Turnaround Management Conference:
Leading Corporate Renewal

Conference Date:
April 25, 2007

Panel Information

Warning Signs of Economic Challenge

Synopsis: There are typically many warning signs of financial distress. This panel will explore these signs and how managers and professionals can identify symptoms early enough to make a positive change. The panel will also explore the short and long term economic outlook for turnarounds and restructurings.

Moderator: Professor William Sutter

Panelists:

• David Weiner, Seyfarth Shaw LLP
• Thomas Allison, Mesirow Financial Consulting
• Paul Bray, Alvarez & Marsal
• Dan Dooley, MorrisAnderson & Associates, Ltd.

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Buying a Distressed Business

Synopsis: Buying an underperforming business can often times be a great way to create value for a business or entrepreneur. This panel will explore the kinds of things buyers look for when evaluating a potential investment in a distressed business. The panel will also explore the valuation techniques for these types of investments as well as the risks and rewards associated with this strategy.

Moderator: Professor Steven Rogers

Panelists:

• Suzanne Saxman, Seyfarth Shaw LLP
• Dean Anderson, American Capital Strategies
• Thomas Begel, TMB Industries
• Andy Chidester, Duff & Phelps LLC
• Jeff Bell, Concordant Industries

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Skills of Corporate Renewal

Synopsis: Navigating the waters of distress can be a challenging experience for company managers and turnaround professionals. This panel will explore the secrets of a successful turnaround and the necessary skills for managers to achieve a positive result.

Moderator: Professor Walter Scott

Panelists:

• Doug Yakola, ATA Airlines, Inc.
• Sheila Smith, Deloitte Financial Advisory Services
• Tom Evans, Huron Consulting Group
• Judith Sprieser, Transora, Inc.

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Financing Through Trouble

Synopsis: Access to capital can play a significant role in any turnaround situation. This panel will explore the types of capital that are typically available to companies in distress and how the different components of the capital structure interact during a turnaround. Recapitalization can often influence a company’s ability to buy more time for a turnaround.

Moderator: Professor Timothy Thompson

Panelists:

• Nils Larsen, Equity Group Investments
• David Shapiro, LaSalle Bank
• Penny Friedman, CIT Corporate Finance
• Matt Neiman, Cerberus Capital
• Lloyd Sprung, Miller Buckfire & Co., LLC

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Spin Control: Communication and Information Management

Synopsis: Perception is reality in any crisis situation. Communications to the press, employees, vendors, and other company constituents can play a critical role in how the company’s turnaround efforts are perceived. This panel will explore how companies in crisis manage the dissemination of information to their constituents as well as what types of messages are critical to convey.

Moderator: Professor David Austin-Smith

Panelists:

• Karen Healy, Delphi Corporation
• Jeff Cohen, Houston Chronicle
• Brenda Adrian, Sittrick & Company
• Michael Claes, Burson-Marsteller

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Paying for Protection: Costs and Benefits of Bankruptcy

Synopsis: For many companies in distress, bankruptcy is a viable option to help a company gain a fresh start. This panel will explore the potential role of bankruptcy in a turnaround. The panel will also evaluate the different costs and benefits of the bankruptcy process.

Moderator: Professor Craig Bradley

Panelists:

• David Christian, Seyfarth Shaw LLP
• Paul Harner, Paul Hastings Janofsky & Walker LLP
• James Mesterharm, Alix Partners LLP
• David Phelps, Bridge Associates LLC

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