Friday, February 22, 2008

The hottest business on Wall Street

From Fortune:

When lenders stop asking for golf dates and start throwing F-bombs, it's usually time to find a restructuring firm. Among the small number of bankers and CPAs who specialize in this practice, New York's Alvarez & Marsal is often the first phone call for these sweating execs - and it's already profiting from corporate America's credit-market misery.

Alvarez & Marsal do the mopping up when a company has run out of options and can't meet its loan obligations. With some clients, A&M dispatches teams to work much like consultants - looking over the books and talking ideas - but about a hundred times faster....MORE