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James B. Shein

Conference Faculty Advisor
Clinical Professor of Management & Strategy

Welcome Address

       
 

Professor James B. Shein is Clinical Professor of Management & Strategy and also is part of Kellogg’s Larry and Carol Levy Institute for Entrepreneurial Practice. He teaches Managing Turnarounds (MGMT 934) and Entrepreneurship and New Venture Formulation (ENTR 462). Professor Shein is also counsel at McDermott, Will & Emery with primary areas of practice including corporate financial and operating restructurings, business startups and acquisitions, and fiduciary duties of officers and directors.

Previously, Professor Shein spent four years as the president and chief executive officer of R.C. Manufacturing and ten years prior to that as president and chief executive officer of Northbrook Corporation.

Professor Shein has chaired programs at the Federal Reserve Bank of Chicago on the outlook for the troubled steel, textile and plastics industries. Professor Shein conducts seminars and workshops on commercial loan structuring and workouts for the Bank Lending Institute and the Banking Law Institute. His work with corporate director led to his article, “Trying to Match SOX: Dealing with New Challenges and Risks Facing Directors,” published in The Journal of Private Equity, 2005.

A frequent lecturer and author on corporate renewal, he has been highlighted on National Public Radio programs as an authority on restructuring and downsizing. He was elected by his peers as Vice President of the Turnaround Management Association, an international organization of 7,000 turnaround, bankruptcy, and restructuring professionals, and is on the International Board of Directors.

Professor Shein graduated with an engineering degree from Purdue University and then earned an M.B.A. from Indiana University. He also holds a doctoral degree in organizational behavior from Indiana University. He later received his juris doctor degree, cum laude, from Loyola University of Chicago, where he was lead articles editor of the Law Journal.

 
 
 

Derrick Collins

Clinical Assistant Professor of Finance

Panel: Distressed Investing from the Hedge Fund and
Private Equity Perspective
s

 

Derrick Collins is a General Partner of Polestar Capital Partners, L.P., a private venture capital partnership located in Chicago, Illinois. Polestar invests primarily in early-stage to growth-stage technology companies that are controlled and/or led by minority entrepreneurs.

In addition to his graduate school teaching, Mr. Collins has lectured extensively on the topic of venture capital and investing in entrepreneurial companies, including presentations at the Credit Suisse International Business School, the National Minority Supplier Development Council's Advanced Management Education Program, and the Wall Street Journal's Black Entrepreneurship in America Conference.

Prior to joining Polestar, Mr. Collins was President of Shorebank Capital Corporation, the venture capital subsidiary of Shorebank Corporation, an Illinois bank holding company. As President of Shorebank Capital, Mr. Collins directed all operating and investment activities and has been primarily responsible for reorganizing and establishing this fund as a return-focused investment vehicle.

Prior to undertaking his Shorebank Capital responsibilities, Mr. Collins served as a Vice President in the Commercial Lending Department of South Shore Bank. During this time, he was responsible for underwriting and originating commercial loans and managed a diverse loan portfolio that contained companies in the service, retail, and manufacturing sectors. Prior to Shorebank, Mr. Collins held various engineering and management positions at the telecommunications firm, Ameritech Illinois.

Mr. Collins' current board affiliations include Adamation, Inc., BridgeStream, Inc. and National Association of Investment Companies. Mr. Collins has also served as a judge for Arthur Andersen's Best Practices Awards.

 

 

 

Barry Merkin

Clinical Professor of Entreprenuership

Panel: The First 100 Days of a Turnaround

     

 

Professor Merkin joined the Kellogg faculty in 1993 after 30 years of business experience, the most recent 10 years as Chairman and CEO of Dresher, Inc. The company progressed quickly to public ownership and a New York Stock Exchange listing and was three times named one of the "Best Small Companies in America" by both Business Week and Forbes, as determined by its three to five year growth record in sales, earnings and return on equity.

Prior to Dresher, Merkin was President and Director of Charter Communications, President and Director of Pan American Paper Bag Company and President of Procon Pump Company. Merkin has served on numerous boards, including Follett Corporation, Transmedia (NYSE), Barker Bros, Bruener Furniture, DuoDesign, All-Phase Electric and VOCA.

His professional activities have included the Young Presidents’ Organization (Chairman of the Harvard Business School Seminars, Chairman of the Washington Government Conference, Chapter Chairman), American Furniture Manufacturers Association (President and Director), . Other directorships have included the Institute of Laryngology and Voice Restoration-Harvard Medical School (Vice-Chairman), Chicago World Presidents’ Organization, American Association of Entrepreneurs, Boys Clubs, Eagle Scouts, Chicago Harvard Business School Club, Chicago Crime Commission, National Conference of Christian and Jews (Silver Plaque Award Recipient) and the Rush Presbyterian St. Lukes Cancer Institute.

Merkin teaches entrepreneurship courses in both the MBA and Executive Management Programs. He has been faculty advisor to four Kellogg teams in the MOOT CORP Business Plan Competitions; all teams were finalists and one was the World Champion. He has been the faculty adviser on Kellogg student GIM trips to China, Chile, Peru and Argentina. He has served as educational director for six World Presidents’ Institutes at Kellogg. At the Ernst & Young 2000 Entrepreneur of the Year ceremonies, he received the Entrepreneurship Supporter Award

He received an MBA from Harvard Business School and a Bachelor of Arts degree from Brown University.

   

 
 

William P. Sutter, Jr.

Adjunct Professor of Finance

Panel: Choosing and Retaining
the Right Management Team

   

 

Professor Bill Sutter is Adjunct Associate Professor with the Larry and Carol Levy Institute for Entrepreneurial Practice at the Kellogg School of Management. Prof. Sutter teaches “The Human Element of Private Equity.” He is the Managing Partner of Hopewell Ventures, a $110 million private equity and venture capital fund with an investment focus on high-growth companies located in the Midwest. He is currently the Chairman of the Board of Regent Communications, a publicly-traded radio broadcaster, as well as a Director of several private companies. He also serves as an advisor to SB Partners, a private equity fund that concentrates on minority or woman-managed businesses.

Before becoming a co-founder of Hopewell in 2001, he was a Senior Managing Director of Mesirow Financial’s Private Equity Investments division. During his 17-year tenure, capital under management grew from $15 million to more than $300 million. His successful track record includes investments in nearly 30 portfolio companies, including four that completed initial public offerings. Mr. Sutter started his career in 1979 as an investment banker with the Corporate Finance department of Smith Barney.

Mr. Sutter graduated from Yale University in 1979 with a BA degree in Economics and received his MBA from Stanford University in 1983.

 
 
 

Flip Huffard

Senior Managing Director
The Blackstone Group, Restructuring & Reorganization Advisor

Panel: Winn-Dixie: Case Study of an Award-Wining Turnaround

   
 
Since joining Blackstone in 1995, Mr. Huffard has worked on a variety of restructuring and reorganization assignments for companies, creditor groups, corporate parents of troubled companies and acquirers of distressed assets. These assignments include Winn-Dixie Stores, Fleming Companies, New World Pasta, Adelphia, Dade Behring, Inc., The LTV Corporation and Harnischfeger Industries, Inc.

Mr. Huffard has provided expert witness testimony in numerous bankruptcy cases on valuation and capital structure issues and is a frequent public speaker on restructuring topics.

Before joining Blackstone, Mr. Huffard worked at Hellmond Associates, Inc. and Smith Barney, Harris Upham & Co., Inc.

Mr. Huffard received a BA from Harvard College and an MBA from the Kellogg Graduate School of Management at Northwestern University.
 
 

William P. Smith

Partner, McDermott, Will & Emery

Panel: Changing Structure of Workouts

 

 

William P. Smith is a partner in the law firm of McDermott Will & Emery LLP based in the Firm’s Chicago office.  Bill concentrates his practice on resolution of troubled financing transactions.  His experience is particularly extensive in remediation of capital obligations of healthcare obligors and of tax-exempt finance.  Bill acts regularly for virtually all of the market participants involved in defaulted securities, whether as debtor, issuer, trustee, enhancer, servicer, or holder.  He has wide experience in bankruptcy related matters and is a frequent lecturer on issues relating to workout and bankruptcy.

Recent lectures include addresses to:   National Federation of Municipal Analysts (2007, 2006, 2005, 2003, 2002, 2001); The American Bar Association, Section of Business Law, Healthcare Related Bankruptcy Issues Working Group (2005); Government Finance Officers Association (2003); The Private Placement Industry Conference (2002); The American Conference Institute's Second Annual conference on Chapter 11 Finance, on the topic of considerations when converting debt to equity (2004), as well as conferences sponsored by American Bankers Association, The Bond Buyer, Healthcare Financial Management Association, Illinois Institute of Continuing Legal Education, Municipal Analyst Group of New York, National Association of Bond Lawyers, and the National Association of Educational Finance Authorities.

Bill is listed in The Bond Buyer’s Municipal Marketplace as experienced bond counsel and in the current 2008 edition of The Best Lawyers in America.  He is recommended by PLC Restructuring and Insolvency Leading Lawyers Worldwide and highly recommended by Chambers USALeaders In Their Field.  Bill has been designated an Illinois Super Lawyer and is listed as one of the Leading Lawyers in Illinois.

He is a member of the trial bars of the Northern District of Illinois and Southern District of Ohio, and has appeared before state and federal courts in approximately 30 states and the Sixth, Seventh and Ninth United States Circuit Courts of Appeal.

Bill is admitted to the Ohio and Illinois bars.

Professor Tim Thompsom

Senior Lecturer in Finance

Panel: International Opportunities in Turnarounds

Tim Thompson is Senior Lecturer of Finance. Professor Thompson has taught corporate finance courses in the full- and part-time MBA programs, the EMP program and in the International Executive MBA programs abroad. Prior to joining the Kellogg faculty, Thompson was a Research Consultant in the Consulting division of The Alcar Group, Inc. (now a part of LEK Consultants).

Professor Thompson's courses focus on the application of financial principles to corporate strategic decisions. He teaches Financial Decisions and Corporate Restructuring. In addition to his teaching, Thompson designs and directs selected Custom Executive Programs at the Allen Center, primarily for Societe Generale.

Thompson has received the Professor of the Year award in the part-time MBA program (TMP program), the combined MBA programs and, most recently the Kellogg-WHU International Executive MBA program.

Thompson also serves as a consultant to several corporations. He received his MBA from the Graduate School of Business at the University of Chicago.