J.T.: Occasionally we like to invite experts into the conversation, and this time we have the chance to hear from a corporate turnaround expert, someone who is an authority on saving failing companies.
Dale: I got the chance to talk with Larry Nusbaum, COO and managing director of Vertex Capital Management. Having been part of 64 turnarounds, he's an expert on what goes wrong in companies, and he's also the guy who comes in to cut overhead - and, yes, staff. So we knew he'd be the one to ask about how to avoid being caught up in layoffs or takeovers, and here's his tough advice for job-searchers...
Larry: Read the financials. With all the information on the Internet, if you can't or don't read up on the company and the competition, you shouldn't have a job.
Dale: And what if you have a job but are wondering if you should be looking to get out?
Larry: If your company is being bought, be aggressive - puff out your chest and go out and get a job. If you're not sure about your company's future, do a search on the company and your bosses. The information is there. If you don't care enough to inform yourself, you don't deserve a job. If the company fails, it's your own fault if you stayed.