Turnaround Management Association of Nevada - Dedicated to Corporate Renewal and Turnaround Management

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Jane Lubarsky
TMA Nevada Administrator
jane@tmaofnevada.com 702-403-3162

TMA of Nevada
4075 South Durango Drive
suite 111 - pmb 82
Las Vegas, NV 89147

STATE OF TMA NEVADA TODAY
Presented at the TMA Nevada Award Night: January 26, 2010
Las Vegas, Nevada
By Pamela Joy Ring, president

Good evening TMA Nevada members and friends. I am honored to stand before you as president of the Nevada Chapter of the Turnaround Management Association. I am Pamela Joy Ring and on behalf of our board of directors, welcome to our second appreciation night dedicated to celebrating and recognizing the outstanding achievements of our members and sponsors in their professional endeavors and in their volunteer citizenship work for our chapter.

As I look out around this room, and I know as my fellow board of directors are looking around as well, we are honored by your presence here tonight. We know all who sit in this room to be accomplished and esteemed professionals in our business community and you honor our organization by your being here.
Thank you.

I would like to take a moment to introduce our wonderful board of directors. We would not be here tonight ladies and gentleman without the efforts of these fine individuals. From membership to sponsorship to stewardship, these folks have given their time, talent and on numerous occasions have generously stepped up to the plate with funding to help make our programs a reality for our members.

I ask that they stand as I call their names, remain standing because they deserve a round of applause at the end of my introduction. They are in alphabetical order: Mark Cenicola, president, CEO and co-founder of Bannerview.com; Bill Granda, regional director of Paradigm Associates; Mike Mazur, president and CEO of Lawrence Nathan Associates Inc; Bob Olson, shareholder with Greenberg Traurig; Mary Peterson, president of Right Size Communications and Marketing; Bill Stieren, vice president with Allied Business Intermediary International and Patrick Wisman, vice chairman, president & CEO of SouthwestUSA Bank. And to members who were unable to be with us, our Reno-based member, Mike Anderson, managing director, H. Roark and Associates, and Brett Axelrod, shareholder with Greenberg Traurig. Please all give them a hand!!!

There are some special things I want to bring to your attention about TMA in general and our chapter specifically: The Turnaround Management Association is the only international, non-profit association with more than 9000 members dedicated to "corporate renewal and turnaround management".
Based out of Chicago, the organization is now 21 years old. Our core membership is comprised of professionals: attorneys, accountants, bankers and practitioners expert in helping financially troubled companies navigate their way to some practical resolution if not a new path of growth.

There are a total of 46 chapters worldwide, 32 are in North America. And in a year marked by declining memberships in so many organizations, there has been a stunning increase in general in TMA membership this year and that is because of the rise of international chapters in our organization. Our 14 international chapters are in: Australia, Brazil, the Czech Republic, Finland, France, Germany, Italy, Japan, the Netherlands, South Africa, Spain, Sweden, Taiwan and the UK. Currently there is a chapter formation in Hong Kong China!

However, the story of Nevada gives an additional and unique dimension to the TMA mission. As a fellow neighbor and business professional who has lived in Las Vegas for 27 years, I have witnessed like many of you, the pivotal changes and rapid growth in our socio-economic landscape. They have been nothing short of breath-taking if not miraculous. However, our community has stumbled in the last two years. We do not have to look very far to see the myriad of financially troubled businesses that have fallen victim to the lure of high growth at the expense of the big picture. Let's face it, if you do not grow your business right, you are going to need to be turned around.

If there was ever a time to help our businesses resolve the challenges of growth gone stunted in the wake of today's economic climate, the time is now and TMA Nevada is the organization up to the task.
As a result, the membership of TMA Nevada is not only comprised of the talented professionals that are at the heart of the organization, but also business owners and executives who want to be better professionals. In fact TMA Nevada is one of the fastest growing chapters in the U.S.

There's a "buzz" in this town about TMA Nevada. There's an energy at our monthly events that many of us find unique relative to other business organization gatherings. I can't tell you how many conversations I have had with fellow members and guests at our events that attest to this fact. What is it? What makes us different? Here's the recipe:

First: Pedigree of membership: The composition of professional experience, competency and talent of our members.

Second: Membership has its privileges: Our being a part of an international organization automatically opens doors for each one of us. The social dynamic of TMA national works similarly to a fraternity or sorority.

There is a built in referral network around the world. TMArs will think of their TMA brethren first when they need collaboration on a project before going elsewhere. I have seen it and experienced it first hand.

The third ingredient in our Recipe: The Nevada Chapter Experience:
There are three core missions at play in everything your board of directors plan. And these missions are based upon the 2007 strategic planning session in which all members participated. You wanted:

To learn how to be better business professionals, particularly where issues of companies in distress or in fast growth were concerned
That your TMA Nevada experience should be relevant to where you live, right here in Nevada particularly in Las Vegas.
That your TMA experience should offer you opportunities for enhancing your local business prospects.

Well that's what you wanted and in 2008 and 2009 we delivered. And the magic, the secret ingredient of this recipe is HOW we delivered:

We delivered with quality and content in our evening events and round table breakfasts and with the quality of our panelists and guest speakers. But there is something even more special. Our events are dynamic and not stagnant. It doesn't matter if we have a panel, single speaker or a roundtable breakfast. All of the experience delivered to you always calls for you to comment and question during the event. Rather than just being a passive audience whose opportunity to participate is with a Q&A at the end. It is this dynamic that allows all of us to get to know how we think, articulate and lend insight into our respective professional prowess.

Furthermore, this dynamic continues to be in play after the conclusion of our events. How many of us stay on and continue the dialogue---just about all of us. This is the special ingredient, this dynamic!

But you Nevada TMArs are not just about talk...no you walk the walk. You were jettisoned to take action by three events last year. In February and March we had a packaged series. Starting with February's State of the Economy and the Gaming Industry with a marquis-named panel, and followed by a roundtable breakfast discussion in March. It was the time when the president of the United States had publicly remarked on dissuading convention and meeting business in Las Vegas. We have long discussed whether his remarks were the proverbial salt that was placed on an already open wound. But these three events jettisoned our members to form an action committee. The purpose was to determine how TMA Nevada, within the purview of its mission, could perform a public service to our local community who was suffering financially and with its morale at an all time low. Our action committee was comprised of TMA members Dave Taketa, Peter Bhatt, Mike McGinnis, Howard Pearlman, Philip Cohen, Bill Granda, Diane Dutton and me. We met many times, with a determination of not duplicating and conflicting with the efforts of neighboring organizations. Finally, in August over the inspiration of some drinks and appetizers we hit pay dirt!

Nevada has grit. Nevada has the stuff to show that when the going gets tough the tough get going. Nevada needs to remind itself that it can fight back with positive results. Nevada needs to be morally uplifted by example. And in this thinking is the right stuff of what it takes to make a successful turnaround! So we developed a feel good series called, Nevada's Turnaround Grit with a focus on local, marquis companies who have been up against a wall and actually pulled a rabbit out of their hat. Whose story perhaps can serve as morale-boosting inspiration for our community. We intended to feature this series every quarter.

Thanks to fellow board member, Bill Granda, I call him our secret agent in the field...Bill, we've got to give you a 00 number...we landed the grand daddy story of them all as a first kick-off, MGM Mirage and Senior Vice President, Alan Feldman. What a story...we were all riveted...the timeline and benchmarks are exciting enough to make a movie.

Next month, thanks to Bill, we will be featuring Harrah's Entertainment Inc: The subject: The Challenges of Debt Restructuring & Expansion in the Face of a Troubled Economy and both Jonathan S. Halkyard SVP, CFO, Treasurer, and Interim Chief Accounting Officer and Jan Jones SVP Communications/Government Relations will be our panelists. More about that later.

So, this series is a testament and a sample of the passion and commitment of our members, and is a shining example of our board of directors' respect for building an organization that is responsive to its members needs. And I consider that combination a fourth ingredient in our recipe of what makes TMA Nevada special.

Please join me in giving a round of applause in thanks for the work of our action committee.

And speaking of being special: TMA Nevada has a volunteer committee who has been vital in keeping the heart beat of the chapter going and I would like to acknowledge and thank them. They all have been instrumental in being the welcome wagon to all guests at our events and instrumental in building membership. They are in alphabetical order, Peter Bhatt, Philip Cohen, Diane Dutton, Bill Granda, Mike Mazur, who has spearheaded our membership adopt a buddy program for two years, Alice Ronconi, Evon Stevenson and Dave Taketa. Ladies and gentlemen, let's give them our thanks with a round of applause.

All of you who are members have an open invitation to join our volunteer committee. The more of you involved, the bigger a resource we create that will enable us to deliver more benefits to you. Let's face it, TMA is a volunteer organization and what we produce is a function of the time we all have to give to it. So the more of you who can give us some time, the better our chances for growth and sustainability.
Please see me with your interest.

I have to do a side bar with you all...May we talk operations for a minute...

I am very proud of this organization. I guess you could never tell...but I am because of my board of directors. We run this organization like a well run business. We are a small chapter and have modest coffers, particularly in this economy where money is tight and sponsorship is challenged. We are all limited for time and yet we have that Nevada grit. There is an esprit de corps amongst us based upon respect, talent and genuine affection. Whenever we see a problem coming on, we rally together and devise a practicable solution. No one on this board drags their feet, everyone rolls up their sleeves. So let me tell you about some of the great things these folks do:

Mike Anderson has been a member of the board since 2007, he has been a stalwart of this organization particularly in its fledgling years and he has been chair and co-chair of overseeing and managing all the events in these years.

Brett Axelrod, who is our corporate secretary, and Bob Olson, who had served as our former treasurer, have served on the board since inception. They have offered their sage wisdom in so many of the sometimes prickly decisions and communications we have had to make. They have been angels to our organization through the law firms for which they have been associated, and have been instrumental in finding top panel talent and sponsorship for our events.

I am happy to report that under this board's watch, although a modest number, our bank balances have more than tripled. Bill Stieren is our treasurer. Under Bill's watch, we transferred from a Quick Books-like cash accounting system to accrual accounting and have great control and accountability in managing our finances. This board watches every dollar that comes in and out like a hawk. Bill, thank you.

In 2008, we developed our website, HYPERLINK "http://www.tmaofnevada.com" www.tmaofnevada.com and designed it to support our members and their business prospects with our membership directory which offers detailed member profiles for the world to see and encourages their business prospects. The website is so well done and rivals that of any business organization, and we want to thank fellow board member, Mark Cenicola and his team at Bannerview.com for being so generous with their time and talents to our chapter. Mark also co-chaired tonight's event giving untold hours of his time and the resources of his company to make it happen.

Bill Granda joined our board this past year. His history with TMA Nevada goes back to his being an active volunteer who has led our speaker program and who has been vital in our program planning and execution. Bill has provided strong shoulders in getting things done and is currently working with Mark Cenicola, Mary Peterson who you will meet in a moment, and me in executing our marketing program and pr campaign this year.

Pat Wisman, has been the voice of reason and an angel to TMA Nevada. He is the only certified turnaround professional in Nevada and has been a member of TMA dating back to his days in Pittsburgh almost to the days of the start of national. Pat and SouthwestUSA have been both annual and event sponsors. Pat has organized great panels over the years. He has been a great public advocate for the organization.

Let me introduce our two newest board members, Mike Mazur and Mary Peterson. Mike over the past two years, has spearheaded our volunteer committee in its adopt a buddy membership drive and he will be assuming the chair of membership as board member. I am finally happy to say that TMA Nevada will no longer be the best kept secret in town because we have pr pro Mary Peterson as board member. Mary will be the editor in chief of our monthly e-newsletter, The Work Out and will be in charge of promoting us.

You know, it's a real good feeling for me to see how far we have come. We have learned that there are not many local non-profit business organizations that plan their events out for the year and post them on their website. Nor are there organizations that have a dynamic and informative website such as ours. To know that we have improved our bank balances, to be able to invest in pr and marketing, to be able to build and expand a board, to be able to have engaged members. And to boot, your board met in November of 2009, and devised a strategic plan that will take us to 2013. These accomplishments are all something this board and its members should take pride in. Not bad for being so young and for being a small chapter.

If what you have heard so far hasn't impressed you (it should), wait till you hear what's on tap for the rest of the year as the evening unfolds.

As you can see the evening is certainly not devoid of name dropping. But TMA Nevada's accomplishments are a direct result of the team work of all the great people I have referenced.

For our organization and for our member community, 2010 and the years beyond hold the promise of the continuation and building upon all that we have achieved so far. In this my last year of stewardship, I pledge to continue to deliver, improve and expand upon the programs and benefits you demand and deserve with a view towards growing our professional lives and business community in the right way.

I look forward in the near future to our turning around and saying, "We are all the better for knowing each other and for our association with TMA Nevada".

I NOW WOULD LIKE TO TURN THE PODIUM TO OUR ESTEEMED EMCEE, ATTORNEY GENERAL CATHERINE CORTEZ MASTO

Let's let the evening and the year begin...
Thank you