Rules for workouts

Stay involved and focused when doing a workout

The number One rule in a workout, turnaround or Bankruptcy is to stay very involved and have a never give up mindset. If your team, professionals and opposition see or sense that you do not believe, have faith, energy or have abandoned ship then your done.

Don’t be late for calls or meetings, return emails on time, unless its part of the strategy of course. Focus on the day to day business or property and what you need to do to improve the situation. Focus on the legal battle your fighting.

You’re the leader and they take the lead in energy and drive from you.

If you have made up your mind to stay to the other side, then stay involved. If that means bringing in new management or professionals, that’s fine, do that. But if that is you, then you need to stay focused and keep pushing ahead. (You will gave good days and bad ones, but you need to try to have more good ones)

H. Jack Miller

http://www.gfcib.com/turn-around/stay-involved-and-focused-when-doing-a-workout/

Tell someone you love them today

Random thought

Unless you Live something you can't know what it's like 

Turn around and workout mistakes

Turn around and Workout Mistakes

1. Taking money out of your retirement account or other protected assets to prop up your business or investment.
2. Not being very involved, giving up, being undependable or a goof ball
3. Thinking your lender cares about you or your business and will work with you, your interest and there interests are very different, they will mislead you and even be less then honest with you to get what they want.
4. Don’t make your lenders creditors stronger and you weaker every dollar you give them does that.
5. Not getting great professionals involved, get the best professionals that you can afford in early.
6. Acting to late, don’t think the problem will go away or you will solve it. Act early and decisively.
7. Being nice or caring about other interests other than your own or your business or investment now is the time to be self centered and selfish. Once the business is stabilized you can go back to being nice and caring.
8. Don’t do things the same way, you need to change. Think like an outsider would.
9. Don’t spend your days worrying or being paralyzed by the workout, the company needs you at your best to turn the ship around.
10. Cut every non vital expense, but at the same time you need to bring in new income, so don’t make the wrong cuts.

H. Jack Miller

1/12/14

January 4, 2014

For Immediate Release:

Huntingdon Valley,Pa./Fort Lauderdale,Fl.

GFCIB and Advisors, LLC, a nationally recognized financial advocate and advisory firm for commercial real estate owners, developers, builders and mid sized businesses, announced that it has once again successfully negotiated a settlement on a Commercial Land development property in the Suburbs of Chicago, This property was purchased at the height of the market and consists of 12.5 acres with 544,550 sq feet of retail, with 8 separate parcels.

The lender was owed and obtained judgments against the ownership and guarantor’s individually for 5 Million Dollars unfortunately, the assets were underwater, the ownership had no way of completing the development. After years of legal and financial maneuvering on both sides GFCIB was engaged to represent ownership and negotiated a Deed in lieu of foreclosure along with a small token payment to the lender on the deficiency in exchange for full and complete releases.

This result was the best possible scenario for all, the bank wanted to stop spending money on a long legal battle and needed to monetize the property as soon as possible. The ownership group wanted to end the legal regaling as well with as little damage as possible

This was the third transaction GFCIB and H. Jack Miller represented this ownership group in, this deal closed on December 31, 2013. Ownership and bank both were pleased and grateful.

This was the best possible outcome for all involved said H. Jack Miller who handled the transaction with his team.

Protecting, advocating and satisfying the needs and desires of our client’s one transaction at a time.

For additional information contact:

H. Jack Miller
215-947-2974 ext 237
JackMiller@GFCIB.COM

Random thought about people

When people are content with having an average or below average performance its best not to try to change them.

I am asking for something I never had asked for before

If you do not know the name Gordon Zacks "Benjamin Ben Bluma", (look him up) he has been a one in a million kinda of guy,(maybe one in 5 Million)  a staunch supporter of Israel and American Jewish Life throughout  his life. He has given generously and founded and funded The Melton School, among other things, He also served as Ronald Regan and George Bush special advisers to Israel.  His book "Defining Moments", is a must read. He was featured in the book the Prime Ministers, and was the only one  PM Menachem Begin meet with after the historic Sadat meeting that evening. he has devoted his entire life to the Jewish religion and causes.  While I got to know him recently he took my son Noah under his wings.  As sick as he is with days on this earth he took the time to call my son yesterday and ask about something Noah and him were working on, and to encouraged Noah on his current path.

Gordon is committed to young Jewish leadership more than anyone I have ever meet. I could go all day about this man and how the Jewish people received him as a gift. He is without question a hero and one that cannot easily be replaced, he has been at the forefront of American Jewish Life and Israel for the past 60 years. He has devoted his entire life to the Jewish people in the most unselfish manner.

This great man's time on earth is numbered in hours or days, maybe a week or two, with prayers maybe longer and there is nothing that any man can do, but what I am asking is that we all say a prayer for him and not only that, we get others do to the same. Please forward or write your own email send it you your fellow Rabbi's and congregants. I can think of no better thank you to this hero, than to have thousands of people praying for him at this time.

I think after a life time of giving to our people he would take great comfort in the prayers of others for him, I want to get word to him what was done. So if I could  ask, please let me know if you partisipated and at what level, so I can try to get word to him. More important, please try to get as many people all over the world to say a prayer for him.

May we only have good news in the days ahead and may his work fighting for a strong Israel and Jewish leadership be realized.

Jack