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With incentives like that, it is no wonder that European private-equity managers have the stomach to restructure businesses which executives of listed companies leave alone.But to earn such sums, private-equity managers have to bear far more risk than their counterparts in public companies do.
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They understand the need to restructure business in response to external competitive pressures.
But he and others note that while the public does not want to fundamentally restructure business, it wants executives to play by the rules.
Andrew Stettner, deputy director of the National Employment Law Project, said downturns often motivate companies to restructure business models permanently, meaning jobs they cut now are unlikely to be replaced.
If we don't restructure business culture, we're going to keep losing the talented people we've paid money to train.
The disruptive part comes after adoption because the technology now creates the option of restructuring businesses and moving to very different operating practices.
But now, after the bankruptcies and busts, the survivors are back from the dead, and some gurus say these restructured businesses look lean, mean and ready to make money.
"We are very busy, and we are investing heavily in our European restructuring business," Dick says.
(Mr. Millstein, a former top executive of Lazard's restructuring business, left Treasury in February).
As expected, Lazard's restructuring business continued to decline, as fewer companies filed for bankruptcy protection.
In a written statement, El Paso said, "Our restructuring business has been thoroughly disclosed over the last three years".
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CEO of Professional Science Editing for Scientists @ prosciediting.com