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News and Events
O’Connor Group Executive Leads Next Generation of TurnAround Management Association
Edward Schatz of the O’Connor Group Co-Chairs TMA Future Leaders Program
Bedford, MA, January 12, 2012 - In 2011, Chairmen Edward Schatz, The O’Connor Group, and Andrew Phillips, Wells Fargo Capital Finance, petitioned and received approval from the TMA (Turnaround Management Association) chapter’s Board of Directors to make the TMA future Leaders Program (renamed NexGen this year) an official committee of the TMA with a representative (Schatz) on the board.
The TMA Northeast Chapter provides valuable opportunities throughout the year for young professionals to network and learn from both peers and seasoned industry veterans. “We are a very active group that enjoys putting together events that encourage peer-to-peer interaction in fun, inviting, and relaxed atmospheres,” says Schatz. “We have over 400 young professions on our mailing list and our events are well attended/received.”
“It is an honor and a pleasure to provide opportunities for the next generation of turnaround experts and managers”, said Ed Schatz of The O’Connor Group. “My work with the TMA NexGen program only underscores my and The O’Connor Group’s commitment to cumulative experience in our professional discipline.”
As a NexGen program, TMA offers a significantly discounted membership fee for joining the TMA and allowing new, young members to learn from industry leaders during chapter and regional educational events, as well as three annual TMA conferences, webinars and other e-learning resources.
Click here to see a PDF of the article.
2012-01-12
Edward Schatz of The O'Connor Group Joins TMA Board
Managing Director Brings Years of Experience to Peer Group
The O’Connor Group, Inc., one of the region's premier financial and strategic advisory firms, proudly announces Edward Schatz, managing director for the firm, has been appointed to the Board of Directors for The Turnaround Management Association, Northeast Chapter for a three year term commencing January, 2011.
Mr. Schatz is a CIRA (Certified Insolvency and Restructuring Advisor), and a member of the Association of Insolvency and Restructuring Advisors, and the Association for Corporate Growth. Mr. Schatz brings vast experience to turnarounds, divestitures and bankruptcy proceedings. In his nine years with The O’Connor Group, he has been instrumental in advising a wide range of middle market companies including retail, high tech, manufacturing and distribution companies.
The Northeast Chapter of the Turnaround Management Association is a group of turnaround professionals including bankers, lawyers, accountants, investors, and academics that meet to discuss issues and needs relevant to corporate renewal and recovery and to promote high standards of practice and improved methodologies in turnaround management. The TMA Northeast Chapter is one of the three largest chapters in the country. The Board of Directors are responsible for oversight of the Northeast chapter activities and to promote and advance the founding mission of the Turnaround Management Association.
"We are extremely pleased that Edward Schatz has been appointed to the TMA Northeast Chapter Board of Directors. He has been directly responsible for successful business revitalizations and financial recoveries for many years, and his knowledge of regional business activity and his understanding of best practices should prove to be of great benefit to TMA and to his peers," said James O’Connor, founder and president of The O’Connor Group. The O’Connor Group has been a Silver Chapter Sponsor of the Northeast Chapter of TMA since 2009 and a member of the TMA since The O'Connor Group was founded in 1999.
2011-01-20
The O’Connor Group, Inc. To Restructure Fletcher Granite Company LLC
As reported in The Boston Business Journal
As reported in The Boston Business Journal on September 16, 2010, The O’Connor Group, and it’s Managing Director, Steve Petrarca, have been hired as chief restructuring officer for Fletcher Granite Company LLC as of July of 2010. Fletcher Granite Company LLC has filed for Chapter 11 reorganization.
In the 1990’s Fletcher was one of the nation’s largest producers of granite curbing, according to a history of the company filed with the court record. The business has suffered at the hands of obsolete technology and building industry recession, and court records show that over the past three years annual revenue declined from $17.9 million to $11.5 million. The company owes about $230,000 in back wages and another $110,000 in sales and use taxes, in addition to outstanding bank and creditor debt.
“The O’Connor Group Inc. will work quickly on behalf of the Company to restructure the firm’s debt and settle it obligations,” said James O’Connor, President of The O’Connor Group Inc. “And while we do see our fair share of bankruptcy proceedings, we really wish firms would reach out to The O’Connor Group before the financial problems become so difficult that this step is inevitable. A great deal can be done to right the ship if we are brought in when financial problems first begin to mount instead of following a year or more of ongoing deterioration.”
The complete story as reported by The Boston Business Journal can be found here:
http://boston.bizjournals.com/boston/stories/2010/09/06/daily7.html
2010-09-29
The O’Connor Group, Inc. Celebrates Ten Years of Business
August, 2009
The O’Connor Group celebrates ten years of operations, providing general business improvements or complete work outs and turnarounds to dozens of clients over the past decade.
James O’Connor, CEO, founded The O’Connor Group, Inc. in 1999 to provide his clients with the kind of care and service needed in the market place as firms found themselves faced with unexpected difficulties in managing and sustaining their businesses. Previously O’Connor worked in public accounting where he became specialized in serving distressed companies. As O’Connor honed his skills in this arena he developed a sense for how to best serve his clients in a more responsive and personalized manner.
Large companies providing services to distressed companies often develop a “one size fits all” approach and send the more junior team members on site to do the bulk of the work with more senior experienced staff only visiting periodically. These firms also carry very heavy fees to accommodate their staffing models. O’Connor felt he could add more direct value for firms, with less infrastructure and cost passed on to the client.
After incorporating in 1999 O’Connor recruited experienced associates and has been helping one company after another navigate through their particular business challenges. 2009 has brought economic difficulties to a number of businesses and has also made board members and bankers aware that normal, day-to-day, business management experience is insufficient to handle the challenges of a severe downturn in market economics for some companies.
O’Connor and his team each have over twenty years of business experience serving distressed companies, providing an entirely different perspective and ability to make clear work of the situation at hand. The O’Connor Group’s client-focused model will continue to prevail for decades to come.
Please contact:
The O'Connor Group, Inc.
10 Stearns Road
Bedford, MA 01730
Phone 781.275.2423 Fax 781.280.0249
Email to: info@theoconnorgroup.com
2010-05-27
Bankruptcy: A Genesis
Presented By: American Airlines
Turning Around Business Today
James O'Connor, founder and president of The O'Connor Group, is a leading turnaround consultant helping companies to establish a second chance for success. American Airlines interviewed Jim for an on-air series - Listen as Jim addresses the stigma of bankruptcy and redefines it as a genesis for many companies.
Of course, bankruptcy is not always the answer. Through thorough analysis and working with your management team, The O'Connor Group can help you to improve business efficiencies and create a path for future success. Contact a consultant at The O'Connor Group today.
2009-07-02
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