Why Companies Fail: Strategies for Detecting, Avoiding, and Profiting from Bankruptcy
From Debra Ann Hatten - The Christian Science Monitor (Eastern edition) This book, written for the nonfinancial reader, records conventional reasons for business failure: cash-flow problems, taking on too much debt, and starting out with too little capital. But it continues where other books may stop, pointing out to those who are nearly bankrupt how to avoid bankruptcy. It describes reorganization techniques that have pulled companies out of the holein recent years--such as refocusing market niches and converting debt into stock. The book uses minicases to illustrate these methods. The author also gives potential investors a score card to select potential turnaround companies when picking up the high-risk, high-yield bonds (not stocks) of near-bankrupt or bankrupt companies.
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accounts receivable Airlines Altman balance sheet bank bankrupt companies bankruptcy court bonds borrow Bowmar Braniff business failure calculated capital cash cash-flow cycle Chapter 11 bankruptcy common stock company's Computer Devices condor converted corporate court protection creditors current assets current liabilities debt holders debt ratio dinosaur dividends dollars Dome Dun & Bradstreet eagle earned equipment example expenses failing companies Failure Record filed a Chapter financial leverage financial ratios firm's fixed assets flow future healthy higher IHC's income statement increase industry interest rates inventory investment investors lenders less Lionel liquidation loan long-term assets losses lower machines Mattel operating income operating leverage operating profit owners panies payments percent percentage potential Prime Computer problem purchase quarter reason reorganization plan repayment reported result revenue risk sell short-term debt sold stockholders strategy survive Table total assets trouble units W.T. Grant Wickes Wickes's worth yield curve