{"id":93629,"date":"2024-10-04T14:53:27","date_gmt":"2024-10-04T18:53:27","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/"},"modified":"2024-11-21T14:06:51","modified_gmt":"2024-11-21T19:06:51","slug":"jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt","status":"publish","type":[3765],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/","title":{"rendered":"JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a7a914104'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong>PODCAST<\/strong><\/p>\n\n<\/div>\n    <h1 class=\"bbg-metadata bbg-metadata--title\">JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt<\/h1>\n<div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>    <p class=\"bbg-metadata bbg-metadata--date\">October 4, 2024<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong>Bloomberg Intelligence Podcast<\/strong><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a7a91a7f9'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-4 bbg-column--s-width-2\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/1172389_BBGT_BI_FICCFocusPodcast_DigAsset_FNL-1.png\" class=\"bbg-single-image__image attachment-full\" alt=\"\" title=\"1172389_BBGT_BI_FICCFocusPodcast_DigAsset_FNL-1\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/1172389_BBGT_BI_FICCFocusPodcast_DigAsset_FNL-1.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/1172389_BBGT_BI_FICCFocusPodcast_DigAsset_FNL-1.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/1172389_BBGT_BI_FICCFocusPodcast_DigAsset_FNL-1.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p style=\"font-size: 18px; font-weight: 600; margin-top: -55px;\">Listen on<\/p>\n<div class=\"flexbox\">\n<div><a href=\"https:\/\/open.spotify.com\/episode\/0Wo4zmeVCskb4Vwg7WSzQN\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/Spotify.svg\" alt=\"\" width=\"32\" height=\"32\" \/><\/a><\/div>\n<div><a href=\"https:\/\/podcasts.apple.com\/gb\/podcast\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/id1589459799?i=1000671778277\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/Apple-podcast.svg\" alt=\"\" width=\"32\" height=\"32\" \/><\/a><\/div>\n<\/div>\n<div><\/div>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1 bbg-column--valign-middle\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--valign-middle\"\n    style=\"\"\n    >\n    <div\n  class=\"bb-audio\"\n  data-title=\"\u201cLMEs buy time for the sponsor, but I\u2019m increasingly seeing that that\u2019s all it really does.\u201d Jon Weber, founder of JFW &amp;amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast. Weber shared his perspectives, honed at Icahn Enterprises, Goldman Sachs and Elliott Management, on running effective boards and companies post-reorganization (6:30). Prior to that, BI\u2019s Noel Hebert and Phil discussed the complete dearth of distressed-debt inventory, as the distressed ratio plummeted to a 5.2% 28-month low in September. The podcast concludes with BI\u2019s Negisa Balluku joining Noel and Phil for a roundtable discussion covering J&amp;amp;J\u2019s latest Talc news, Hertz make-whole appeal, Audacy, Yellow, Tupperware, Telesat and what qualifies as a consensual release these days (59:00).\"\n  data-state=\"fresh\"\n  data-audio-url=\"https:\/\/assets.bbhub.io\/professional\/sites\/41\/10-04-24_mixdown1.mp3\"\n  data-label-desc=\"for \u201cLMEs buy time for the sponsor, but I\u2019m increasingly seeing that that\u2019s all it really does.\u201d Jon Weber, founder of JFW &amp;amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast. Weber shared his perspectives, honed at Icahn Enterprises, Goldman Sachs and Elliott Management, on running effective boards and companies post-reorganization (6:30). Prior to that, BI\u2019s Noel Hebert and Phil discussed the complete dearth of distressed-debt inventory, as the distressed ratio plummeted to a 5.2% 28-month low in September. The podcast concludes with BI\u2019s Negisa Balluku joining Noel and Phil for a roundtable discussion covering J&amp;amp;J\u2019s latest Talc news, Hertz make-whole appeal, Audacy, Yellow, Tupperware, Telesat and what qualifies as a consensual release these days (59:00).\"\n  data-controls-class=\"no-controls\"\n  data-custom-controls-background=\"fill\"\n  data-theme=\"light-mode\"\n  data-progress=\"0\">\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--white  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a09a7a9210a0'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Description<\/strong><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>\u201cLMEs buy time for the sponsor, but I\u2019m increasingly seeing that that\u2019s all it really does.\u201d Jon Weber, founder of JFW &amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast. Weber shared his perspectives, honed at Icahn Enterprises, Goldman Sachs and Elliott Management, on running effective boards and companies post-reorganization (6:30). Prior to that, BI\u2019s Noel Hebert and Phil discussed the complete dearth of distressed-debt inventory, as the distressed ratio plummeted to a 5.2% 28-month low in September. The podcast concludes with BI\u2019s Negisa Balluku joining Noel and Phil for a roundtable discussion covering J&amp;J\u2019s latest Talc news, Hertz make-whole appeal, Audacy, Yellow, Tupperware, Telesat and what qualifies as a consensual release these days (59:00).<\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row bg--gray  text--black bbg-row--full-bg-bleed\" data-anchor='row-6a09a7a9225b4'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>More episodes from <a href=\"https:\/\/www.bloomberg.com\/professional\/products\/bloomberg-terminal\/research\/bloomberg-intelligence\/\">Bloomberg Intelligence<\/a><\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_4723651514979524953\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    #cta_4723651514979524953.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link {\n\tcolor: #000000 !important;\n}\n\n#cta_4723651514979524953.bbg-cta .bbg-cta-button__icon-right::after {\n\tcolor: #000000 !important;\n}\n\n#cta_4723651514979524953.bbg-cta .bbg-cta-button__icon-left::before {\n\tcolor: #000000 !important;\n}\n\n#cta_4723651514979524953.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:after {\n\tbackground-color: #000000 !important;\n}\n    #cta_4723651514979524953.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover {\n\tcolor: #0062dd !important;\n}\n\n#cta_4723651514979524953.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover:after {\n\tbackground-color: #0062dd !important;\n\tcolor: #0062dd !important;\n}\n\n#cta_4723651514979524953.bbg-cta .bbg-cta-link.link-holder .bbg-cta-link:hover:before 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class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Get insights delivered to your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for Bloomberg Professional Services newsletter<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_676994233574566704\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                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Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast.<\/p>\n","protected":false},"author":1971,"featured_media":92522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-podcast.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[453],"tags":[776,565,3687,526,456],"series":[],"class_list":["post-93629","post","type-post","status-publish","format-standard","hentry","category-markets","tag-analyst","tag-bloomberg-intelligence","tag-ficc-focus-podcast","tag-fixed-income","tag-portfolio-management","type-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Jon Weber, founder of JFW &amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"Jon Weber, founder of JFW &amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. Liability management exercises leave executives with a \u201csword of Damocles\u201d over their heads, failing to really fix anything and with an aftermath that remains a management distraction, Weber told Bloomberg Intelligence\u2019s Phil Brendel, in October\u2019s feature interview for the State of Distressed Debt podcast.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-04T18:53:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-21T19:06:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2FBI-Podcast_FICC-Focus_Feature-Image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"mtraore11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mtraore11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\"},\"author\":{\"name\":\"mtraore11\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/6fa71585ea31120410703272dc3442ae\"},\"headline\":\"JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt\",\"datePublished\":\"2024-10-04T18:53:27+00:00\",\"dateModified\":\"2024-11-21T19:06:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\"},\"wordCount\":\"620\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"keywords\":[\"Analyst\",\"Bloomberg Intelligence\",\"FICC Focus Podcast\",\"Fixed Income\",\"Portfolio Management\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/jfws-jon-weber-on-post-reorg-boards-state-of-distressed-debt\/\",\"name\":\"JFW\u2019s Jon Weber on Post-Reorg Boards: State of Distressed Debt | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\"},\"datePublished\":\"2024-10-04T18:53:27+00:00\",\"dateModified\":\"2024-11-21T19:06:51+00:00\",\"description\":\"Jon Weber, founder of JFW &amp; Co., doesn\u2019t mince words regarding the effectiveness of the popular restructuring strategy. 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