Business Turnaround from Insolvency
Patrick: We have learned the following: that our clients are primarily under twenty million annually. They’re confused, they’re upset, and they’re alone. The backbone of America, the people that pay taxes and work every day have families and they wonder where their kids are gonna go to school and how they’re gonna retire and if they can. Those people are under twenty million. They will fail continually without infrastructure around them.
My name is Pat Rettig and I help companies that have been left for dead. Nobody wants these companies, nobody can help these companies. The bank has given up on these companies, an attorney cannot help these companies, the chapter eleven case cannot help these companies. These people are my people. When I started, it was overwhelming. I would hear these people say something and I would think to myself “well you haven’t paid any tax in five years and you’re upside down on your house, you’re in a divorce, your life doesn’t… yep, you’re right, you ain’t gonna make it.” But I can’t say that. Why not? Because I don’t believe it. They didn’t come all this way, so they could die a horrible death. I don’t believe it. I don’t believe it. So, we take each problem a step at a time.
John: I was feeling pretty desperate, depressed, figuring I was gonna lose everything. I’m not just gonna lose my company, I’m gonna lose my life.
Anthony: Things were going okay and then in the fall they just, they just tanked to the point where I was sitting at my desk crying. I was just like this isn’t gonna make it.
Mark: Patrick and the team helped me save my company at a time where nothing really made sense. The first time I met Pat, he showed up in jeans with a biker keychain and a wild fro on the tarmac at Camarillo airport. You could imagine the first impression. Who is this guy? What am I doing? What’s going on here? This is odd, to say the least.
Patrick: In a given day, there could be as many as fourteen or fifteen locations that I need to be at. So I have two airplanes, they are exactly the same. So that when one is broken, I have another one. I could get to work. What a quality problem. Darn it, the plane is broken. I have to get the other one. I ride a Ducati, that is a superbike. I ride it to work. It is my company car. My office is a reflection of what God made me. I’ve played rock’n’roll all my life. All the equipment, it’s all here in my office. Why play rock’n’roll? Why ride motorcycles? Why have train sets? It occurred to me, that if I do the things that I am, I’m better at everything.
Julie: When I first started working with Patrick, I would’ve thought it was about the numbers. He comes at the person. He comes at the root of the problem or problems.
Jordan: Is it home life? Is it no balance in the CEO’s life? Is it, we call it the four headless horsemen? Right? Is there drugs? Is there alcohol? Is there going out on the wife? Is there gambling? These things will all kill a company. And so we need to address that for the company to be successful.
Steve: Working with Patrick, I learned that most of the people who do bankruptcy do it completely backward. From my chapter eleven’s over the years thought everything the bankruptcy code says to do it, I have a lot of successful bankruptcies and failed companies.
Regina: Most of the time, by the time we get to the CEO, they’re just trash. There’s nothing left of them. They’re emotionally depleted, they’re financially depleted, all their resources are depleted. There’s really not much left of them emotionally or spiritually by the time we get to them.
Patrick: I’ve seen your financials and you’re gonna be fine. We’re gonna make it fine.
Anthony: When you said: “Anthony, I’ll only make you a few promises and one of them is you’re gonna be okay.” And when you said that, I just fell on the floor right there. I told my wife that, I said “he said we’re gonna be okay.” And I hadn’t heard those words in years.
Patrick: We start. We start today and today gets better.
Regina: We’ve never had a single company fail as long as we were there.
Patrick: If we can change the world one company at a time, one CEO at a time, if we can teach him to live his life right. Family first, business first. Don’t expect the company to do for you what you can’t do for yourself. Tell the truth to the right person at precisely the right time. Be supportive. If we can teach that, one company at a time. Maybe, maybe we can save this crazy plant that God gave us. Maybe we can make things a little bit better.
About the Rettig Corp:
Turning a business around is not for the fainthearted and you don’t need to go it alone. For more than 25 years, The Rettig Corporation has guided business owners to safety, transforming companies throughout the Western United States. Our approach is direct, immediate, and essential to the successful transformation of your balance sheet. Creditors, family members, and employees gain confidence almost immediately and the hard years begin to fade into memory.
Our exceptional teaching and coaching skills, as well as our expertise in implementing systems and controls, set us apart from other turnaround specialists. We help you evolve financially.