Alvarez & Marsal Forms Dedicated Group Focused on Homebuilding Industry Restructurings.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- As an increasing number of public and private homebuilders face liquidity shortfalls in the wake of the subprime mortgage crisis, credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. and slow down in housing demand, Alvarez & Marsal, the leading independent global professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm specializing in turnarounds in the private and public sectors, has formed a dedicated group to serve the needs of the homebuilding industry and their constituents. Led by managing directors Andrew Hede and Scott Brubaker, the group utilizes the firm's expertise from multiple service offerings, including Restructuring and Performance Improvement, Real Estate Advisory, Transaction Advisory and Dispute Analysis & Forensics See computer forensics. . "The number of distressed homebuilders continues to rise, as companies struggle to deal with the growing divergence between demand and supply and face liquidity shortfalls as asset values drop below debt levels in many instances," said Mr. Hede, who was tapped to be a panelist on the topic at a recent Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. conference. "More and more homebuilding companies are pursuing financial and operational restructurings and it's likely that additional pain may be in store before the industry hits bottom." "Alvarez & Marsal is already working with a number of homebuilding industry clients across the country," noted Mr. Brubaker, who is working with California-based Dunmore Homes. "Some have been forced into the situation by creditors; others have taken an honest assessment of the situation and have decided to be proactive to try to stop the bleeding and put the company in the best possible position to ride out the storm. Our goal is also to best position companies to prosper when the market recovers." Bryan Marsal, co-CEO of Alvarez & Marsal, added, "Given our firm's heritage in helping businesses overcome operational and financial problems and navigate challenging market conditions, we are well-suited to work with clients that are suffering the effects of the current environment." In addition to Dunmore Homes, A&M has recently been engaged by a number of public and privately-held builders, or their creditor constituencies, in California, Nevada and Florida. Alvarez & Marsal For nearly 25 years, Alvarez & Marsal has set the standard for working with organizations to tackle complex issues, boost performance and maximize value for stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . As the leading, independent global professional services firm, Alvarez & Marsal excels at leadership, problem solving problem solving Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error. and value creation. Whether serving in interim management or advisory roles, the firm draws on a deep operational heritage and hands-on approach to deliver comprehensive performance improvement, turnaround management and corporate advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to clients ranging from international enterprises to middle-market companies to public sector and healthcare entities. With a team of seasoned professionals based in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , the firm provides Turnaround Management services, including Performance Improvement; Turnaround and Restructuring Advisory; Interim and Crisis Management; Risk Management Advisory; Creditor Advisory and Claims Management. A&M's services also include: Business Consulting; Real Estate Advisory; Dispute Analysis & Forensics; Corporate Finance; Tax; Transaction Advisory; and Technology Asset Management. For more information, visit www.alvarezandmarsal.com. |
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