Insights | Blog
The Emergency Manager Law
The Emergency Manager law doesn’t need revamping. What needs to happen at the State level is to appoint Emergency Managers that actually have training and experience in crisis management. The Turnaround Management Association provides the training and testing to determine if individuals can meet the intellectual rigors of what is required to implement a successful turnaround. Candidates must also demonstrate a period of time and sample leadership assignments in the turnaround industry before they are recognized as certified turnaround professionals (CTP). It is absolutely no surprise to people in our industry that Brad Coulter, CTP (Lincoln Park) from our firm and Kevyn Orr (Detroit) from one of the leading insolvency firms who surrounded himself with an army of local CTPs implemented successful turnarounds.
The formula is really simple, hire the people with demonstrated experience and credentials, they may not always be the most politically correct choices, but if it matters, they get results.