Download Power Point Presentation

L E A D E R S H I P P R O B L E M SO L V I N G V A L U E C R E A T I O N

© Copyright 2009. Alvarez & Marsal Holdings, LLC. All Rights Reserved.

Presentation to theCommission on Streamlining Government

State of Louisiana

August 18, 2009

Crisis Management and Operational Restructuring

Sandra Crayton, Managing DirectorBill Roberti, Managing Director


Presentation Overview

I. The Case for Restructuring

II. State of Louisiana Case Studies

III. Alvarez & Marsal Capabilities

IV. Appendices:

• Presenter Biographies

• Alvarez & Marsal Firm Overview

• Representative Client Case Studies

• Representative Client List

2


Like all states, Louisiana is challenged to meet significant budget crises given the economic conditions. The 2010-11 budget reflects aggressive cuts to address the loss of $1.3 billion in the tax base. The hardship of the current economy is evident in decreased tax revenues and reflecting the negative financial situations faced by citizens and businesses .

Engaging a partner with experience restructuring organizations comparable in complexity and scale provides the State with executive guidance and operational leadership. A&M believes the scope of the restructuring includes:

Provide restructuring leadership at a critical juncture where Louisiana faces internal and external challenges and financial and operational issues

Rapidly build a robust fact base to include:

Near-term opportunities to improve its operational and financial state

Financial analysis that describes the alignment between statutory requirements, costs and revenues

Near-term operational and financial prospects

Formulate a comprehensive program of Restructuring Initiatives that includes:

Assessment of costs associated with delivering statutory requirements (evaluating operating, fixed, personnel and capital costs)

Assessment of scope and size of government

Detailed plans to optimize customer service to citizens improving efficiency and effectiveness

Timing, resources and anticipated impact of plan

Overlay the identified Restructuring Initiatives into State strategic plans and legislative authority to create a revised strategy

Work closely with management and stakeholders to best address non-core operations and execute the strategic and operational plan

A&M’s experience restructuring commercial and public sector organizations provides us with the vision of how to address crisis situations, drive change, and realize

unprecedented value to leadership and the public.

Streamlining Government – A Platform for Change

3



The Current Economic Crisis Presents Significant Challenges and Limited Opportunities for States

4

0%

5%

-5%

THE CONTINUED DETERIORATION IN THE ECONOMY

IS SEVERELY IMPACTING LOUISIANA‘S REVENUE BASE

GDP

FEDERAL STIMULUS FUNDING OFFSETS NEEDS FOR

MORE DRAMATIC ACTIONS IN THE SHORT TERM WITH FUNDING PRIMARILY AVAILABLE TO

SUPPORT 2009-2011 SOURCE: RECOVERY.GOV

Source : Center on Budget and Policy Priorities


Announced Made Available Paid Out as of Aug 2009

Total Funding $3,328,973 $2,261,756 $555,561

Education $1,284,692 $840,056 $25,806

HHS $592,811 $577,761 $391,918

Transportation $498,680 $294,834 $2,717

Fiscal Year Budget Gap Percentage of

current general fund

2008-2009 $341 million 3.7%

2009-2010 $2.0 billion 21.7%


Louisiana Has Responded Aggressively

5

NEGATIVE FUNDING IMPACTS ON THE STATE BUDGET

LOUISIANA HAS TAKEN AGGRESSIVE ACTION TO BALANCE THE BUDGET

….

1. Eliminated more than 1,300 positions from state government in this budget, bringing the total number of full-time positions eliminated to more than 3,300 since January 2008.

2. Decreased total spending by around $700 million

3. Consolidating school and health services

4. Established the Committee on Streamlining Government


UNEMPLOYMENT RATES JUNE 2008 – 2009

Source: Louisiana Budget Project. And Gov’s Executive Budgets


REVENUE

$

COSTS

$

STATUTORY REQUIREMENTS

Louisiana’s Challenges Cannot Be Solved Through Disconnected Analysis

6

ECONOMIC DEVELOPMENT

PROGRAMS AND DEPARTMENTS

TAX BASE

SERVICES

FEDERAL

FUNDING


ORG STRUCTURE


ACCURATELY CORRELATING THE COST AND REVENUE DRIVERS PROVIDES A FACT BASE TO IDENTIFY AND JUSTIFY

SIGNIFICANT CHANGE AND OPPORTUNITIES FOR GROWTH

ACCURATELY CORRELATING THE COST AND REVENUE DRIVERS PROVIDES A FACT BASE TO IDENTIFY AND JUSTIFY

SIGNIFICANT CHANGE AND OPPORTUNITIES FOR GROWTH

ORG STRUCTURE

STATUTORYREQUIREMENTS

ECONOMIC DEVELOPMENT

PROGRAMS AND DEPARTMENTS

REVENUE$

COSTS

$

TAX BASE

SERVICES

FEDERAL FUNDING

A Restructuring Approach Is Holistic

7

A&M TRACESTHE FINANCIALS FROM PROGRAMS

AND DEPARTMENTS

A&M TRACES ALL COSTS AND REVENUE SOURCES

Louisiana’s fundamental challenges and solutions can only be identified by understanding the interdependence between cost drivers, revenue streams, and the other core elements


Overview of A&M’s Approach

8


Phase I Phase II Phase III Phase IV

Timing 1 month 2 months 6 months Quarterly Monitoring

PRIMARY GOALS:

Create stability for struggling programs and services, identify short term revenue maximization, and identify high priority initiatives

Develop restructuring plan Prioritization and execution of

key initiatives

Finalize restructuring plan meeting approval of key constituents

Create a stable financial position and assure realization of the benefits of key initiatives

KEY ACTIONS AND DELIVERABLES:

Comprehensive communication plan for key constituents

Assess the revenue generating power locked into the current budget and within programs

Identify immediate cost savings opportunities

Review span of control and authority across government entities

Create integrated State level sash flow forecasts

Deeper review of financial inflows and outflows; day to day budget management

Begin execution of longer range cost savings initiatives

- Plan significant changes in government organization

- Realign budget Internal control assessment Assess growth opportunities Evaluate all affiliation /

partnership opportunities to drive economic growth

Evaluation of pension funding Develop understanding of

stakeholder needs

Revenue assessment / cash flow maximization

Program level assessments Detailed assessment of

government structure and authorities

Continued execution of high value cost savings initiatives

Evaluation of overall capital needs relative to each Program and Department .

Identification of new funding opportunities including real estate and business development

Continued execution of high value cost savings initiatives

Continuous process improvement

Change management through government consolidation

Refocus development efforts Develop and execute on

enhanced foundation strategy Real estate value

enhancement strategies

Ongoing Communication

Finalize Options and Restructuring Plan

Initiatives

Select, Lead and Restructure

Monitor, Reevaluate and Operate

Assess, Evaluate and Communicate

I. The Case for Restructuring. The Case for RestructuringI. The Case for Restructuring


Tailored Approach to Transition ManagementI. The Case for Restructuring

Clients rely upon

A&M in times of

transition to

provide reliable

stability,

leadership, and

plan execution that

provides a

foundation for

sustainable long-

term solutions.

All of the above steps provide the platform for A&M to…

…Support , Guide, and Execute…this is our differentiating factor Execute transition and restructuring plans

Provide calm and measured responses to transition challenges

Promote Transparency and Accountability

Build the foundation for the future

Transition our leadership effectively to permanent leadership

Understanding Opportunities and Challenges

Bring Stability

Conduct Needs Assessment

Assess Which Needs that can be Legitimately Addressed

Clearly Define Expected Outcomes

Conduct a Thorough Financial Analysis

Create a Baseline of Anticipated Financial Flexibility

Support and Guide

Calming Influence

Promote Transparency and Accountability

Collaborate and Listen

Conduct Interviews to Discover Where Political Power and Authority for Decision Making Resides

Identify and Help Determine Priorities

Plan and Partner

Partner with Organization and Industry Experts to Develop Strategies

Develop Alternatives by Identifying Core and Non-Core Functions

Build Consensus

Present Factual Information

Facilitate Dialogue

Engage Constituents

Develop Communication Strategy

9

© Copyright 2008. Alvarez & Marsal Holdings, LLC. All Rights Reserved. 10

New Orleans Public Schools

Background

In June 2005, the Public Sector group of A&M was engaged to restructure the financial and administrative operations of the 117 schools in the New Orleans Public Schools system. After Hurricane Katrina, imperatives changed, from making sure that teachers, administrators and staff were paid, to preparing and submitting insurance claims on a timely basis, and, most importantly, addressing the future educational needs of New Orleans children in the wake of unimaginable destruction of school property and buildings.

A&M Role

A&M served many interim management positions including CRO, COO and CFO

Outcomes

Pre-Katrina, A&M set up a system to verify employment of every NOPS employee and coordinated the staffing of schools. They made sure books and other supplies were in classrooms. They coordinated 179 bus routes across the city, worked with maintenance vendors to ensure repairs were made and schools were clean

Following Katrina, A&M went from financial managers to crisis managers.

A&M Real Estate Advisory Services and A&M Dispute Analysis & Forensic Services led the way in working with the Federal Emergency Management Agency (FEMA) to assess the damage, school-by-school and get buildings into condition to be opened and occupied.

Through the firm’s oversight, the district was able to avoid defaulting on $279 million in bond debt, allowing time to receive financial assistance from the federal government.

Alvarez & Marsal’s IT staff set up a new IT system for all of NOPS

New Orleans Public Schools

Public Sector



LSU Interim Medical Center

Background

A&M engaged to provide services of Chief Management Officer (Sandra Crayton ) and to conduct a 45 day Assessment of Interim LSU Public Hospital’s (“Hospital”) finances and operations.

A&M team conducted reviews of the Hospital’s overall financial status, including: salaries and benefits and workforce productivity.

A&M team conducted reviews of several different areas of operations, including: workforce productivity, materials management, and graduate medical education.

A&M team conducted reviews of three service lines of the Hospital: Nursing Services, Peri-Operative Services, and Outpatient Clinic Services.

Outcomes

Recommendations presented focused on identifying quick, impactful savings opportunities, growth initiatives and revenue cycle improvement.

Initiatives as implemented will have an impact on every department in the Hospital and therefore require a commitment from Administrative leadership, Department Directors, medical staff and employees to implement.

LSU Interim Medical Center

Health Industries Group



Alvarez & Marsal Capabilities

Alvarez & Marsal has three major service lines along with dedicated industry expertise to help meet the broad needs of our clients.

Drawing on its strong operational heritage and pragmatic hands-on approach, A&M works closely with organizations and their stakeholders as financial and operating advisors or interim managers to help navigate complex business issues and boost performance

12

Representative A&M Industry Expertise

A&M Service Lines

Performance Improvement Corporate Restructuring Business Advisory Services

Operational Efficiency Business Consulting Technology Asset

Management Interim Management

Turnaround Advisory Crisis Management Creditor Advisory Claims Management Risk Management Advisory Corporate Finance

Transaction Advisory Tax Advisory Dispute Analysis & Forensics M&A and Financing

III. Alvarez & Marsal Firm Capabilities


Appendices

I. Presenter Biographers

II. Alvarez and Marsal Firm Overview

III. Representative Client Experience

IV. Representative Client List


Presenter Biographies

Sandra Crayton

Sandra is a Managing Director with Alvarez & Marsal's Healthcare Industry Group. She brings substantial experience managing all aspects of large, complex, multi-site organizations and a proven record of achieving results. Since 1985, Ms. Crayton has held Chief Executive Officer or Chief Operating Officer positions in academic medical centers, including the University of Chicago Hospitals, acute care hospitals, physician practice management, and home health companies. She has led organizations with as many as 650 beds, 6,000 employees, revenues of $750 million, and operating budgets in excess of $400 million. Since January 2009, Ms. Crayton has served as Chief Management Officer of the Interim LSU Public Hospital. In the first three months of the engagement, Ms. Crayton lead a team of consultants that identified $66 million in cost reductions at the Hospital.

Contact: [email protected], (404) 610-1121

Bill Roberti

Bill leads Alvarez & Marsal’s Public Sector Services Group and has translated private sector and military leadership gained as serving as CEO of Brooks Brothers and as a Army Reserve Colonel to leading change for public sector organizations. Bill drove significant change as the Chief Restructuring Officer for the St. Louis Public Schools and the New Orleans Public Schools, has restored accountability for Department of Education’s funding to the US Virgin Islands and is currently supporting driving financial stability for the Detroit Public Schools. He continues to work with philanthropic organizations committed to public sector revitalization including the Broad Foundation.

Contact: [email protected], (203) 400-1623

Appendices

14


Firm Overview

For 25 years, Alvarez & Marsal has set the standard for working with organizations to tackle complex business issues, boost operating performance and maximize stakeholder value.

As a leading, independent global professional services firm, Alvarez & Marsal (A&M):

Has been owner-operated and privately held since inception

Puts the needs of businesses and their investors first – without competing interests and free of audit-based conflicts

A&M Approach

Clients have trusted A&M to work with them to help solve their most important business problems. We have earned this trust by:

Giving every problem the utmost senior-level attention

Researching and understanding the facts before drawing conclusions

A steadfast commitment to objectivity, quality and integrity

Demonstrating time and again that leadership makes all the difference

As corporate advisers or in interim leadership and management roles, A&M employs a hands-on approach to solving problems and creating value – with a bias toward action and delivering results.

At Alvarez & Marsal, we:

Hold ourselves accountable to delivering results

Provide leadership by rolling up our sleeves and get the job done

Believe in the importance of collaboration with our clients and their constituencies

15

About A&M Founded in 1983 by co-CEOs

Tony Alvarez II and Bryan Marsal 1,600+ professionals 38 cities; 15 nations; 4 continents 200+ Managing Directors

North AmericaNew York (Global HQ)AtlantaBirminghamBostonCharlotteChicagoDallasDenverDetroitHoustonKansas CityLos Angeles

Europe and the Middle EastLondon (Europe HQ)AmsterdamCairoDubaiMadridMilan

Latin America LocationSão Paulo (Latin American HQ)Bogotá

AsiaHong KongShanghai

MiamiNashvillePhiladelphiaPhoenixSan AntonioSan FranciscoSeattleTampaTorontoVienna, VAWashington, D.C.

MoscowMumbaiMunichNew DelhiParis

Alvarez & Marsal Firm Overview


A&M’s Market Differentiators

Why Alvarez & Marsal is Different:

Blend ability to make decisions with the skills to make business process and technology change

Bias toward action

Make decisions fast; willing to take informed risks

Not limited by the culture; willing to break some furniture to get the job done

Know “what success looks like” and how to model it

Set aggressive goals, execute relentlessly, measure

Pressure test team members with tactical issues to evaluate them quickly

Drive accountability in the organization—make sure people deliver on commitments or quickly find new people

Alvarez & Marsal Firm Overview


Representative Experience

Background

Lehman Brothers Holdings Inc. filed under Chapter 11 on September 15, 2008. Alvarez & Marsal was hired at 10:30 p.m. on September 14, 2008, just hours before Lehman Brothers filed for the largest bankruptcy in U.S. history, and began work that same week.

At bankruptcy, Lehman Brothers listed $613 billion in debts and $639 in assets.

Bryan Marsal, A&M’s Co-CEO, was designated as the Chief Restructuring Officer. On December 31, 2008, he assumed the role of CEO, supported by a large A&M staff (with nearly 200 FTEs), including senior professionals from the various divisions across the firm.

A&M is currently working to maximize the recovery value of assets to LBHI creditors, and minimize claims.

A&M’s main strategy is to:– Preserve, capture and store key data in order to reconstruct transactions and events.– Address immediate fire sales impacting asset values and claims.– Identify and retain teams to work the problem.– Determine pre-bankruptcy events giving rise to causes of action or mitigation of claims.

Outcomes-Ongoing

Since A&M was assigned to the case in September 2008, an orderly wind-down has been in effect.

The Lehman Estate has also provided job security for about 560 financial professionals (approximately 200 FTEs from A&M, 130 retained from Lehman and 230 recruited primarily from former Lehman and other marquee name firms).

Representative Client Case Studies

Lehman Brothers

Turnaround Consulting / Crisis

Management

17


Background

Nation’s largest commercial provider of outpatient surgery, diagnostic testing and rehabilitation services

More than 46,000 medical and business professionals in nearly 1,700 locations throughout the US

The System was the victim of a massive accounting fraud conducted by a small group of senior management

HealthSouth, a publicly traded company, faced FBI and SEC investigations alleging multiple frauds committed by the CEO

HealthSouth terminated the CEO and CFO and a number of senior executives and the financial team also left the company prior to A&M’s engagement

A&M was hired as restructuring advisors and crisis managers by the Company

Outcomes

A&M’s strategy helped the Company avoid bankruptcy

Coordinated multiple concurrent Federal investigations while simultaneously working to stabilize operations, lease renegotiations, asset sales and other transactions

Slashed $250 million in capital expenditures and cut 24% of corporate staff resulting in savings of $125 million.

A&M’s Immediate Action Plan improved liquidity position ($345 million)

Equity value at time of retention was approximately 15¢ per share; value was over $5.00 per share when A&M completed assignment in June 2004; all paid holders and creditors.

Planned and implemented an unprecedented refinancing of the capital structure in partnership with Credit Suisse First Boston


18

HealthSouth

Crisis and Turnaround Management



Background

Saint Vincent Catholic Medical Centers, a distressed health system in New York City, filed for bankruptcy in July 2005.

SVCMC, a $1.5 billion not-for-profit hospital system, consisted of five acute care facilities, a home health agency, a comprehensive behavioral health business and several nursing homes.

With losses of nearly $10 million per month, the hospital system had major underfunded pension obligations of more than $75 million, an estimated $190 million in trade liabilities, and between $80 million and $115 million in trailing medical malpractice liabilities.

Management was dysfunctional; there was distrust among and poor communication with all constituencies including unions, creditors, banks, state agencies, physicians.

A&M was hired as restructuring advisors

Outcomes

Working closely with hospital executives, and union and community leaders, A&M quickly stabilized cash flow, increased liquidity, maintained operations, implemented quality controls, overhauled management and governance structures, outsourced information technology functions and third-party revenue cycle collection contracts, and stabilized union relationships.

A&M professionals spearheaded the closure and sale of four money-losing facilities in Brooklyn, Queens and Staten Island, generating new liquidity and reducing middle management costs.

Within just 20 months after entering Chapter 11, and only 14 months after hiring A&M, SVCMC filed a consensual plan of reorganization, improved annual cash flow by more than $100 million dollars, achieved positive monthly cash flow of approximately $3 million and was on track to achieve EBITDA of more than $60 million.

SVCMC emerged from bankruptcy in September 2007, as a smaller, leaner organization with a revitalized balance sheet and a long-term vision focused around a new state-of-the-art hospital.


19

Saint Vincent Catholic Medical Centers

(SVCMC)

Turnaround and Restructuring



Background

A&M led the re-designing of a budget that exceeded $14 billion in support of a system that serves approximately 1.2 million children in 2005.

A&M was engaged by the New York City Public Schools, the largest public school district in the country, to restructure and redesign a centrally mandated, top-down, supply-driven organization to a bottoms-up, demand driven school-based organization

A&M personnel served in the following roles: Chancellor’s Chief Advisor on Restructuring, Chief Restructuring Officer (“CRO”) for Finance, CRO for the Office of School Support Services, CRO of Office of Pupil Transportation, Special Education CRO for Empowerment Schools .

Outcomes

By August of 2006, approximately 25% of the system’s 1,400+ schools had been moved into a leaner, more customer-focused empowerment structure, over $89M in costs savings had been realized and devolved directly to schools and their support structure. Other results included:

A fully functioning, on-line internal market for services where the bureaucracy would offer for sale services to schools to purchase including professional development, coaching, etc.

A redesigned special education support structure complete with new roles, responsibilities, process maps, training and monitoring capabilities of key metrics for this population of children representing approximately 18% of the total student population and in excess of $3B+ in spend

A redesigned Office of Youth Development complete with a call center, crisis response teams and content experts to serve “at-risk” kids struggling with issues of attendance, substance abuse, drop-outs and under-credited and overage characteristics

Innovative, data driven restructuring initiatives in non-academic operations designed to save up to $100M by more efficient & effective management in the areas of Transportation, Facilities (including custodial, energy conservation, repairs & maintenance) and Food Services.


20

New York City Department of

Education

Program Innovation and Cost

Management



Representative Client List

Public Sector Alabama Department of TransportationAlgiers Charter School AssociationCalifornia Department of Motor VehiclesChicago Transit AuthorityCity of Aspen, COCity of PhiladelphiaCity of Olathe, KSDetroit Public SchoolsFairfax County, VAIndiana Department of Education Kansas City Board of Public UtilitiesLegal Aid Society of New YorkMaricopa County Community College

DistrictNew Orleans Public SchoolsNew York Department of EducationLouisiana State UniversityMaryland General HospitalProvidence Public SchoolsSt. Louis Public SchoolsSt. Vincent’s Catholic Medical CentersSouth Coast Water District, CAUniversity of Texas SystemU.S. Virgin IslandsU.S. Department of DefenseU.S. Department of Housing and Urban

DevelopmentU.S. Department of the NavyU.S. Department of the Air ForceUniversity of Southern California Keck

School of MedicineWashington DC Planning and Economic

DevelopmentWashington, DC Public Schools

Transportation Amerco (U-Haul)ANC RentalConcordia Bus Nordic ABConsolidated Freightways, Inc.Envirotainer ABExpressJet Airlines Fairchild Dornier GmbHSIRVA, Inc.US AirwaysVecTour, Inc.Viking FreightWabash National Corp.

Oil, Gas and Natural Resources Amerada HessAdvanced Chemicals, Inc.BP ChemicalsCedar Chemicals, Inc.GEO Specialty Chemicals, Inc.Halliburton Energy Services GroupHorizon Natural Resources, Inc.OMNOVA Solutions, Inc.Murray EnergyPioneer CompaniesPolymer Group, Inc.Sterling Affiliates, Inc.TesoroValero EnergyYukos Oil Company

Power and Utilities British EnergyEOTT Energy Partners, LPGearhart Industries, Inc.Light Servicos de Electricidade SANational Energy & Gas Transmission, Inc.Pacific Gas & Electric CompanyPetrolane, Inc.Pioneer ElectricRaymond InternationalReliant EnergySuez EnergyWestern Company of N.A.

Financial Institutions American Business Financial ServicesAuto Finance Company, LLCBabcock & BrownDVI, Inc.GE Commercial FinanceHouston Casualty CompanyIntegrated ResourcesLehman BrothersMetropolitan Mortgage & Securities Co., Inc.National Century Financial Enterprises, Inc.New Century MortgageRisk Management Alternatives, Inc.The Rockefeller GroupWachovia SecuritiesWashington Mutual

Healthcare Aveta, Inc.Affiliated Medical EnterprisesAllegheny Health, Education, and Research

FoundationBradford Teaching HospitalsCharter Behavior Health System, LLCCharter Medical Corp.Grady Health SystemGlenbeigh, Inc.Healthcare International, Inc.HealthSouth Corp.Integrated Health Services, Inc.Magellan Health Services, Inc.New York United Hospital Medical CenterRepublic Health Corp. (ORDNA)Rotech, Inc.Strategic Optical Holdings, Inc. (WISE)Stryker OrthopaedicsSt. Vincent’s Medical CenterUniversity of Connecticut School of

Medicine University of Southern California / Keck

School of Medicine Valley Presbyterian Hospital Watts Health Foundation

Industrial / ManufacturingAnthony’s Manufacturing Co., Inc.APW, Ltd.Astronautics Corporation of AmericaAtchison CastingBaldwin Industrial ServicesBirmingham Steel CorporationCarbide / Graphite Group, Inc.Chatham TechnologiesDresser RandFedders CorporationFlorida SteelFruehaufGoodman ManufacturingGoodrichGoss InternationalHeartland Steel, Inc.Kaiser AluminumLong Agribusiness, LLCMoll France SARLPaper-Pak Products, Inc.SICPASLI, Inc.Treofan

A&M works with

large and middle

market companies

and public sector

entities spanning a

variety of industries,

geographies and

operating

environments.

21




Media and EntertainmentAladdin Gaming Company, LPDoubleClickMovie Gallery, Inc.Panini SpAPBI MediaPresident Riverboat CasinoResorts International, Inc.Trump CasinosVail Resorts, Inc.Vertis CommunicationsWestar Hotels

ApparelCluett AmericanDan River, Inc.Donnkenny ApparelEddie BauerGaley & Lord, Inc.Kasper A.S.L., Ltd.Lejaby S.A.Levi Strauss & Co.London Fog IndustriesThe Gitano Group, Inc.The Spiegel GroupThe Warnaco Group, Inc.Tropical Sportwear International, Corp.

Professional ServicesAltheimer & GrayArthur Andersen, LLPJenkens & GilchristThomas Havey, LLP

Education / PublishingJostens LearningPhillips Colleges, Inc.Scholastic, Inc.University of Chicago PressWestern Publishing

Private EquityApax PartnersBank of America Capital PartnersBerkshire PartnersCatterton PartnersCerberus Capital ManagementClayton, Dubliner, & RiceFenway Partners

Private Equity (cont.)First Reserve CorporationGreenbriar Equity GroupGTCR Goldner Rauner LLCHarvest PartnersHIG CapitalKRG CapitalNorth Castle PartnersPegasus Capital AdvisorsSun Capital PartnersTennenbaum Capital PartnersTexas Pacific GroupVestar Capital PartnersWellspring Capital Management

RetailAutoZoneAmes Department Stores, Inc.Burger King CorporationCamelot Music, Inc.Color Tile, Inc.Crescent JewelersDrug Emporium, Inc.E-Z Mart StoresFedco, Inc.Handy Andy Home Improvement CentersIhr Platz GmbHKleinert’s, Inc./buster BrownNordstromPhar-Mor, Inc.S&K Famous Brands, Inc.Snyder’s Drug Stores, inc.Wherehouse Entertainment, Inc.

Homebuilding and ConstructionJ.A. JonesKBRKimball Hill HomesOakwood Homes CorporationTechnical Olympic USA, Inc.US ConcreteWoodside HomesZachary Construction

TechnologyAdelphia CommunicationsApplied Graphics Technologies, IncBMC SoftwareBridge Information Systems, Inc.DLT Solutions

Technology (cont.)Epoch NetworksExodus Communications, Inc.Genuity, Inc.iSoftJDS Uniphase CorporationJippi Group OyjLG PhillipsON Semiconductor CorporationPhysician Computer NetworksUnidigital, Inc.Vitesse Semiconductors

TelecommunicationsAffinity Internet Holdings, PLCAT&T Latin AmericaComCorp Broadcasting, Inc.e-spire Communications, Inc.Global Telesystems, Inc.Globix Corp.Infonet Services Corp.Innovative Communication CorporationInternational Fibercom, Inc.Irdium, LLCKPNQwestIusacell Latin AmericaMicrocell, Inc.MicrosoftTelegroup, Inc.Ventelo GroupWestern Union Corp.Winstar Communications, Inc.

Consumer Products and ServicesAmerican Italian Pasta CompanyAnchor GlassApplicaBrake Bros. PlcBurger King CorporationCannondale Bicycle Corp.Chiquita BrandsFormica Corp.Interstate Bakeries, Inc.Le Petit Bistro, Inc.Leiner Health Products, Inc.MicrosoftParmalatPepsiCoSysco FoodsTimex Corp.Winn-DixieWorld Kitchen, Inc. (Corning)

A&M brings together

a diverse range of

operational and

financial skills to

solve problems,

implement solutions

and create value for

clients.

22



A&M HQ 600 Lexington Avenue6th FloorNew York, New York 10022Tel: (212) 759-4433Fax: (212) 759-5532www.alvarezandmarsal.com

Documents

Download Power Point Presentation