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TOP EARLY WARNING, RESCUE TIPS FROM FAMED KING OF BUSINESS TURNAROUNDS

 CLEVELAND, July 21 /PRNewswire/ -- The chief executive officer of a company in trouble, in dire need of guidance but with few places to turn for it, need look no further than Larry Goddard, a king of turnarounds, rescues and work-outs.
 No one has more sympathy for the lonely CEO of a distressed company than Goddard, who has helped save some 40 firms and now is making his best advice available to others both as a consultant, and through his new book "Corporate Intensive Care" ($49.95, York Publishing, 800-247-6553, for order).
 "I can get you started on the road to rescue with just a few key tips from my Early Warning System, to suggest when it's time to act and a few more tips to get you started on the road to action," says Goddard.
 Goddard, best known for his turnaround between 1982 and 1989 of the ailing construction equipment giant Waco International which went in that time from annual sales of $8 million to $100 million, says even the most successful CEO probably won't know what to do or when to do it when things are going down hill.
 "You know you're in trouble and it's time to act," he says, when:
 -- you're always late on making tax withholding payments
 -- your suppliers put you on C.O.D.
 -- your key employees are being recruited by the competition
 -- you haven't got funds to buy new materials to fill orders
 -- a major customer stops placing orders
 Here's how to get started on a turnaround:
 -- identify the real causes of the problems (not symptoms)
 -- implement emergency procedures to maximize cash flow
 -- dispassionately review all loss-making areas of the business
 -- discontinue all expenditures that aren't absolutely essential
 -- involve employees in searching for ways to change the business to
 make it more productive
 "There's much more to it. A work-out or turnaround takes experience and techniques unfamiliar to most businessmen," Goddard says. "My book will help them or they can contact my firm, The Parkland Group, 216-621-1985."
 -0- 7/21/93
 /EDITOR'S NOTE: Goddard, an articulate and dynamic speaker, is available for interviews. Complimentary review copies are available by calling contact/
 /CONTACT: Rachal Rapoport of York Publishing, 216-491-0231/


CO: The Parkland Group; York Publishing ST: Ohio IN: PUB SU: PDT

BM -- CLFNS1 -- 3711 07/21/93 07:35 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Article Type:Bibliography
Date:Jul 21, 1993
Words:385
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