This Article first appeared in The Journal Record, February 5, 2009.
In recent months, several people have quoted that great American economist, Yogi Berra, in comparing the economy in 2008 to that in 1982: “It's like déjà vu all over again.”
Truer words have not been spoken.
Fortunately, though, experience is one of the best teachers. And so recently, several of my colleagues and I – lawyers who spent much of their time in the „80s assisting borrowers and creditors with complex, high stakes financial workouts and business restructurings – sat down to share stories of our past experiences, reflect on the similarities and differences in the markets then and now, and discuss what businesses should be doing to prepare themselves for a long, flat summer and beyond.
Article authored by McAfee & Taft attorney: Chris Coleman.
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