『Reviving Giants』のカバーアート

Reviving Giants

Reviving Giants

著者： Reviving Giants
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概要

 What does it take to rescue a company from the brink of collapse? In Reviving Giants, veteran turnaround expert Drew Mcmanigle takes you behind the closed doors of boardrooms and courtrooms to find out.© 2025 All rights reserved. "Reviving Giants" podcast, content, title, and logo owned by Macco. Unauthorized use prohibited. Contact: rg@speakerboxmedia.com. Respect our creativity. マネジメント マネジメント・リーダーシップ 個人ファイナンス 経済学
エピソード
  • When the Banks Failed: Lessons from the 1980s Texas Oil Bust Part 2

    When the Banks Failed: Lessons from the 1980s Texas Oil Bust Part 2
    2026/03/05
    In part two of this episode, Drew, Berry, and Charlie look back on the cases that shaped modern restructuring: from the chaotic El Paso refinery bankruptcy to the high-stakes battles inside Enron. They share firsthand stories of IRS shutdowns, courtroom showdowns, copper price crashes, and creditor warfare that redefined how Chapter 11 works in practice. The episode explores how bankruptcy evolved from a scrappy, Wild West profession into a complex, high-dollar industry driven by sophisticated capital structures and venue strategy. Along the way, they debate lender-on-lender violence, mass tort bankruptcies, and whether the system still rewards creativity or just balance sheet engineering. It’s a candid look at how the biggest collapses built today’s restructuring playbook. 🎧 Episode Highlights ● [03:52]: A Risk That Recovered $30M ● [05:24]: The Refinery Case That Shook Texas ● [08:30]: When the Court Demanded Proof ● [14:29]: Patience, Copper, and a Comeback ● [33:01]: Enron and the New Era of Restructuring 🔑 Key Takeaways: ● The El Paso refinery collapse showed how an unprepared Chapter 11 filing can accelerate failure instead of prevent it. When IRS liens triggered a reactive bankruptcy without evidence, financing, or a clear strategy, the court’s refusal to bend the rules led to an immediate shutdown and hundreds of lost jobs. In restructuring, process, preparation, and proof matter as much as urgency. ● The four-year Asarco bankruptcy demonstrated that restructuring is often a long game shaped by external forces like commodity cycles. Rising and falling copper prices completely changed creditor leverage, settlement dynamics, and ultimate ownership. Sometimes survival depends less on legal maneuvering and more on understanding markets and waiting for the right moment to act. ● From Enron’s creditor committee infighting to today’s lender-on-lender battles and complex capital structures, bankruptcy has evolved into a high-stakes arena dominated by sophisticated players. Yet beneath the balance sheet engineering, the core tension remains: is the goal to truly fix the business, or simply to rearrange financial claims? The answer continues to shape the future of the restructuring profession. 👤 Guest Spotlight: Berry Spears Berry D. Spears is a partner at Keller Benvenutti Kim LLP with a nationally recognized bankruptcy and restructuring practice rooted in decades of hands-on experience. Over the course of his career, he has represented virtually every stakeholder in a financial crisis from debtors and creditors to boards, lenders, and committees, bringing pragmatic, creative solutions to complex restructurings across industries including energy, healthcare, financial services, and real estate. Charles Beckham Charles Beckham is a partner at Haynes Boone and a nationally respected restructuring and bankruptcy lawyer with deep roots in complex financial crises. He built his career during the West Texas oil collapse of the 1980s, representing banks, the FDIC, and other stakeholders through some of the region’s most consequential failures. Stay Connected: ● https://www.macco.group/ ● https://www.linkedin.com/in/drewmcmanigle/ ● https://www.linkedin.com/in/berryspears/ ● https://www.linkedin.com/in/charles-beckham-753b1a32/
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    53 分
  • When the Banks Failed: Lessons from the 1980s Texas Oil Bust Part 1

    When the Banks Failed: Lessons from the 1980s Texas Oil Bust Part 1
    2026/02/25
    This episode looks back at the historic Texas oil crash of the early 1980s, bringing with it a full-scale financial collapse that reshaped careers, communities, and an entire industry. In the midst of it all were Berry Spears, Charlie Beckham, and host Drew McManigle who were just starting out as young lawyers and operators in West Texas. Over four decades later, they recount firsthand stories of failing banks, collapsing rig counts, FDIC interventions, and the monumental changes that followed in bankruptcy and restructuring law. This conversation sets the stage for how survival, trust, and hard lessons in the 80s shaped the modern restructuring world. 🎧 Episode Highlights ●[00:54]: Berry Spears’ and Charles Beckham’s early careers in 1980s West Texas ●[07:40]: Life inside the oil service business as the downturn begins ●[12:48]: Failure of major West Texas banks and the role of the FDIC ●[17:16]: Public reaction to bank closures and the run on deposits ●[29:26]: How the crisis shaped bankruptcy and restructuring careers 🔑 Key Takeaways: ●The Texas oil crash of the early 1980s was not an isolated energy downturn but a systemic financial crisis that collapsed banks, wiped out businesses, and destabilized entire communities across West Texas. The failure of major institutions like the National Bank of Odessa and First National Bank of Midland, followed by widespread FDIC intervention, exposed how aggressive lending and unrealistic assumptions about oil prices amplified the fallout. ●The crisis became an unintended training ground for a new generation of professionals. With little precedent under the newly revised bankruptcy code, young lawyers and operators like Berry Spears and Charles Beckham were forced to learn restructuring, workouts, and creditor negotiations in real time, shaping the foundations of modern bankruptcy and restructuring practice. ●The experience permanently reshaped how participants approached risk, trust, and decision-making. Scarcity of capital, public bank runs, and survival-driven compromises instilled a practical, relationship-based mindset that continues to influence how they navigate complex restructurings and business challenges decades later. 👤 Guest Spotlight: Berry Spears Berry D. Spears is a partner at Keller Benvenutti Kim LLP with a nationally recognized bankruptcy and restructuring practice rooted in decades of hands-on experience. Over the course of his career, he has represented virtually every stakeholder in a financial crisis from debtors and creditors to boards, lenders, and committees, bringing pragmatic, creative solutions to complex restructurings across industries including energy, healthcare, financial services, and real estate. Charles Beckham Charles Beckham is a partner at Haynes Boone and a nationally respected restructuring and bankruptcy lawyer with deep roots in complex financial crises. He built his career during the West Texas oil collapse of the 1980s, representing banks, the FDIC, and other stakeholders through some of the region’s most consequential failures. Stay Connected: ●https://www.macco.group/ ●https://www.linkedin.com/in/drewmcmanigle/ ●https://www.linkedin.com/in/berryspears/ ●https://www.linkedin.com/in/charles-beckham-753b1a32/
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    1 時間 5 分
  • Rock N Roll Judge: Former Chief Judge of Southern TX Talks Law’s Spirit, Evolution & Future

    Rock N Roll Judge: Former Chief Judge of Southern TX Talks Law’s Spirit, Evolution & Future
    2026/01/08
    They call him the Rock and Roll Judge; a man who could go from a courtroom to a concert stage without missing a beat. He's run marathons, played tuba, directed Broadway musicals, and reshaped how bankruptcy law is practiced in America— but Judge Richard Schmidt is known above all else for his deep respect for people and having a courtroom that ran like a symphony. In today’s episode, the retired Chief Judge of the Southern District of Texas discusses the evolution of Chapter 11, the human side of financial collapse, and the “rock and roll” spirit behind the bench. Key Insights & Timestamps: [00:00] Podcast begins [02:18] Broadway & the Bench: Serving as a judge while engaging in the community arts [06:00] Commander to Chief: Using air force leadership experience in the courtroom [17:12] Big Cost to Go Broke: Evolution of bankruptcy law into a high-cost game [28:06] Lessons Learned: Cases that tackled law & language barriers for Judge Schmidt [33:37] Advice for Law’s Next Generation: Managing the high stakes of bankruptcy law today Guest Spotlight: Judge Richard Schmidt Judge Richard Schmidt is a retired federal judge in Corpus Christi, TX, with 28 years of exemplary service on the Southern District of Texas bench. As a bankruptcy fiduciary, consultant, mediator, and arbitrator, he brings a wealth of experience and expertise to assist bankruptcy cases across the United States. Key Takeaways: From the Big Stage to the Court Room: When Judge Schmidt became the first bankruptcy judge in Corpus Christi, he was new to the community and sought many ways to get involved outside of the court room, including tapping into his past experience in musicals and symphonies. I think the public is entitled to know their judge,” Schmidt says of his time in Christi, “To the extent that you can be involved in things that are not judging, then you get to know the community.” Complex Cases & Chapter 11: The first complex case filed in Judge Schmidt’s courtroom was Greyhound, and he learned quickly about the importance of multiple hearings, lawyers on call, and fast decision making. There are a lot of decisions that have to be made right in a hurry, and they need a judge that can handle a complex case,” Schmidt explains when discussing the Greyhound case. “Not all judges are meant for complex cases, so I started developing a system.” Navigating High Stakes Cases: Advice for today’s lawyers and judges hits home for Judge Schmidt, whose daughter currently practices bankruptcy law and has sought his wisdom in the past with high profile cases. “For most judges, the rules are very important,” Schmidt says of practicing bankruptcy law. “I think you need to know the judge, his staff or her staff, and the clerk of the court.” Resources Mentioned: Judgerss.com Connect with Judge Richard Schmidt: Judgerss.com/contact/ Produced by Speakerbox Media.
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    37 分
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