Select Case Studies

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Challenge | Role | Results


Description – Client with Difficult Operational Change

  • Loan with bank in special assets
  • Company expenses too high in certain areas
  • Company unable to stay on budget
  • Procedures and systems not being followed
  • Computers not maintained, inadequate software & IT support
  • Financial statements were not being timely prepared
  • Reduction of expenses
  • Implement new software to provide accurate financial info for management
  • Group health insurance plan modified for significant savings
  • Financial statements prepared by 10th of each month
  • Replace outdated computer equipment for reliability
  • End to special spending for certain employees
  • Recommend changes in Food & Beverage Dept.
  • Bring previously outsourced services in-house for better quality and cost savings
  • Latest annual budget to reduce expected loss for the year
  • Internal controls have been strengthened
  • All members must sign for goods and services
  • New guidelines for Management Authorizations
  • Assist board of directors with resolution of bank loan & covenants
  • From no management to better management: new GM, CEO
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Corporate Management

Description – Client with Senior Management Disagreement – CEO vs CFO

  • Building underway and new loan with bank
  • CFO not cooperating with present CEO
  • Two different software systems within departments
  • No assistance to the capital campaign for financial information
  • Financial statements were not being timely prepared
  • Internal controls lacking, no response by previous CFO
  • Politics were used to resolve business decisions
  • Acquire same accounting software for use by all departments
  • New software to provide accurate financial info for – management
  • Financial statements prepared by 10th of each month
  • Change of banks, loan requirements for new building loan
  • Change internal controls, bring into compliance with GAAP
  • Convince employees to work together to accomplish goals
  • IT department to increase speed for software & internet access
  • Help with selection of new CFO
  • Change in Financial statement preparation for bank
  • Internal controls have been strengthened
  • Communicate with CEO to understand impact of business decisions
  • Communicate with departments for better understanding
  • New software system to help financial statement preparation for quarterly statements
  • Shareholder issues resolved
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Board of Directors

Description – Client with Shareholder Disagreement

  • Company bought-out 49% shareholder with long term note
  • Company on hook because loan guaranteed with assets of company
  • Losing money and no equity on balance sheet
  • Earnings each year paid bonuses to shareholders and key employees
  • Acquisitions of business paying too high a price
  • Company on verge of bankruptcy, no budgeting or control of annual expenses
  • Convince remaining shareholders to not take bonuses each year
  • Use restraint, no bonuses, save money and build equity
  • Increase in equity allows company to operate with profit
  • Reduce excessive expenses paid to certain employees
  • Make all sales agents accountable for their business expenses
  • Timely financial statements to better track company progress
  • Update systems to expedite the delivery of product
  • Company began to make money, and reduce debt
  • Company operates within a reasonable budget, equity growing
  • Communication with employees to understand corporate plan
  • Formed partnership with shareholders & employees to buy building
  • ESOT used to pay back the 49% shareholder purchase
  • Stability enabled company to grow, under control with a plan
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Description – Relocate Phoenix Open From Phoenix Country Club to Tournament Players Course (TPC) Scottsdale

  • Tournament held at PHX CC for last 40 years
  • Move was highly controversial as many believed spectators would not come
  • TPC Scottsdale was 20 miles north of PHX CC
  • Thunderbirds are a unique group to undertake this large task
  • General Chairman responsible for the move
  • Effective sales efforts through membership
  • Organization needed to see that all chairmen were moving to the goal
  • Tournament Board had no single or major corporate sponsor
  • The move was much more expensive than anticipated
  • Group had to be creative to complete move with limited budget
  • The 1987 Phoenix Open was a huge excess
  • Tournament attendance was 100,000 more than previous year
  • The venue was better suited for golf tournaments
  • The group was very supportive and worked to see it through
  • “Impressive and amazing” were the comments by PGA TOUR Players & Officials
  • Established long-term relationship with City of Scottsdale
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