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November 2012

Platinum turn cons inve

Case Study

Case Study Cash Flow Management Helps Manufacturer Avoid Shutdown

The owner of a successful, 20-year-old manufacturing business was finally seeing new demand for his products after the recent economic slowdown. However, the recession caused his customers in the foodservice and hospitality industries to stop upgrading their facilities, reducing his revenues by millions of dollars. The owner was rapidly burning through cash. He was about to shut down a 140,000 square-foot facility with more than 100 employees when he called Platinum Group for help.

Challenges:

  • The company had more than a $3-million backlog but unable to purchase raw materials due to severe cash shortage.
  • Refinancing with new lenders resulted in many constraints and reduced cash.
  • Vendors and suppliers had not been paid on a timely basis and were growing impatient.

Read how Platinum Group saved 150 jobs.

In the News

Mark Hoiland

John Hehre

Book Review Provides Insights for the Strategist in Your Company

Platinum Member John Hehre recently wrote a book review for the Manufacturers Alliance’s October newsletter on “The Strategist: Be the Leader Your Business Needs” by Cynthia A. Montgomery.

John writes: Many of us have been through strategic planning exercises. The top management team meets in a conference room, usually offsite somewhere. The meeting is frequently facilitated by a consultant. Everyone’s opinions are rearranged on flip chart paper. Nothing changes. Rarely are the discussions as deep, or the results as meaningful, as demanded by questions such as: “Does your company matter?” “If you closed its doors today, would your customers suffer any real loss? How long would it take, and how difficult would it be, for them to find another firm that could meet those needs as well as you did?”

This book provides a balance between a solid approach to strategy development and the leadership required to develop and implement it, according to John.

Read the full book revew in the Manufacturers Alliance E-Newsletter

In the Community

Tom Ahonen Joins the Cast of a New Holiday Musical

New Holiday Musical

Platinum Managing Partner Tom Ahonen is a cast member in a new musical production of “It’s a Wonderful Life,” based on the classic Christmas movie starring Jimmy Stewart. It will run at North Heights Lutheran Church from December 7 to 16. Dinner and show are available on Friday and Saturday nights.

“I’ve been cast as Uncle Billy – the guy who loses the money – which I promise will not affect my day job,” quips Tom. “Singing and dancing in a large cast, especially during the holidays, is a real kick for me. Come join the fun and bring your family and friends.”

Tickets for the show are available on North Heights Lutheran Church's website.

Getting to Know...Glaydon Iverson

Sharing Sports and Life With My Son

By Glaydon Iverson, Platinum Partner

Glaydon with his son Luke, wide receiver for Lakeville South High School football team.

I’ll have to say, I am a big sports guy. Although I don’t watch a lot of sports on TV, I do like going to games — especially if my son Luke is playing. As the parent of an active junior at Lakeville South High School, my life is heavily involved in attending sporting events, which I thoroughly enjoy for a number of reasons.

First and foremost, Luke is my only child and I’m glad that he has fun playing multiple sports, like participating in a fall basketball league even though he’s on the high school football team. As a youth, I too played a variety of sports: football, basketball, baseball and golf. And so, we share this emotional tie to the love of sports. Luke laughed at me when I got all nervous and pumped up for his first football game of the season as I remember the days when I played. Love that pre-game excitement!

Another good reason that I love going to the games is that Luke likes it when I’m there. Being there is half the battle with teenagers these days. It creates another line of communication for us — a time to talk with him and ask questions without getting too intense. When I was a kid, parents did not always take time off to watch their kids play in sporting events. Now, most parents are there all the time and we all know each other, and I look forward to socializing with them while watching the game.

Best of all, being involved in sports is a great learning experience for my son. Sports encourage teamwork, camaraderie and social skills. Luke is learning discipline that will help him in life, such as the commitment to daily practice, the work effort needed to succeed, and always showing up on time.

The highlight of my days is watching my son play sports. He’ll soon be off to college and then I’ll need to find another focus. But until then, I don’t want to miss a game!


Platinum Group
952.829.5700 • 9855 W 78th Street • Eden Prairie, MN 55344
www.ThePlatinumGrp.com

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