Lazard's revenue from restructuring advisory, meant as a counterbalance to deal activity, jumped nearly 400percentt over the same time last year, to $119 million.
And while both companies strive to make a social impact, they're definitely for-profit ventures hoping to earn revenue by restructuring activism.
Congress should take action now to pass legislation phasing in tax reform that yields new revenues and restructuring entitlements to curb the continued growth of federal spending, particularly for health care.
Restructuring revenue fell 54 percent, to $47.8 million, from the period a year earlier.
That virtually offset the inevitable decline in revenue from its restructuring business as corporate defaults have slowed.
Lazard reported a 58percentt gain, to $32.3 million, in financial restructuring revenue, compared with the period in 2006.
Next, he looks for catalysts that can bolster a stock price, like accelerating revenue, a corporate restructuring, an acquisition or a large share repurchase program.
"The correlations between U.S. and foreign investments are cyclical in part," he said, adding that "companies with local revenue sources or restructuring opportunities" do not move in lock step with the Standard & Poor's 500-stock index.
According to the Huron Consulting Group, a Chicago firm focused on corporate finance and restructuring, revenue recognition problems were behind 85 of the 381 accounting restatements of public companies in 2002.
AOL said depleting advertising revenues and high restructuring costs led it to post smaller profits and revenues.
