Rochester, N.Y., Feb. 5, 2009: The Upstate New York Chapter of the Turnaround Management Association (TMA) and Greater Rochester Enterprise (GRE) are teaming up to host Rochester's first-ever Business Restructuring Symposium.
The Business Restructuring Symposium will help local businesses assess their current financial situation and various strategies that may help the businesses survive and continue to grow in this challenging economy. The Symposium will also review what lenders are considering when making lending decisions in the current credit market, as well as options for out-of-court restructuring and restructuring under bankruptcy.
"In the current market, companies need the tools to realistically assess their financial strength and should understand the various options available to them so that they are prepared for any financial challenges they may face," said Gregory J. Mascitti President of the Upstate Chapter of the Turnaround Management Association and Financial Restructuring Partner at Nixon Peabody. "TMA members are experts at restructuring, repositioning and reinvigorating companies, and we think sharing information in this forum is the best way to reach as many companies as possible," added Mascitti.
The Business Restructuring Symposium will present resources, business strategies and planning tools that will help Rochester companies focus on continued growth and success in the current market conditions. Experts from M&T Bank, Amerisource Funding, JC Jones & Associates, Bonadio Group, Dopkins & Company, and Nixon Peabody LLP will cover four key areas:
- How to prepare and evaluate the company's current cash flow situation using a 13 week cash flow analysis;
- The short-term and long-term steps the company may take to overcome any cash flow issues;
- What lenders are looking for in the current credit market, the availability of financing, and the best ways to approach lenders for financing; and
- The options that are available for restructuring the company, including refinancing, out-of-court restructuring, and restructuring under the Bankruptcy Code.
"We are partnering with TMA to host this Symposium to give local companies all the resources they might need to best manage their companies in the current economic and business climate," said Interim GRE President Mark Peterson. "With perhaps a few shifts in management approach, companies can dramatically improve their opportunities for success."
The Business Restructuring Symposium sponsored by the Turnaround Management Association and Greater Rochester Enterprise will be held Wednesday, March 4, 2009, from 8 a.m. until 1 p.m. The Symposium will be hosted at Nixon Peabody, which is located on the 14th floor of the Clinton Square Building, 1100 Clinton Square, Rochester, NY 14604. Attendees can register online by visiting https://www.turnaround.org/Events/Register.aspx?objectId=10531. Registration is $50 per person and includes lunch.
About Turnaround Management Association:
The Turnaround Management Association (www.turnaround.org) is the only international nonprofit association dedicated to corporate renewal and turnaround management. It celebrates its 20th anniversary in 2008 and the turnaround management, restructuring and distressed investing industry that TMA helped develop and define. Established in 1988, TMA has more than 8,300 members in 43 chapters, including 31 in North America. TMA members are a professional community of turnaround and corporate renewal professionals who share a common interest in strengthening the economy through the restoration of corporate value.
About Greater Rochester Enterprise:
Greater Rochester Enterprise (GRE) is a public-private partnership that professionally markets the Rochester, N.Y., Region as a competitive, high-profile place for business location and growth. It supports business attraction and expansion, along with entrepreneurship and innovation. GRE collaborates with businesses, universities, not-for-profit organizations and government unifying regional economic development activities. For more information: www.RochesterBiz.com.