Lewis
Jaffe |
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Heading for trouble:
Warning
Signs Between you... |
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- Experiencing a decline in margins & sales?
- Not servicing your customers?
- Rumors in the marketplace that customers are unhappy with
you?
- Marketplace changing faster than you are?
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and the financial markets: |
- Stock prices lower than book value?
- Availability of senior debt facility running out?
- Getting close to breaking your covenants?
- Trying to secure "hard to get" equity and debt financing?
- Does your bank want to be "taken out"?
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and your management team: |
- Trouble creating value from, or integrating, an acquisition?
- Experiencing significant senior management turnover?
- Having receivables and/or payables bracket creep?
- Named in a bankruptcy case as a large creditor?
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A
Turnaround Plan Checklist |
- OBJECTIVE: Create and execute an operational/financial turnaround
plan focusing on customer needs, reinvigorating corporate culture
and restoring shareholder value.
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- Identify and eradicate programs, policies and procedures with
non-demonstrable ROl's.
Corporate-wide—from marketing to manufacturing, from travel to
real estate.
- Benchmark industry-leading procedures for customer acquisition
and retention.
- Develop controls and procedures for monitoring the company's
financial health.
Hold management team accountable for development and execution
of departmental plans.
- Create a communications plan addressing all constituencies.
Customers - Coworkers - Stakeholders
- Settle any outstanding SEC issues and class action litigation.
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Recent Speaking
Topics and Engagements |
Being a Better Manager and Board Member
Intel Capital Worldwide Face-to-Face Conference
Stybel Educational Forum
Managing Chaos
Turnaround Management Association
Young President's Association
Promotional Products Association
Massachusetts Continuing Legal Education Seminar |
The Practical Side of Sarbanes Oxley
National Association of Corporate Directors
Financial Executives Institute
The Board's BIG Question; "Is It Time To Sell?"
Getting All The Agendas on the Table
National Association of Corporate Directors
Making M&A Work, After the Deal Closes
MIT Enterprise Forum |
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Selected
Quotes from Attendees
“I can't wait to get back to work so I can share what I
learned with my management team"
Paul Bethuen, Avaya
“Not only did I learn a lot, but you took it to the
next level by showing us how to apply what you taught.”
Mark Kelly, General Foods
“That was great, I want you to speak at a conference
I am putting on for my company and teach my peers what you taught
me.”
Ranjeet Alexis, Intel Capital
“I learned more about how to be a better manager in
the last hour than I learned in 2 years of Business School”
Art McDonnald, Marriott Hotels
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Biography |
In
the course of his 20+ year career, Lewis Jaffe has participated
in the successful turnarounds of more than 20 under-performing companies
in a variety of industries, including telecommunications, healthcare,
manufacturing, retail and distribution and the internet, and raised
money for dozens more. His ability to simplify business problems
and to design and execute effective business plans is the strength
be brings to troubled and undercapitalized businesses. |
Most recently, in April 2002, Mr. Jaffe was asked to step in and
take an interim management role with WireOne Technologies (WONE:NASDAQ)
where he was a member of the board. As President and Vice Chairman
be is charged with bringing the Company to profitability and to
introduce the Company's new dedicated video over IP network, the
Glowpoint Network into the marketplace. |
Prior to WireOne, in June of 2000, he was drafted by PictureTel
Corporation, a $350 million, NASDAQlisted Videoconferencing
Company in Massachusetts, to formulate and execute a turnaround
plan. The company had sustained losses of over $200 million annually
for three years prior to his joining. During his tenure as the company's
President and Chief Operating Officer, Mr. Jaffe introduced new
technology to the marketplace, streamlined business processes, improved
customer relations and cut costs, thus restoring the company to
profitability. He also successfully engineered the sale of PictureTel
to Polycom, increasing shareholder value by more than 250 percent.
The Board of Directors of PictureTel met Mr. Jaffe when he was engaged
by the Company to address its liquidity crisis and mounting losses.
Mr. Jaffe was the Managing Director of the Corporate Restructuring
practice of Arthur Andersen LLP in Boston, during his two year tenure
he worked with a range of trouble companies, in and out of bankruptcy. |
Prior
to joining Andersen in 1998, he spent four years as president of
two companies: C Systems, LLC which owned Craig Systems & Eastern
Technologies, both in the aerospace industry; and CORE-M, Inc.,
a medical device manufacturer. He lead the emergence of C Systems
out of bankruptcy and sold the Company one year later at a 100%
premium over the initial purchase price. Core M was a medical technology
start up where he raised second round financing and installed a
management team and systems to introduce breakthrough technology
into the marketplace. In each case, he created the plans and led
the companies to financial health. |
Mr.
Jaffe began his career in 1979 with The Gem Group, an international
importer and graphic imprinter of canvas and nylon bags helping
to build the Company from $1 million to $25 million.. In
the course of his 15 years with Gem, he held a number of posts including
Production Manager and Vice President-Domestic Operations. In 1988,
he was named President and Chief Operating Officer. |
Mr.
Jaffe sits on the Boards of Directors of WireOne Technology Corporation
(NASDAQ:WONE) and the Turnaround Management Association. He has
been a guest on a number of business shows on the CNBC, MSNBC and
ABC networks, a sought out public speaker on the topics of "Leadership",
"Managing Troubled Companies" and "Effective Board of Directors'
Strategies and Tactics" and has been quoted in a variety of business
and trade publications including Forbes Magazine, The Wall Street
Journal, the New York Times, Business Week and the Boston
Globe. |
Mr.
Jaffe is a graduate of LaSalle University, and the Executive MBA
Program at Stanford University's Graduate School of Business. While
a student at LaSalle be was a science instructor at the Franidin
Institute, America's oldest science museum, and was Mr. Science
for Pennsylvania's Public Television stations. |
