Today I attended a luncheon for the Turnaround Management Association of which I have been a member for approximately 10 years. During this time I have seen good economies and bad. For the past 3 years the economy has been so good that the TMA meetings looked like a Maytag repairmen convention. Today was different! The question I want to ask is, “Is the Tide Beginning to Fall?”
Is the Tide Beginning to Fall?
The room was packed with people I had not seen in 6 months. What was more thought provoking was the speaker. Not what he had to say but his recent career change.
Trained as a bankruptcy attorney the speaker had spent the last 6 years as an investment banker. Sometime during the year his firm was sold to Merrill Lynch. He recently left Merrill Lynch to join a major law firm. Doing what? Bankruptcy law!
So when the investment bankers start becoming bankruptcy attorneys maybe we should be watching the economy more closely!
Check out the warning signs of a company in trouble.