As we pass the halfway point of 2019, our industry still ponders where we are in the current economic cycle and if signs of change are finally on the horizon. Default rates remain low, and capital is still abundant in most sectors. Interest rates have plateaued, and the Federal Reserve has already signaled the potential for a rate decrease by the end of the year to sustain the current expansion. Could trade wars, tariffs, and geopolitical tensions finally push our economy over the edge? Like the looming wall of debt maturities that never arrived, the end of this economic cycle has been equally elusive, a distant dot on the horizon.
Thankfully, we in the turnaround and corporate renewal industry don’t rely solely on insolvencies to keep ourselves busy. Rather, we put our broad skill sets into action to help companies in earlier stages of underperformance and stress. We assist with healthier M&A activities, due diligence, refinancing and capital raise strategies, risk management protocols, and commercial litigation matters.
With signs of distress appearing to be few and far away, now is also the perfect time to sharpen your skill sets and to re-engage with your referral sources and nurture those relationships that have or will lead to future business opportunities. TMA is here to help.
On the horizon are many excellent local, regional, and global opportunities to enhance your knowledge, add to your toolbox, and connect with your referral sources. Spanning coast to coast, events include the 15th Annual TMA Northeast Conference August 28-29 in Saratoga Springs, New York, and the Northwest Chapter Cross-Border Conference October 3-5 in Portland, Oregon.
Also, on the horizon, and getting closer by the minute, is TMA Global’s 31st Annual Conference in Cleveland, Ohio, September 25-27. As you have heard by now, The Annual will feature a closing reception at the Rock & Roll Hall of Fame, in addition to high-quality education sessions, networking receptions, and a golf outing. The buzz around The Annual is getting louder as it approaches, and you will not want to miss the action as TMA rocks Cleveland.
Across the oceans, TMA has several high-profile international programs coming up. TMA Australia presents its 2019 National Conference in Melbourne September 11-12. In London, TMA Europe is hosting its annual Distressed Investing Event September 18, and TMA UK holds its Annual UK Conference November 14. Each of these programs features world-class educational content with delegates from the premier turnaround and restructuring firms in their regions.
With the globalization of our clients and the continuing harmonization of insolvency laws around the world, I encourage all TMA members to explore our international chapters’ programs and make connections with TMA members beyond North America. Our shared vision of corporate renewal and rehabilitation sets TMA apart from other insolvency organizations, and our members’ cross-border connections facilitate opportunities to coordinate on global restructuring matters and distressed M&A.
Keep your eyes focused on the horizon as we continue to sail through 2019. TMA has more exciting programs and offerings in store for all members. While we wait for the inevitable uptick in restructuring activity, let’s continue to position ourselves by staying in front of important developments and innovations through TMA’s educational offerings and by cultivating our close referral sources through TMA’s networking programs. As always, TMA is here to help you succeed.