The World is Falling Apart – Part I

Day 1: Welcome to my blog. I recently joined Santos, Postal & Company, P.C., a well regarded C.P.A. firm established in 1971, as a Principal. I will be responsible for developing a consulting practice for the firm that will specialize in the following:

 Assisting with renegotiating and restructuring commercial and personal debt obligations,

 Working with retailers to bring their rent in line with appropriate rent to sales ratios that have been dictated by the declining financial markets,

 Helping homeowners restructure mortgage loans that no longer make sense based upon the values of their homes and other extraneous information that has caused financial hardship,

 Renegotiating personal real estate taxes due to the declination of home values,

 Providing operational and financial support to clients in need of someone who can plan strategically, and

 Managing the future wealth of clients via prudent, long term wealth advisory consulting.

I am very excited about being affiliated with reputable and distinguished firm and more importantly, being able to bring my turnaround management/restructuring/workout skills to businesses and individuals.

Today’s heading is only particularly true. The world has not completely fallen apart; it’s merely very sick. Kind of like having a bad flu.

Unemployment is clearly higher than the government statistics allude as they do not take into account part time employment, under-employed, or those who have given up completely on finding a job and become “self employed”.

Home values have declined precipitously, credit availability is nil, wealth has been decreased, Wall Street greed still exists (not sure how they will implement it these days), and the government’s answer to all of this is spend, spend, and spend some more.

As I post more entries I will illuminate upon the clients I work with (always marinating strict confidentiality and never posting without getting permission to discuss a subject).

As I’ve only been with SantosPostal for three weeks, I’m still getting acclimated. The people here are very smart and have been very welcoming of me. I’ve already been working on situations that include assisting a builder whose loan matures in late summer 2009 and needs help renegotiating with his lender, an individual whose circumstances have caused a need to have their debts managed, and another person in arrears on their mortgage who is afraid of losing their home. I look forward to bringing my 26 ½ years of experience to the table and being able to help these people in need.

As experience has shown, while the situations I’m working on are very serious, there is usually humor that occurs in the conversations I have with lenders. The more bureaucratic an organization the greater the chance that something humorous will occur. If I won’t violate my confidentially rule, I look forward to entertaining you with some of these stories, as well as keeping you abreast on what’s occurring in the credit markets, how landlords are reacting to various proposals to restructure rents, and some turnaround management situations so that readers of this blog will both learn something valuable and enjoy reading the stories.




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