The City of Detroit Bankruptcy is gathering international scrutiny.  Four reporters from WEDGE magazine, a business publication in Japan, visited our offices last week to discuss how the City of Detroit incurred financial duress.  They were interested in the prolonged… Continue Reading  

There are a couple of important factors that distinguish this industry from many others in a workout situation. Two crucial areas include: • The relationship and contractual agreements between the Franchisor and Franchisee • The status and relationship with the… Continue Reading  

Fuel Jobbers are distributors of gasoline and act as the go between for the large oil companies and the ultimate customer, the gas station. On the surface, fuel jobbers appear to be very attractive loan candidates, especially for asset based… Continue Reading  

If you look closely at companies that have sustained their operations and profitability over decades, you will note many common attributes.  Among them: the ability of their owner (or management teams) to adapt to ever changing business environments, keeping themselves… Continue Reading  

A game of cat and mouse is being played on the amount of the unfunded Detroit pension liability. A higher unfunded amount means retirees will have a larger claim on the City’s assets. If the unfunded amount is greater than… Continue Reading  

As the economy shows signs of improvement, we hope that businesses continue to realize growth in revenue and profits. With increased cash flow, business managers and owners must still take care to avoid being victims of fraud – whether internal… Continue Reading  

We are receiving many questions regarding the pending financial crisis in Detroit. I thought I would address some of the issues in this week’s blog. Is Detroit going to file Chapter 9? I don’t see at this juncture how they… Continue Reading  

It has been widely reported that the commercial real estate market has rebounded and that valuations have slowly come back to their highest levels since the start of the Great Recession. Headlines have trumpeted the sale of trophy assets in… Continue Reading  

Clients with debt covenants in their loan documents should be aware that new proposed accounting guidelines for leases will require companies to put on their balance sheet all “right to use assets” with remaining lease terms greater than 12 months…. Continue Reading  

Growth in the nonprofit sector came to a screeching halt in 2008 when the economy went into recession, sending most organizations into survival mode as public and private revenue streams were challenged. For surviving organizations, the challenge now is how… Continue Reading