By Dean Bachelor, Founder and Chairman It was the year 2010. The Great Recession of 2008–2009 had created an opportunity for Platinum Group to help banks deal with their troubled credits (loans). Years ago, we formed Platinum Receiver Services to facilitate receiverships capable of addressing the disposition of assets that banks require when they are near or at foreclosure. We received a phone call from […]
By Tom Hubler, Executive Consultant Jim was rightfully proud of his company. He had nurtured it from a garage start-up to an enterprise generating $40 million a year in sales. To ensure a smooth transition, Jim met monthly with Robert to review the company’s performance. At one such meeting Jim noticed Robert’s last item on the agenda: “Jim’s Schedule.” When they got to it, Robert […]
Finding great talent today is more challenging than ever for a variety of reasons, including the fact that just about every industry is now experiencing this dilemma. If you’re looking for great talent—or if you’re looking for the very best place to work—watch or listen to this discussion with: Bill English, president and CEO, Accurate Home Care, Otsego, Minn.; David Magy, principal and co-founder, Abeln, […]
Business In The News is a compilation of business stories from around Minnesota and neighboring states usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful. New Owner of Duluth Paper Mill Receives City Support The Duluth City Council has agreed to abate up to $600,000 in property taxes over 10 years and […]
By Bill English, Partner Proverbs 23.4: “Do not wear yourself out to get rich; have the wisdom to show restraint”. Hmmm… Are you serious? Turn away good customers who are ready to buy my products and services? Perhaps. Work less even though I could make more money? I think so. Restrain my sales team? Yep. Think about it. Here are four, good reasons to not […]
By Tom Hubler, Executive Consultant Over the past 30 years as a family business consultant, I have come across many differences that have eroded family relationships. One involved Uncle Joe and his nephew, Bruce, as they were going through a painful succession planning process. In addition to the typical family business issues of ownership, estate and leadership, they were grappling with matters related to family […]
By Dean Bachelor, Founder and Chairman More than a decade ago, our country was showing signs of recovery from one of the deepest and most significant recessions in American history. They called it the “Great Recession.” It was deep and broad, and it affected almost every business in the country. It began as a sub-prime real estate correction and led to one of the largest-ever […]
By Steve Coleman, Partner We are feeling new life as green is budding out. Eagerness to hug our loved ones brings tears of joy after so long being isolated by social distancing. We are coming back together. Even with economic disruption and COVID-19 these past 12 months, we are learning new ways to live more humanely. Enduring the losses and stresses of the pandemic has […]
By Bill English, Partner I was talking with a colleague this morning about common threads in businesses that need to be turned around. One we briefly discussed pertained to risk and agency cost—the ability of a key employee, owner or partner to engage in activities that are personally beneficial but hurt the organization. Such benefits can range from what they buy with company dollars and […]
Business In The News is a compilation of business stories from around Minnesota and neighboring states usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful. Startup Lures Buyers with Catchy Products Crystaleyes Fishing, a 2013 startup created by two high school teachers working out of a Worthington, Minn., garage, has grown into […]