poaching of remaining employees.

Numerous factors including “onerous leases” and liquidity problems made it “increasingly difficulty” to pay expenses, including $47.4 million in annual rent costs and $81 million in debt, according to court documents quoting the CFO.

To help with the liquidity issues, the company “hastily” expanded its inventory to boost the money available under its asset-based loan. But that created piles of merchandise that was either off-brand or not of the quality their customers expected.

Following the initial Chapter 11, suppliers didn’t ease the terms they demanded from the company until several months after it exited. That made it harder to get better quality merchandise on to the shelves.

Finally, after experiencing all of this, the company finally brought in financial advisors to review its business plan and its options.

With the help of the advisors, the company refinanced a loan. But it was too little, too late and Debtwire reported that the company was still facing a “liquidity crisis”.

As the company prepared to file for Chapter 11 again, it was clear that the Charming Charlie would not make it.

 

IN OUR BANKRUPTCY SYSTEM …

So, how does this happen?   In our bankruptcy system, it is difficult to distinguish a company in financial distress from an economically failed enterprise and it is doubtful that the current reorganization system is very accurate at making the distinction.

Once in Chapter 11, the decision to reorganize or not is made by a bankruptcy judge rather than the market. 

Also, the decision of whether to file is made by the debtor and the debtors management staff that have a vested interest in pushing for reorganization and preserving their jobs and ownership.

Secured creditors will generally accept a reorganization only if the company is worth more alive than dead. But unsecured creditors, who have no hope of recovery if the company is killed, have an incentive to push for reorganization, even if there is a tiny probability that reorganization will work.

 

GET INDEPENDENT ASSISTANCE …

The economic cost of inefficient reorganization can be substantial. The direct costs of bankruptcy, even for smaller companies, can run to hundreds of thousands of dollars in professional fees. If the chances of success are small, the costs to the estate can be prohibitive.

The time to get independent assistance from experienced advisors with expertise in operational restructuring is when the true economic viability of the company can be determined, and the value of assets can be maximized.

This is where the difference between operational or just financial help can make the greatest difference.

And that assistance should be requested long before bankruptcy is considered. The lessons of Charming Charlie are those for every company, even in slight economic risk, to consider.

 

Revitalization Partners is a Northwest business advisory and restructuring management firm with a demonstrated track record of achieving the best possible outcomes for our clients. And now, we’ve written a book to help our readers understand the issues facing their businesses. You can find this compilation of our business thoughts at: https://revitalizationpartners.com/we-could-write-a-book/ or on Amazon.

We specialize in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations.

Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.

Small and Medium Sized Businesses Prepare for Recession

 

The US economy has performed well over the past two years. M&A activity has been high, and entrepreneurs have bought and sold small and mid-sized businesses for record amounts.

And business owners get approved for bank loans easily.

Yet, as we complete the second quarter of 2019, 43% of small and mid-sized businesses say they have prepared for a recession. Or, at least they say that they plan to prepare.

Are these businesses seeing more that what the current economic indicators are showing?

 

SMALL BUSINESS FEELS THE IMPACT …

Yes, small businesses feel the impact of changes in the economy earlier than large businesses. 

And the latest Private Capital Access Index (PCA Index) says that small business is becoming cautious about borrowing capital.

The Director of the Pepperdine Private Capital Markets Project, Dr. Craig Everett highlights the precautions these businesses are taking, as shown in the data in this report.

“Business interest in borrowing to grow and expand appears to have plateaued.

 

PLAYING IT SAFE …

Many businesses are playing it safe by maintaining more informal sources of funds and running their businesses with an eye on cash flow and profitability.”

Pepperdine Graziadio Business School and Dun & Bradstreet conduct the PCA Index on a quarterly basis. The response in the current report comes from January and February 2019.

The index seeks to measure the demand for private capital and to gauge the health of the private capital markets.

This includes determining the demand for small and mid-sized business financing.

 

REPLACING TRADITIONAL FUNDING SOURCES …

Respondents in the survey said that they are tapping into informal or short sources of credit.

These sources are replacing going to traditional funding institutions.

These financing sources that businesses are seeking out in 2019 are:

  • personal and business credit cards at 78% and
  • using friends and family money at 76%.
  • this is the highest reported rates for these sources since the index started keeping track in 2012.

 

MINORITY OWNED BUSINESSES …

The challenges of accessing capital was higher for minority owned businesses when compared to businesses as a whole.

Capital access challenges are not expected to get better in 2019. Sixty percent said the financing environment is restricting their growth opportunities.

That number is 13% higher than the entire sample of businesses surveyed. (47%)

Because of their financial difficulties, minority owned businesses stated that it will negatively affect their hiring (66%).

But they are more optimistic than the overall market about their 2019 performance.

 

THE VAST MAJORITY IS …

Nalanda Matia, lead economist at Dun & Bradstreet said that things can get worse for minority owned businesses if the economy stumbles. 

Matia stated, “While the current lending environment is stable at the moment, economic downturn is a greater risk for those types of businesses that are already facing challenges in a healthy lending environment.”

Even while businesses are looking for alternative sources of credit, the vast majority said they are extremely confident or somewhat confident that their businesses will grow in 2019.

Only 10% said they are somewhat unconfident with 2% stating that they are extremely unconfident.

As to the challenges, 28% said finding and retaining profitable customers and attracting and retaining a quality workforce would be the major challenges in 2019, while getting the capital necessary to grow rounds out the list of issues facing these small and mid-sized businesses.

 

BANKS STILL LENDING …

Yet despite all of the projected challenges outlined, Bankers say they are lending to small businesses, but have trouble finding creditworthy borrowers.

Banks today say that they are increasing their lending to small businesses but that the recession has had a lingering effect on the demand from small business borrowers.

In addition, bankers note the dampening effect of increased regulatory oversight on the availability of small business credit.

 

THERE’S A LENDER FOR EVERY …

Not only is there more regulation and higher compliance costs, there is uncertainty about how regulators view the credit characteristics of loans in their portfolios, making them less likely to make a loan based on “softer” underwriting criteria such as knowledge of the borrower from a long-term relationship.

We have found that there really is a lender for almost every borrower and both knowing the details relating to the condition of a business and the terms and constraints of the lender, enables us to serve as a successful matchmaker at this critical time.

 

Revitalization Partners is a Northwest business advisory and restructuring management firm with a demonstrated track record of achieving the best possible outcomes for our clients. And now, we’ve written a book to help our readers understand the issues facing their businesses.

You can find this compilation of our business thoughts at:
https://revitalizationpartners.com/we-could-write-a-book/ or on Amazon.

We specialize in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations.

Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.

The Truth About Tariffs

 

President Donald Trump’s escalating tariffs on imports to the United States have begun to amount to serious money – ten billion here, ten billion there which has the potential to impact one of the most resilient economies in American history.

Tariffs have begun taking their toll on one of the successful industries in 2018 – trucking. 

 

THE TRUCKING DOWNTURN …

Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year over year.

Rates for van loads for independent truckers sank 20% in May, year over year.

While bad weather is to blame for some of this year’s trucking downturn, experts have pointed to increasing uncertainty with tariffs. When the tariffs were announced on Chinese goods, international air freight sank to a three-year low.

 

ONE BILLION PER MONTH …

A study by economists at the Federal Reserve, Princeton University and Columbia have estimated that the Trump trade war is costing US consumers more than one billion per month.

Until now, the economy has largely shrugged off the damage from Trump’s trade war. Even as the self-proclaimed “Tariff Man” has piled increasing import taxes, the job market has remained steady with unemployment as low as 3.6%.

But some industries are beginning to feel the effect. In December 2018, new truck orders plunged by 43%. And trucking is just one industry to watch.

A dip in truck orders, for example, is a sign that manufacturers and retailers anticipate that they’ll be moving less stuff. That means that they’ll be scaling back on producing, selling and other business activities.

 

EVENTUALLY HIGHER PRICES …

The new tariffs on Chinese Goods amount to billions in new taxes; paid by U.S. importers and typically passed on to consumers. For the American consumer, this means higher prices on both necessities and luxuries alike. And, exporters can expect retaliation as China increases their tariffs on American exports.

Tariffs inflict other damage that is harder to measure. They generate uncertainty for American businesses over where to buy supplies, sell goods or open new factories and offices. They can and will rattle investors and undercut consumer and business confidence.

For months, businesses and investors have convinced themselves that the tariffs were only temporary. But as trade negotiations with China collapsed and further tariffs were increased, it began to appear that tariffs were here for the longer term.

 

NO SWITCH TO “FLIP” …

Companies can’t just flip a switch and move production to a different factory.

As Chinese retaliation becomes more effective, companies that manufacture in China may switch their sales efforts to increase sales in Europe and Japan.

Jason Furman who served as Chairman of President Obama’s Council of Economic Advisors says that “to date, most of Trump’s trade war has been too small to have a large aggregate economic impact”.

That said, Furman warned that if the Chinese tariffs were extended to almost all products, “We could start to actually see the trade war in jobs, GDP and other aspects of the economy.

 

NEED PLAN A, B & C …
What to do if you are worried about the effect of tariffs on your company?

Take a lesson from Karla Klingner of the holding company Palindromes. “We’re having to put together Plan A, Plan B, and Plan C.”

Perhaps you should be doing the same for your company.

Revitalization Partners is a Northwest business advisory and restructuring management firm with a demonstrated track record of achieving the best possible outcomes for our clients. And now, we’ve written a book to help our readers understand the issues facing their businesses. You can find this compilation of our business thoughts at: https://revitalizationpartners.com/we-could-write-a-book/ or on Amazon.

We specialize in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations.

Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.

Value and Employee Compensation

 

While many of Revitalization Partners’ assignments relate to helping companies with banking and financial situations including receiverships and bankruptcies, others are assignments that involve serving as senior operating managers to help companies return to a solid business track.

Some of our experience has been in large retail businesses, a large international solar distributor, home centers, marine repair and software and hardware in high tech.

 

SERVING AS CEO or PRESIDENT …

In all of these, serving as CEO and/or President, the subject of employee compensation raises its head.  Who gets the raise and who, if necessary, gets the layoff or termination?

Employee compensation can be an emotional subject, especially if you’re the employee. 

It is often daintily tiptoed around in interviews and loudly complained about in bars. 

As managers, we firmly believe that compensation reflects an employee’s value to a company. As value goes up, so does pay.

 

IF EVERY COMPANY WERE AS …

When we express these opinions, however, we often get disgruntled rebuttals like:

> “Yeah, right.  Corporations have no concept of loyalty”,

> “Layoffs are completely arbitrary-it doesn’t matter what you’re worth” and

> “The only way to get a raise is to change jobs!”

Since these complaints are made to the one of us serving as the CEO of a company that clearly isn’t so callous – it’s obvious that these stereotypes cannot be universal.

Putting aside this irony, though, even if every company in the world were as ruthless and coldblooded as some believe, value and compensation would still be inextricably connected. 

Let’s take a look at why this is the case and how you can increase your value as an employee to get paid what you deserve.

 

THE MOST EVIL OF SUBJECTS …

We’ll be a fly on the wall in that dim, coffin-shaped room where lanky, investment centered business misers drum their spindly fingers together and cackle over that most evil of subjects: layoffs.

In our hypothetical case, when they discuss the customer support function, they decide they need to lay off one person, and gradually narrow the options down to two employees:

“Kevin” is an old-and-true company standby.  He’s worked at the company for 20 years and has been completely faithful to his job expectations.  He clocks in and out on time and delivers his customer support perfectly on script.  As a result, he’s accumulated a number of raises over the years and now makes $20 an hour.

“Shelly” has only worked in customer support for five years but has obtained advanced technical certifications, has an excellent interpersonal manner, and routinely turns upset customers into loyal patrons.  Clients who get support from her are 30% more likely to purchase additional services and to refer friends.

She talks off script a fair amount but keeps track of what she says and how customers react. As a result, she has submitted many helpful modifications to the basic IT script, resulting in a 10% increase in customer satisfaction for the whole floor. Due to her high performance, Shelly also makes $20 per hour.

Which one gets the boot?

 

THEY’RE LOSING $$$ ON WHO?

It’s Kevin without question.  The company is actually losing money on Kevin. If they fired him, a new employee would work for only $15/hour and could read the script just as skillfully as Bill does within two weeks.

If Shelly were fired, however, the company would lose out on a major source of sales, referrals, customer satisfaction, and an internal system for improving the whole department-they can’t afford to lose her!

It’s important to note that for every dollar that an employee hopes to get in increased pay, they need to bring in three to five dollars to the business for that raise to make sense.

But what about faithful old Kevin? It would be so mean to fire him! Kevin’s problem is that he hasn’t really done anything to justify his increased wages. Small raises have accumulated on his paycheck like moss on an old river rock, but his real value is still around $15 an hour.

However, since Kevin has been working at the company for so many years, he probably “feels” like he’s worth $20 an hour. Never mind the fact that he couldn’t get paid $20 an hour at a different company, he’s “put in his time,” so he’s worth $20 an hour, right?

 

WHOSE FAULT IS IT THEN?

But whose fault is this really?  Maybe if Kevin’s management had a higher standard than “doing the minimum”, Kevin might have grown with the job or realized he was in the wrong spot.

This is definitely not trying to understate the value of experience and wisdom. Good employees learn and grow over time, so they provide more value for their employer.  As a reward, they get raises.

The problem is, those raises are often based on meeting minimum standards for specified periods of time-not the value an employee brings to the table. 

As a result, when push comes to shove and a company needs to evaluate the worth of an employee, “years on the job” means far less to the business than added value.

 

TIME EQUALS MONEY … RIGHT?

Many employees are confused about what their salaries pay for.  When people first enter the workforce as teenagers, they usually start with an hourly wage. The equation is simple: The more you work, the more money you get.

Unfortunately, after a couple of years, many people begin to translate time into money and begin to think, “I’ve put in a lot of time at this job, so it stands to reason that I should be making a lot of money!  I need a raise!”

Allow this bubble to burst. Value isn’t a function of time. There are 24 hours in a day whether a company pays for them or not-it’s what you do with those hours that counts.

Even for hourly employees, businesses aren’t paying for time-they’re paying for value. To put it simply, an employee is a company asset, and compensation is an investment in that asset.

If you’re having difficulties in getting the return from your business that your companies need, there are organizations that can help.   We do it every day.

 

Revitalization Partners is a Northwest business advisory and restructuring management firm with a demonstrated track record of achieving the best possible outcomes for our clients. And now, we’ve written a book to help our readers understand the issues facing their businesses. You can find this compilation of our business thoughts at:
https://revitalizationpartners.com/we-could-write-a-book/ or on Amazon.

We specialize in improving the operational and financial results of companies and providing hands-on expertise in virtually every circumstance, with a focus on small and mid-market organizations.

Whether your requirement is Interim Management, a Business Assessment, Revitalization and Reengineering or Receivership/Bankruptcy Support, we focus on giving you the best resolution in the fastest time with the highest possible return.