The Genesis of This Blog

These are truly extraordinary times in the history of America. All signs point to this economic downturn becoming the worst downturn since the Great depression.

The Restructuring industry, or "profession" if you prefer, has matured significantly over the last thirty years over which it emerged as a profession. The question is:

How will the Restructuring profession change to maximize its utility in the very changed circumstances in which America now finds itself?

Having served on the front lines of the Restructuring profession from the early days (does that make me a full fledged dinosaur?) and having spent the last 10+ years advising major firms as to their Restructuring practices, I have had a ring side seat to the significant changes that have occurred in how restructurings typically play out. But, I suspect the changes I have seen over the last thirty years will pale by comparison to changes that will occur over the next three to five years.

As part of my continual quest to keep my hand on the pulse of the profession, I have been informally asking thought leaders in the Restructuring industry how they see the profession changing in the coming years. What I find fascinating is that those who are strong advocates of needed changes in other industries, by and large conclude that the profession does not need to change. Somehow, that just doesn't sound right! Why would this industry be any different than every other industry facing the need for radical change?

I have decided to up the ante. I am now going beyond informal, private questioning. Every week, on my Restructuring America show (debuting in early February), I will be interviewing thought leaders in the profession. Besides asking them to update all of us on developments at their firms, I will be asking them to share what they see as some of the important changes unfolding on the front lines of the Restructuring world. Through these interviews and my market research on behalf of my clients in the Restructuring arena, I will be offering up thoughts on this blog as to some of the changes that are occurring.

I hope that my writings will stretch your own thinking about this important profession. Most importantly, I hope to engage you to the point that you will share comments with readers, whether on an anonymous basis or with full attribution. I have no crystal ball, and claim no all knowing sense of where the profession is heading, or needs to head. I think I do know some of the questions that need to be asked.

In creating this dialogue, I hope to join you in advancing a profession that is so important to the revitalization of the economic strength of our country.