The Real Deal Miami

‘Silver Lining’ seminar offers strategies for distressed economy

By Jennifer LeClaire | April 15, 2009 03:02PM

The market is down, but there are plenty of experts who aren’t out, and the Miami Finance Forum will gather them together to offer insights at a Thursday seminar.
 
Sponsored by Miami law firm Akerman Senterfitt and Miami financial services firm Ladenburg Thalmann, the event brings together experts in the private equity, hedge funds, investment banking, asset management, commercial banking, legal and related industry sectors to discuss opportunities for investors, corporations and entrepreneurs in today’s economic environment.
 
“This seminar is an effort to help our clients and local business leaders — including those in the development industry — navigate the distressed marketplace,” said Anne Nichols, a corporate practice development manager at Akerman Senterfitt. “The message we want to convey is that it’s not all negative.”
 
The “Looking for the Silver Lining,” seminar is being held at the law firm’s Miami offices at One Southeast Third Avenue. Panelists include Michael Bloomenfeld, senior vice president for the Southeast region of PNC Business Credit; Tiffany Kosch, managing director in the Miami office of the $3.5 billion Bayside Capital Opportunity Fund; Carl Roston, a shareholder and co-head of the Mergers & Acquisitions and Private Equity practice at Akerman Senterfitt; and Barry Steiner, a managing director of Ladenburg Thalmann.
 
“We are targeting two major topics: how investors can identify opportunities to leverage the assets of distressed companies and how companies can secure their position over the next two years,” Nichols said. “We plan to hold a series of these types of events to serve our clients in the coming months.”
 
Jack McCabe, principal of McCabe Research & Consulting in Deerfield Beach, says this may be one of many seminars around the “distressed” theme in 2009. From vulture buyers looking for strategies on buying distressed properties to banks discussing tactics to buy distressed notes, McCabe said many people are holding seminars on profiting from the local market.
 
“Everyone is looking for the silver lining and how to make money in this radically different environment,” McCabe said. “Without a doubt, there are opportunities in real estate, distressed corporate debt and bank notes, but you have to be careful who you take advice from.”
 
As McCabe sees it, many people who never saw the recession coming are professing to be experts on how to profit by it. That’s a pitfall that could lead to more losses as entrepreneurs look for the silver lining amid clouds of distress.
 
“These are experts in the industry with a proven track history for understanding this revolutionary environment,” McCabe said. “These are the types of people you want to listen to.”
 
The seminar begins at 7:30 a.m. and is complimentary to Miami Finance Forum members. Non-member guests can pay $40 in advance or $50 at the door. A buffet breakfast will be provided and the seminar ends with a networking session at 10 a.m.