March 9, 2010
Slow Recuperation
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January 20, 2010
Economic Rebound No Sure Thing In 2010, Experts Say
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December 21, 2009
Bending the Truth Can Break a Career
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November 18, 2009
A Year In Review: Coping with Crisis
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November 12, 2009
Executive Expect More Private-Equity-Backed Bankruptcies In 2010
Amid an economy that's not expected to dramatically recover anytime soon, a new study reports that one in six U.S. private-equity executives expect to put one or more of their firms' portfolio companies into bankruptcy over the next year.
To read the complete article, please click here.
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October 21, 2009
Bill Lenhart, Partner, National Director of Business Restructuring Services practice, comments on the "Bankruptcy Racket" in Mergers and Acquisitions Reports Newsletter
Despite the freeze on credit markets beginning to thaw, there remains a lack of liquidty in leveraged loan markets. Commenting on this unique situation, Bill Lenhartm BDO Consulting National Director of Business Restructuring said, "Any rebound in lender confidence may be offset by the hundreds of billions in middle market debt coming due over the next few years. Still, there is not a lot of DIP lending available."
Hedge funds making DIP investments did so without the expectation each of their plays would pan out, Lenhart said. Over the next one to three years, the more sophisticated lender block that capitalized on bankrupt companies' desperation to get operations funded will seek to sell or IPO these discounted assets back to investors willing to take a bet on a restructured entity.
… The best option, Lenhart suggested, for companies teetering on at Chapter 11's doorstep is to begin mapping out a plan as quickly as possible.
"When you have a problem, management has got to recognize it before there is a cash flow problem," he said.
To read the complete article, please click here.
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October 21, 2009
BDO Consulting Helps Debtor Buck Liquidation Trend among Retailers
In a move that confirms troubled retailers can continue to operate and avoid full liquidations, the U.S. Bankruptcy Court for the District of New Jersey has confirmed a joint plan for Against All Odds USA, Inc. ("AAO", "the Debtor"), a New Jersey-based retailer specializing in hip-hop style urban clothing, to avoid liquidation and continue as a going concern under a new, restructured entity backed by third-party investors, New Deal, LLC ("New Deal").
To read the complete article, please click here.
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October 19, 2009
The ins and outs of earnouts
Jeffrey Katz, Partner in BDO Consulting's Post Acquisition Dispute practice, was quoted in The Deal. In this article, he comments on his recently published article, "The Earnout Fallout," in The Deal Magazine in which he writes about the rise in post-acquisition disputes that will invariably follow the appearance of earnouts in more deals.
To read the complete article, please click here.
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October 12, 2009
Social-Media Con Game: Companies find new ways to battle fraudsters who create fake corporate profiles
Stephanie Giammarco, Partner in BDO Consulting’s Computer Forensics and E-Discovery practice was quoted in the Wall Street Journal in an article by Sarah E. Needleman. Ms. Giammarco comments on social media sites and why they are natural targets for cyber criminals.
To read the complete article, please click here.
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September 18, 2009
BDO Consulting Top Noninvestment Bank
For the first time, BDO Consulting has taken the top spot in the Bankruptcy League Tables among noninvestment banks. With 642 active bankruptcy cases, BDO has 50 more cases than the second ranking firm.
In an article on TheDeal.com, author Chelsey Franks reports that according to the Administrative Office of the U.S. Courts the number of corporate bankruptcy filings in the U.S. increased 35% between June 30 and the same period last year- and no industry has been spared. Furthermore, the article points out that between the top two performers on the list, more than ninety percent of cases are in foreign countries, leading to the conclusion that, "In other words, industries and companies outside the U.S. are in really, really bad shape, too."
To read the complete article, please click here.
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September 10, 2009
Dodging Credit-Card Reform
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August 29, 2009
The Storm is here
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August 26, 2009
American Express Walks a Tightrope
Managing Director, Gene Truono, was quoted in Crain's New York Business. This article focuses on American Express and small business in New York in regards to credit lines and how American Express is trying to reign in their risk and loss rates.
To read the complete article, please click here.
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August 19, 2009
Regulations aimed at making credit card policies clearer may reveal higher fees, rates
The rules your credit card company operates by will start getting much clearer on Thursday. But just because you'll know what they're up to doesn't mean you're going to like what you learn. BDO Consulting Managing Director Gene Truono is quoted in the Associate Press on the Credit Card Accountability Responsibility and Disclosure (CARD) Act.
To read the complete article, please click here.
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August 11, 2009
Card Users, Take Heart: One Penalty is Vanishing
The penalty imposed on American Express and Discover consumers who exceeded their spending limit, has finally died. BDO Consulting Managing Director, Gene Truono, comments in a recent New York Times articles on the new legislation signed by President Obama in May aimed at easing fees for cardholders.
To read the complete article, please click here.
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August 7, 2009
Lehman, Chrysler, GM: The fallout
BDO Consulting Managing Director, Jack Williams, comments on the Lehman, Chrysler and General Motors bankruptcy cases and quickly they moved in response to attorneys who say that creditors didn't have enough time to prepare their arguments.
To read the complete article, please click here.
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August 5, 2009
Banks Get Picky in Doling Out Credit Cards
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July 15, 2009
World Turned Upside Down
The economy has weakened most companies, but it has strengthened the hand of one group: creditors.
Marginalized somewhat the past few years, banks are once again imposing stiff covenants and pricing risk profitably.
In the May 2009 issue of CFO, Bill Lenhart, National Director of the Business Restructuring practice and President
of BDO Consulting Corporate Advisors discusses the new zone of insolvency in Word Turned Upside Down.
To read the complete article, please click here.
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July 10, 2009
Gaps in Obama's Consumer Financial Protection
As proposed by the administration, the Consumer Financial Protection Agency will regulate all providers
of consumer financial products, covering mortgages and credit cards to payday lending and overdraft services
with the exception of products regulated by the Securities and Exchange Commission. BDO Consulting's Managing
Director, Gene Truono, comments on the Consumer Financial Protection Agency in the July 10, 2009 MarketWatch.
To read the complete article, please click here.
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July 9, 2009
Waiting for the Other Shoe to Drop, Compliance Pros Can Take Steps to Limit Tax Evasion
In the wake of an extensive proposal forwarded by the Obama administration to stem tax
evasion, anti-money laundering compliance departments are looking again at what they can
and must do to fight the crime. BDO Consulting Managing Director, Jim Stubbs, comments
on this proposal and how it effects the Anti-Money Laundering arena.
To read the complete article, please click here.
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July 1, 2009
GM Seeks Court Approval to Become "New" Company
A recent Associated Press article on General Motors (GM) seeking court approval of its reorganization plan
features BDO Consulting’s Managing Director Jack Williams commenting on how the restructuring compares with
rival Chrysler's. In the article, Mr. Williams predicted that despite its larger size, GM's case will go much
more smoothly than Chrysler's. "GM's got momentum, government financing and lots of people that would like to
see this happen," he said. "Whether they think it's a good deal, or a great deal, or not, most people have bought
into the result."
To read the complete article, please click here.
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June 11, 2009
Without Better Use of Narratives, SARs Fail to Show Extent of Mortgage Fraud
In an article published on MoneyLaundering.com, BDO Consulting’s Managing Director Jim Stubbs comments on the
design of the federally mandated suspicious activity reports and the flaws which make it difficult for banks to
report suspected mortgage fraud. Part of the problem is that a lot of the documentation is contained in free-form
fields,” said Mr. Stubbs. Because the information isn’t divided into separate data fields, filers aren’t prompted
to consistently provide some information, making it harder for investigators to connect the dots in a case, he said.
To read the complete article, please click here.
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June 1, 2009
Managing Director Jack Williams on CNBC’s Closing Bell
GM: The Road Ahead
BDO Consulting’s Managing Director Jack Williams appeared on CNBC’s Closing Bell on Monday, June 1st, to
offer his Iinsight on what a new General Motors will look like and its restructuring plans with international
stakeholders that include the United States and Canadian governments. Mr. Williams provided insight into the
process, saying in part that "the number of balls in the air raises the level of complexity" and that it could
be "quite some time [before the company can remove bad assets through the bankruptcy process]...we would not
expect it anytime soon. A one to two year prognosis is probably the best view of the administration of the
old assets."
To view the complete segment, please
click here.
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May 22, 2009
Obama Signs Credit-Card Consumers' 'Bill of Rights'
President Obama recently signed the credit card consumers' "Bill of Rights," saying that the legislation
will limit fees, curbs contract changes and give Americans "the strong and reliable protections they deserve."
In this Bloomberg.com article, BDO Consulting’s Managing Director Gene Truono comments on the possible outcomes
of this act and how it will affect credit rates.
To read the complete article, please click here.
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May 21, 2009
Why ERM Makes Sense Now
Enterprise risk management (ERM) programs have recently been identified as one of the best ways for organizations
to be prepared for the potentially massive U.S. regulatory overhaul. BDO Consulting’s Partner Glenn Pomerantz and
Managing Director Sydney Rose Leo address this topic and identify several other motivations for implementing a
formal ERM program, in this post on the Business Finance blog.
To read the complete article, please click here.
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May 21, 2009
Credit Reform’s Downside
The New Credit Card Fees and Interest Rates that Could Throw You for a Loop
BDO Consulting’s Managing Director, Gene Truono, comments on the Credit Card Reform Act recently
passed by Congress and weighs in on possible side effects of the act in the May 21st edition of New York Metro.
To read the complete article, please click here.
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May 19, 2009
Credit Crunching
Four ways consumers could take a hit from new card rules
BDO Consulting’s Managing Director Gene Truono discusses new federal legislation that will curb credit
card practices decried by some as predatory and anti-consumer. But the credit card industry is warning
that new rules could backfire on consumers in a number of ways. Mr. Truono offers his insight on four
areas where observers think consumers and their credit cards may take a hit due to the new rules.
To read the complete article, please click here.
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