What's up? - Turnaround Management Association

Chapters
Chapters
North American Chapters
Growth in chapters keeps TMA ahead of the game
Despite some predictions that TMA’s membership growth would
be flat and perhaps even drop in reaction to the recent
slowdown in business, TMA exceeded its 2006 membership goal
of 7,300 members early in October. It ended 2006 with 7,683
members – 105 percent of goal – with 1,908 new members and
an 82 percent renewal rate.
Much of the credit has to go to the robust efforts locally of our
strong chapter network. Chapter leaders stepped up, set
ambitious goals, created attractive educational and networking
events, and targeted new segments of the industry. In addition,
many chapters formed Young Professionals Groups, and the
Women’s Networking Group is growing as a way to gather locally
and at special events at TMA International conventions.
Award-winning chapters
Three chapters are especially good examples of the dedication
local leaders have in providing the best networking and
education opportunities possible. The Most Improved Chapter for
2006 is Australia, which is highlighted on page 20 in the
International section of this report, along with reports of all the
chapters outside North America. The 2006 Chapter of the Year is
the Detroit (Michigan) Chapter, and Florida TMA received
Honorable Mention.
Detroit TMA – Chapter of the Year
Quality communications, such as its quarterly newsletter
distributed electronically to more than 600 readers, is just one of
the reasons the Detroit Chapter moved up from the 2005 Most
Improved Chapter to this year’s Chapter of the Year. Two
presidents led this 273-member chapter during 2006, with Brad
Coulter taking over the reins from Patrick O’Keefe, CTP, when the
chapter changed officers in June. One of the fastest growing
chapters, with a 94 percent renewal rate, it has the highest
percentage of Certified Turnaround Professionals (CTP) among
TMA chapters. With $60,000 in sponsorships for 2006-07, the
chapter offers a unique benefit for its gold sponsors: a spot on
a business radio talk show hosted by a chapter member. Other
notable achievements include support for the MBA program with
a turnaround management concentration at the University of
Detroit Mercy, a new satellite chapter being developed in Grand
Rapids, two free member events a year, nationally known
speakers, an Automotive Conference, and a three day ACTP
study course and exam to promote the CTP designation.
Arizona
The Arizona Chapter teamed up with
the Association for Corporate Growth to
discuss corporate fraud and watch the
documentary, “Enron: The Smartest
Guys in the Room.” It was the first joint
educational event for both groups, and
Chapter President Chuck Krause
expects the chapter will collaborate
again with ACG and others. “ACG is at
the front end of the deal when people
are writing checks, the happy part of
the deal. TMA comes along when
people are sorry they wrote the check.”
The event at The Herberger Theater in
downtown Phoenix attracted 200
people, representing members from
both groups and guests. The 117-
member chapter picked up at least 10
new members, gave away souvenirs,
and introduced the profession to a few
Arizona State University students
accompanying their professors.
A November panel called “Restructuring
the Troubled High-Tech Company”
covered how turning around a
computer chip company differs from
one that makes a low-tech product,
such as potato chips.
The chapter presented Business
Turnaround Awards to Ted Burr, CTP, of
Sierra Consulting and Dan Garrison of
Gallagher & Kennedy for their work in
the Chapter 11 reorganization of Jake's
Granite Supplies.
A summer social hosted with ACG and
the M&A Roundtable took place at
Garcia’s Restaurant.
California (Northern)
A wine tasting at Borel Private Bank &
Trust Company received the most raves
from the Northern California Chapter.
“It really reinforced the main reason
why people join TMA in Northern
California – to connect with others in
the industry locally,” said Scott
Brubaker, CTP, president of the 150-
member chapter.
The program – a first in Borel’s elegant
meeting space – drew more than 50
attendees and resulted in new
memberships in the weeks following
the event.
Organizing other programs with the
Commercial Finance Association and
Association for Corporate Growth
helped improve speaker selections and
increase attendance.
California (Southern)
At the Southern California Chapter’s
fourth annual Night of Excellence
Charity Networking Event, members
and guests ditched their heels and
loafers to ride a Segway.
“Some people were a little nervous at
first because when you first get on,
gyroscopes balance it – but that
nervousness didn’t last for long,” said
2006 Chapter President Michael Cavan,
CTP. The event drew nearly 300 people
and raised $13,140 for the City of
Hope, a biomedical research
institution.
Cavan thinks the chapter’s 2006 fare of
educational programs attracted more
than the usual crowd – often 50 and
sometimes 100 attendees – because of
varied event times and locations and
more networking programs.
The chapter added 57 members to
reach 273 even as business remained
flat. With entertainment and sports
megastars, the region is a magnet for
hedge funds and private equity firms,
and they have kept distressed
businesses from feeling pain. “It’s
hyper liquidity,” Cavan said.
The board expanded from seven to 12
as the chapter continued to find ways
to stand out in an increasingly larger
crowd of professional associations.
Chapter Awards
6 > What’s up?
Florida TMA – Chapter of the Year – Honorable Mention
True grit is the mark of a determined Florida TMA Chapter, winner of the Honorable Mention
Chapter of the Year award. President Lunelle Siegel and her board did not give up on two
years of negotiations across three independent sales markets in Tampa, Orlando and South
Florida, resulting in this successful Florida TMA supplement with the American Business
Journals. The board also received a TMA Chapter Assistance Fund grant and then worked
hard to make its four membership initiatives successful: expansion into southeast and
northeast Florida and more members from the judicial and workout officers segment.
Taking a few more moments to
network at the last event of the
year are Arizona Chapter
members from left, Mike
Smith, Bret Maidman, Tom
Vivaldelli and others.
Chapter President Mike
Cavan, CTP, speaks to a
crowd that test-drove
Segways, the scooter-like
transporters that run on
batteries and compete with
pedestrians for sidewalk
space, during the Southern
California Chapter’s annual
Night of Excellence.
7 > What’s up?