Hello, fellow bloggers. This week I’d like to share blog #2 in “Turnaround Tips (and Stories)” to provide some insight and color into the turnaround of a west coast food packaging subsidiary (“EP”) of an east coast parent. EP was losing money and was cash flow negative, and the trend was downward. I was invited to a presentation to be made by a consulting firm hired by the parent company, courtesy of the parent’s CFO, an enduring friend. At the conclusion of the presentation which analyzed the issues at EP, I was hired as Interim General Manager to work with the consultants-and keep their fees as low as possible. After a few months, I was elevated to the position of Interim President and there was never a dull moment…  Read more...