Event Begins: Thursday, November 14, 2024 6:00pm
Location:
Organized By: University Career Center

Alvarez & Marsal (A&M) is excited to invite you to our Women in Restructuring Virtual Presentation! This session is to celebrate our core value of Inclusive Diversity and the growth of our women talent across our offices! We also will discuss our open consulting restructuring internship opportunities for 2026. This event is open to all studentrepresentation.   About A&M Restructuring: Privately-held since 1983, Alvarez & Marsal (“A&M”) is a leading global professional services firm that delivers performance improvement, turnaround management, and business advisory services to organizations seeking to transform operations, catapult growth and accelerate results through decisive action.   For over 40 years A&M has been a trusted advisor to our Turnaround and Restructuring clients. Our team works on some of the most complex and interesting projects available. If you're interested in restructuring consulting and looking fora new challenge, a fast-paced team environment and an inclusive culture, check out our presentation!  #Likewhatyoudo #lovewhoyoudoitwith 

Stockholders in financially troubled Spirit Airlines, the South Florida-based discount carrier, would see their shares canceled under a potential debt restructuring agreement that has been under negotiation between the airline and its bondholders, the company says.

DNA-testing company 23andMe (Nasdaq: ME), once an industry leader that attracted millions of customers, including rapper Snoop Dogg and investor Warren Buffett, has announced significant cuts to its operations, with plans to lay off 200 employees or roughly 40% of its workforce. The company also said it will discontinue development of its therapeutic programs. Here’s what to know about the latest development and what led up to it.

Board exodus

The latest move comes as the company looks to stabilize after facing significant challenges, including the resignation of all seven independent board members in October.

Data breach

Last year, 23andMe suffered a massive data breach when hackers accessed the personal information of 6.9 million users. The incident led to a class-action lawsuit, which, in September, 23andMe agreed to settle for $30 million.

The problem with SPACs

In 2021, 23andMe went public through a merger with a special purpose acquisition company, or SPAC. It later expanded into drug-discovery and weight-loss sectors. However, as DNA test kit sales declined, so did its financial health. By fiscal 2023, it reported a $312 million net loss, with its stock down 98% since going public, currently at about $4 after a reverse stock split in October 2024.

Separate reports have found that things have often not ended well for companies that took advantage of the pandemic-era SPAC boom, which led to billions in losses for investors and a number of bankruptcies for companies.

What’s next for 23andMe and its employees?

The layoffs are expected to result in $12 million in severance, termination, and transition-related costs and are part of a broader plan to streamline the business and achieve annual cost savings of $35 million.

The company says it is exploring various strategic options for its therapeutic programs, including potential licensing agreements and the sale of assets in its development pipeline.

“We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,” said Anne Wojcicki, cofounder, CEO, and chair of the board, in a statement.

Shares of 23andMe were up almost 6% to $4.87 on the news, which was announced late yesterday. The stock is down more than 73% year to date.

The reorganisation plans would only focus on Booking.com and not associated brands such as OpenTable, Agoda, Priceline, and Kayak, according to Reuters.

Read more: Booking.com job cuts may be on the way amid restructuring

Lt. Gen. Leah Lauderback hopes the Senate will confirm a three-star in spring to lead the newly established A6, and the A2 will "go back to the A2."

The post Air Force is restructuring its headquarter-level intel, cyber directorate first appeared on Federal News Network.

While revenue fell sharply, it managed to reduce loss to a third at Rs 167 crore compared with Rs 503 crore the year before, according to the company’s financials. Dealshare’s revenue from the sale of traded goods decreased by 74.7% to Rs 495.8 crore in FY24, while its marketing services income contracted 44.3% to Rs 3.3 crore.

Public comments will also be limited to the school’s students, staff and families, according to the district’s website.

Implications of post-COVID-19 Restructuring of Supply Chains for Global Investment Governance 14 July 2020 — 9:00AM TO 10:30AM Anonymous (not verified) 9 February 2021 Online

As companies rethink and diversify their supply chains in order to enhance resilience, what will this mean for current and future global investment governance?

What are the risks of negative effects on inclusivity and transparency? Does this shift create an opportunity to advance good governance of cross-border investment practices?

This event is part of the Inclusive Governance Initiative, which is examining how to build more inclusive models and mechanisms of global governance fit for purpose in today’s world.

A "renowned" restructuring advisory business has been acquired by a major player.

Amplitude Studios, developers of many a game with "Endless" in the name, have split with publisher Sega to become independent again, with ownership of the studio reverting to its original founders and "other members of the team". The developers say everyone is parting "on good terms" and that the last eight years of getting published under Sega has been "amazing". But there are other businessy reasons, of course. Namely, Sega have been trying to trim down their European studios for the past year, and Amplitude is just the latest bunch of devs affected by that.

Read more

On Thursday, the Reserve Bank of India (RBI) permitted extending the restructuring of MSME (Micro, Small & Medium Enterprises) debt until 31 March 2021 under the existing framework where MSMEs that were in default but 'standard' as on 1 March 2020

Agarwal described the global restructuring process as "95% complete."

The post This restructuring is a one-time project, says Oyo founder Ritesh Agarwal appeared first on DealStreetAsia.

Its net debt has improved by about $500 million from start to finish.

KYN Capital Group, Inc. (OTC KYNC) The company is executing a plan of corporate restructuring and has begun working with an auditor to become fully audited and fully compliant with SEC filings.

We find 3 new hires for every 10 layoffs caused by the shock and estimate that 42 percent of recent layoffs will result in permanent job loss. That is from a new paper by Jose Maria Barrero, Nick Bloom, and Steven J. Davis, top experts on this and related topics.  As for policy: Unemployment benefit […]

The post Labor market restructuring and its possible permanence appeared first on Marginal REVOLUTION.

Humans are guilty of having less than rational thoughts. We do it all the time. We might assume the worst is going to happen or jump to conclusions before we have all the information. Cognitive restructuring helps people become aware of their irrational thoughts so that they can correct them and replace them with more [...]Read More...

 Prudential Guidelines on Restructuring of Advances by Banks <

RBI, on April 17, announced to provide special refinance facilities for a total amount of Rs 50,000 crore to NABARD, SIDBI and National Housing Bank (NHB) to enable them to meet sectoral credit needs.

This week marks another critical juncture in the ongoing fight against the economic challenges presented by the COVID-19 crisis. With the jobs retention scheme portal now open for applications since Monday 20 April 2020, many businesses and employer...

Two recent cases demonstrate the efficacy of existing restructuring regimes under Irish company law and more particularly that the Courts in Ireland are receptive and efficient in approving and implementing large multi-jurisdictional restructuring s...

On April 17, the Alberto Ángel Fernández administration in Argentina officially unveiled its offer for debt restructuring on USD 66 billion foreign currency-denominated bonds. Starting on that date, the offer is valid for 20 days, a period during which difficult negotiations with bondholders are expected to take place. Based on the first reactions from some […]

The post Argentina’s Debt Restructuring “Groundhog Day”… or Maybe Not? Three Key Points appeared first on Inter Press Service.

Dr Mah Hui Lim has been a university professor and banker, in the private sector and with the Asian Development Bank.
Dr. Michael Heng, Former professor in Management Science.

The post Pandemic Crisis May Trigger Societal Restructuring appeared first on Inter Press Service.

'You can’t have a going out of business sale when you can’t get your business open'

May 6, 2020

Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina, but for the international financial system as a whole.

May 6, 2020

Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina, but for the international financial system as a whole.

May 6, 2020

Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina, but for the international financial system as a whole.

The move by Untuckit comes as a number of retailers are looking to renegotiate deals with their landlords, or shut stores entirely, as the Covid-19 pandemic has forced doors temporarily shut to try to curb the spread of the virus.

The 2011 disaster and nuclear problems opened the door to a new energy policy, as they raised fundamental questions about the electricity system’s ability to prevent and respond to accidents.

This paper explores the connection between “zombie” firms (firms that would typically exit in a competitive market) and bank health and the consequences for aggregate productivity in 11 European countries.

Restoring fiscal sustainability is a major challenge in Slovenia. Yet, the performance in terms of expenditure control is poor and public expenditure on social spending increased briskly during the crisis, significantly more than on average across the OECD.

Slovenia is facing the legacy of a boom-bust cycle that has been compounded by weak corporate governance of state-owned banks. The levels of non-performing loans and capital adequacy ratios compare poorly in international perspective and may deteriorate further, which could require significant bank recapitalisation.

Bondholders weigh deal with Macri against negotiating with likely successor Fernández

Chief Jon Lewis admits outsourcer has ‘more to do and requires more investment’ than expected

Bondholders await government’s next move as fears of default intensify

Many widows and destitute women in the fishing communities of Tamilnadu have been left out of tsunami relief because of acute gender bias. Men are also abusing relief funds on liquor, with women bearing the brunt. In the meantime, NGOs are trying to erode rigid attitudes with social awareness, reports Freny Manecksha.

Non-banking financial companies (NBFCs) have asked the Reserve Bank of India to allow them one-time restructuring of all loans till March 2021, as their borrowers are facing funding issues amid the coronavirus pandemic and the subsequent lockdown.

Restructuring Projects India

​ NBFCs have also demanded for extension of the Reserve Bank of India's moratorium to them, relaxation on provisioning norms and additional funding from Small industrial Development Bank of India (SIDBI) and National Bank for Agriculture and Rural Development (NABARD) through refinance mechanism.

Mutual Funds say they didn't need to use their liquidity line fully

Industry experts call Trai recommendations impractical and driven by vested interests.