Client:
$4M, forty+ person furniture, gift, and automotive industry component
manufacturer and wholesaler suffering from production inefficiencies
and quality problems.
Major Initiatives:
Acted as Interim CEO
Implemented lean manufacturing, Six Sigma and total quality management
concepts, techniques and tools
Managed daily "shop-floor" manufacturing operations from vendor
development through quality assurance and safety and daily administrative
functions from sales & marketing to accounting and collections
Communicated strategic vision, organizational objectives and tactical
operational plans to all stakeholders
Packaged and sold the enterprise
Outcome:
Increased sales by 40% and net income by 80% within seven months.
Reduced product lead-time by 50% and employee lost time by 80%.
Client:
$6M, sixty+ person designer, manufacturer and wholesaler of women's
fashion hats and apparel accessories, with sales sagging and an
inability to ship orders on schedule.
Major Initiatives:
Acted as Interim CEO
Introduced lean manufacturing, Six Sigma and total quality management
concepts, techniques and tools
Advised the owner on financial and strategic options for exiting
the business and communicated plan to key internal and external stakeholders
and investors
Outcome:
Increased sales by 36%, gross margins by 5% and net income by 120%
within eight months. Reduced product lead-time by 50% and increased
on-time shipments from 70% to 95% through lean manufacturing, Six
Sigma and total quality management concepts, techniques and tools.
Sold corporation to strategic buyer for a 5X book value.
Client:
A startup leasing firm was a new venture for a global manufacturer
not achieving its business plan. Revenues and profits were under plan
and expenses were over plan. Major concern was to prove the viability
of the business by showing consistent growth in new business.
Major Initiatives:
Redefined what business company was in
Eliminated tactic of requiring potential clients to pay fees to
give the Company their business.
Changed business from fee driven to receivables driven
Outcome:
New business growth went from $800K in the previous fifteen months
to $20M in the next eighteen months.
Client:
Two Canadian Aerospace subsidiaries of this Manufacturing Holding
Company were never fully integrated. After the parent company filed
for Chapter 11 in New York, the subsidiaries had declining sales
and margin.
Major Initiatives:
Acted as the Advisor to Executive Team
Initiated an immediate action plan to integrate the two entities
Developed a business plan to raise capital for an MBO
Developed an integration plan for the two sites, which include the
close-down of one site, the combination of Design, R&D,
and Engineering departments, the rationalization of product lines
and dramatic reduction in overhead
Negotiated with the banks to preserve the customers' relationship
Developed business plan was developed to attract capital providers
Outcome:
A communication plan was set and helped maintain a good working
relationship with the customers throughout the sale process. The
business plan was key to attracting a strategic buyer while the
management becomes equity partners. A dramatic savings in overhead
of $4M annually was identified and promising cross-selling opportunities
were developed.
Client:
A $30M meat packaging company was taken over by third generation
family members; losing money and tight cash flow. The management
started a cost reduction program which cut advertising, reduced
the sales force and shrink distribution channels. Sales fell further
and the company was forced to file Chapter 11.
Major Initiatives:
Acted as Interim General Manager in Chapter 11
Renegotiated raw material prices
Increased advertising
Increased the sales force
Introduced new products for the hispanic market
Corrected several environmental issues
Positioned the Company for successful Sale
Outcome:
Cash flow was improved to a positive position. Sales were increased
by 20%. The company was successfully sold and the secure lender
was paid in full.
Client:
An Audio/Video Post Production Company was running at a loss due
to several bad investments causing a severe cash shortage which
affected operations causing vendor dissatisfaction resulting in
higher prices. Shipments were late and quality was poor. The sales
department was fragmented Receivables and accounts payable were
extended.
Major Initiatives:
Acted as Interim President
Consolidated the sales organization on a national basis
hired A VP of Marketing
Closed two plants
Brought Accounts Receivable current, and reduced payables
Consolidated and renegotiated raw material purchases
Hired new management team (President, Controller and VP Marketing)
Developed operating budget with corrective action programs in production,
sales & marketing and Finance
Outcome:
The Company increased sales by 25%. Operations were profitable
in four months for the first time in three years. Costs of materials
were reduced by 20%. The financial records were updated and brought
current. The current line of credit was updated and increased by
$1 million.
Client:
A copper mining company was in a cost reduction planning mode as
a result of the continuing decline in copper prices.
Major Initiatives:
Acted as Business Advisor to Management
Installed activity based costing system to identify non-value added
activities
Developed action programs to eliminate these activities to reduce
costs
Outcome:
The Activity Based Costing System was successfully implemented
resulting in the identification of non-value activities which resulted
in projected cost reductions several million dollars on an annual
basis.
Client:
An $11M software supplier to the Call Center industry was suffering
from declining sales and erosion of installed customer base.
Major Initiatives:
Acted as Interim CEO and CMO (Chief Marketing Officer); restructured
executive team, replacing COO and President
Repositioned Company as a leading provider of modern packaged Call
Center software
Provided key product and marketing strategy and guidance
Outcome:
The restructuring reduced operating costs by 25% annually and created
the opportunity for modernizing its product lines and the sales
force.
Client:
A $50 million dollar producer of construction components was operating
at a 10% loss on sales.
Major Initiatives:
Acted as Interim Advisory staff to the COO
Developed new products & markets
Implemented processes for sales, product design and production
Outcome:
Converted bottom line to 12% pretax profit in first year.
Client:
A major apparel manufacturer defaulted on a $40 million loan and
threatened to sue its lender.
Major Initiatives:
Installed in the company as interim COO
Implemented new controls
Lowered tension between lender and borrower
Outcome:
Moved the company to a new asset based lender with better terms.
Client:
Publicly owned worldwide aviation parts Redistribution Company
with 55 employees and sales of $38 million. Operations disrupted
by SEC investigation regarding restatement of financial reports
used for IPO; banking and investor relationships in jeopardy.
Major Initiatives:
Acted as Interim COO
Stabilized banking and investor relationships
Re-established sound systems
Headed executive committee for investigation crisis control
Outcome:
Increased sales by 67%.
Client:
A former radio network CEO desired a station to own and operate.
Major Initiatives:
- Helped locate target stations and determine ideal target
- Arranged financing and performed valuation of desired acquisition
- Negotiated price and terms with largest national radio network
- Assisted in developing the projections and strategy for revamping
station in its market
- Continue as advisor through recent re-launch
Outcome:
Client acquired station for 30% of its prior (three years earlier)
acquisition price, with seller carrying back a significant portion
of price.
Client:
A producer of television commercials and motion pictures shut down
by earthquake.
Major Initiatives:
- Arranged disaster assistance loans
- Provided formal strategic planning process to redirect sales
and marketing process
- Redesigned all financial systems and instituted formal budgeting
and planning
- Provided new strategy to remove severe seasonality and cyclicality
Outcome:
Company grew by 800% in next four years and became reliably profitable.
Advisor became company CFO.
Client:
A provider of national television commercials desired meaningful
entry into internet advertising industry through creation of new division.
Major Initiatives:
- Acted as interim CFO
- Used strategic planning process to identify ideal market niche
in volatile industry
- Wrote the business plan to raise $2 million seed capital and
attract $8 million VC offer
- Negotiated all terms of financing and acted as company spokesperson.
- Negotiated global strategic marketing partnership with world’s
largest chipmaker
Outcome:
Company was selected by Intel as prime industry partner in Hollywood.
Division developed two patented web navigation tools to leapfrog competition.
Client:
A frozen foods manufacturer with enormous debt and management issues
following the passing of founder.
Major Initiatives:
- Served as CEO during initial restructuring and turnaround period
- Reduced payroll by 20% while improving manufacturing productivity
by 15%+
- Pared expenses in initial 2 months by over $350,000 while increasing
collections on key accounts by 50%
- Negotiated Increased pricing by between 12% and 25% on three
largest customers representing over 70% of annual sales
- Instituted new management systems throughout the organization
resulting in productivity and efficiency improvements in production
and administrative areas
- Attracted new, profitable customer increasing gross margin by
over $1 million annually
Outcome:
Client is in process of locating new ownership while avoiding bankruptcy
or liquidation
Client:
A computer-graphics-oriented television commercial production company
owned and operated by a creative genius who had earned a record number
of Cleos for their work, while the company was insolvent and often
unable to make payroll due to continued losses on overdone projects.
The company had no access to bank credit in any form.
Major Initiatives:
- Installed a budget management system for use on all productions
- Helped the company diversify into live action and combination
live action/graphics shoots
- Instilled a cost consciousness in the management team not previously
evident.
Outcome:
Company achieved 100% increase in revenues and record profits within
2 years. New bank borrowings helped finance the transition, including
unsecured loans for working capital purposes. |
