PROFNET EXPERT ALERTS: Business & Technology

1. Automotive: Implications Surrounding GM's Bankruptcy
2. Business: What Companies Should Do to Find and Fix Operational Flaws
3. Business: Corporate Boards Becoming More Sensitive to D&O Policies
4. Environment: Waxman-Markey Bill: Greenhouse Gas Emissions
5. Finance: Revised Conduit Rating Methodology
6. Finance: Resecuritization is an Important Option for a RMBS Revival
7. Personal Finance: Tax Help for GM/Chrysler Employees with IRS Debt

1. AUTOMOTIVE: IMPLICATIONS SURROUNDING GM'S BANKRUPTCY. JEAN ROBERTSON,
partner at CALFEE, HALTER AND GRISWOLD, based in Cleveland, leads the firm's
national bankruptcy practice and is a veteran automotive industry legal
expert. She can discuss the implications surrounding GM's bankruptcy,
including the impact on the economy and jobs, and the fallout for suppliers,
car dealerships and unions: "A GM bankruptcy filing will not only change the
way we build and sell cars in the United States, it will also change the way
we do business in this country. Company owners have a say in how their company
is run -- it's one of the golden rules of capitalism. As far as I know, there
isn't a 'governmental exception' to this golden rule. We have to accept the
fact that our government owns an entire core American industry and prepare
ourselves for all the good and bad that comes with the reality of our
government having a voice in how that industry is run, including the fact that
it may compromise capitalism and challenge what we consider to be fair
treatment. Put on your seatbelts." News Contact: Kate Eidam,
keidam@fallscommunications.com Phone: +1-216-472-2390 (6/1/09)
2. BUSINESS: SURVIVING THE RECESSION: WHAT COMPANIES SHOULD DO NOW TO FIND
AND FIX OPERATIONAL FLAWS. PETER TOURTELLOT, managing director of ANDERSON
BAUMAN TOURTELLOT VOS, a Greensboro, N.C.-based turnaround management company,
has worked with companies in every kind of distress for 20 years: "Companies
that aim to ride out the recession and position themselves for competitive
strength when brighter days return should do a self-assessment now to see if
they are committing any of the 'seven sins' of business behavior, searching
out internal weaknesses and correcting them. The top 'sins' for businesses
include dependence on a few large customers, seat-of-the-pants management,
relying on a new product or service to shore up the business, and denial,
among others." Tourtellot can provide expert advice to business leaders
dealing with the devastating impact of the economic downturn and help them
understand the importance of taking a hard, honest look at internal operations
now before edging any closer to the brink of extinction. News Contact: Martha
Murphy, martha@thebloomagency.com Phone: +1-336-397-5407 (6/1/09)
3. BUSINESS: CORPORATE BOARDS BECOMING MORE SENSITIVE TO D&O POLICIES.
SHELLEY GLAZER, insurance litigator at THOMPSON & KNIGHT in Dallas: "The
increased scrutiny of federal regulations and the economic downturn are
forcing corporate officers and directors to accept more accountability and
liability. As a result, the individuals who are willing to serve on boards are
demanding more information about the limits and quality of a company's D&O
policies. Virtually every policy contains exclusions for actions such as fraud
and self-dealing, but the specific language can have critical implications.
Some boards may mistakenly think they have adequate coverage when that is not
the case. Directors with an understanding of these policies will be better
positioned to negotiate for the coverage they really need." News Contact:
Barry Pound, barry@androvett.com Phone: +1-800-559-4534 (6/1/09)
4. ENVIRONMENT: WAXMAN-MARKEY BILL CALL TO ACTION: MEASUREMENT OF GREENHOUSE
GAS EMISSIONS. LARRY GOLDENHERSH is founder, president and CEO of ENVIANCE, an
Internet-based system for the collection, distribution, analysis, and
reporting of environmental, health and safety data. As the Waxman-Markey bill
makes its way through Congress and the U.S. appears poised to embark on a cap-
and-trade system to curb greenhouse gas emissions, Goldenhersh can address how
companies can begin the measurement and reporting process: "As reporting
shifts from 'if' to 'when' the cap-and-trade system will be established,
perspectives and experience on how to manage carbon's impact on the corporate
balance sheet will be critically important. As carbon becomes an economic
force in the United States, all sectors of society are struggling to cope with
the changing paradigm. In this transition, however, one thing is clear: The
fundamental prerequisite to any meaningful effort to manage GHGs is the
implementation of a system that produces auditable, verifiable, standardized
GHG emissions data. All stakeholders need this standardized measurement
capability." Goldenhersh is available to discuss the steps companies will need
to take in order to fully understand the magnitude of their carbon emissions,
the frequently overlooked areas within an organization that have a significant
impact on the company's overall footprint, ways in which companies can
effectively reduce carbon emissions over time, and the ways in which a carbon
economy will change both the environmental and the business landscape, as
companies learn to use carbon to their competitive advantage. Goldenhersh and
Enviance are based in San Diego. News Contact: Tori Pugliese,
tori.pugliese@cohnwolfe.com or TeamEnviance@cohnwolfe.com Phone: +1-212-537-
8023 (6/1/09)
5. FINANCE: REVISED CONDUIT RATING METHODOLOGY. CRAIG LIEBERMAN, managing
director of commercial real estate at NEWOAK CAPITAL, LLC, a New York-based
advisory and asset management firm: "S&P certainly chose an interesting time
to announce their request for comment on a revised conduit rating methodology.
We were barely a week into a strong rally in commercial mortgage-backed
security, prompted by the announcement of the TALF for secondary CMBS terms,
when this bombshell came out. They've spooked the market by potentially
rendering a majority of the collateral out there ineligible under the current
terms. It's not certain what anyone will do, but I doubt the government will
allow the program to be stymied by this issue. They may revise their stance on
current ratings and move to include senior cash flows that were originally
AAA, irrespective of the current rating." News Contact: Marisa D'Vari,
MDVari@newoakcapital.com (6/1/09)
6. FINANCE: RESECURITIZATION IS AN IMPORTANT OPTION FOR A RMBS REVIVAL. SAM
WARREN, director in charge of RMBS structured solutions at NEWOAK CAPITAL,
LLC, a New York-based advisory and asset management firm: "Resecuritization is
an important option for a RMBS revival. Senior prime and Alt-A bonds were
often 80-95 percent of the entire capital structure because the market
believed that 5-20 percent of subordination was more than adequate to cover
losses, and that convexity (prepayment) risk was a greater concern. Now that
credit is the primary focus, bonds need to be restructured to better optimize
the allocation of credit risk and the yields buyers are willing to accept for
that risk." News Contact: Marisa D'Vari, MDVari@newoakcapital.com (6/1/09)
7. PERSONAL FINANCE: TAX HELP AVAILABLE FOR GM AND CHRYSLER EMPLOYEES WITH
IRS DEBT. BRIAN COMPTON, president of TAX RESOLUTION SERVICES, and tax relief
expert in Los Angeles: "The looming General Motors bankruptcy could
financially cripple GM workers, retirees, pensioners, and those owed money by
the company. Employees of GM and Chrysler who have lost their jobs may
personally need to consider bankruptcy to forgive debts they cannot afford to
pay, including back income taxes. It's a complicated process, and I recommend
consulting with an experienced professional to help determine if your taxes
are eligible for discharge in bankruptcy. For those who owe a significant
amount in back taxes, bankruptcy may not be the best option. They may need to
consider other tax debt settlement options that would essentially achieve the
same financial outcome as a bankruptcy without damaging their credit report
for 7-10 years." Editor's Note: Compton has a profile listed in the ProfNet
Experts Database. To view the profile, go to http://www.profnet.com and, after
logging in, click on "Search Expert." News Contact: Debbie Edwards,
debbie@taxresolution.com Phone: +1-866-477-7762, ext. 326 Web site:
http://www.taxresolution.com (6/1/09)
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