alerts & publications
CFO: The Restructuring Remedy四月 9, 2020
John J. Rapisardi, chair of the firm’s Global Restructuring Practice, authored this bylined article discussing the importance of the restructuring process during the current global economic crisis.
“The COVID-19 pandemic threatens a global economic crisis, unlike any faced in our lifetimes,” Rapisardi wrote. “As a restructuring professional for 38 years, I have lived through my share: the savings and loan crisis, stock market crash, and junk bond crash of the 1980s; the dot-com bubble of the late 1990s; the post-9/11 recession; and the mortgage-backed securities meltdown of 2008. This time is different.”
He continued: “The challenge today is that the virus has exposed deeper, more persistent vulnerabilities in the way companies do business. As a result, the natural remedies employed during past crises —changes to monetary policy, government bailouts for ailing industries — will fall short of the dramatic measures necessary to stabilize the U.S. economy. And to save what we can.”
Read the full article here.
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