@article {Fraser61, author = {Jill Fraser}, title = {Anatomy of a Turnaround}, volume = {2003}, number = {1}, pages = {61--72}, year = {2003}, publisher = {Institutional Investor Journals Umbrella}, abstract = {This article offers an inside look at the complex and challenging process of turning around a large industrial contracting firm plagued by deteriorating financial results, excessively high leverage, and multiple problems tied to a family ownership structure. During the course of one intense year, a team of four experts from Glass \& Associates restored profitability by redesigning this company{\textquoteright}s operating and financial structure, while providing everything from management guidance to emotional support for an aging pair of owner-managers and nearly 100 offspring, in-laws, and other relatives who were also tied to this business. Glass{\textquoteright}s efforts resulted in an extraordinarily effective recent refinancing, which repaired the company{\textquoteright}s troubled relations with the lending community, deleveraged its balance sheet, and drastically reduced costs.}, URL = {https://guides.pm-research.com/content/2003/1/61}, eprint = {https://guides.pm-research.com/content/2003/1/61.full.pdf}, journal = {Turnaround Management} }