A Perverse Delight Over Bankruptcy

The tone of Don Lee’s article “Boom Expected for Bankruptcy Professionals” [Dec. 7] clearly sent the wrong message. He reported that attendees of the recent American Bankruptcy Institute meeting are anticipating with delight a significant recession in 1999.

Lee’s overall assessment was that the prospective recession will be “music to the legions of bankruptcy specialists, from turnaround managers to lawyers.” He also suggested that professionals in the field are looking forward to an “incipient feast” at the expense of their prospective clients. If he next attends a convention of surgeons, he may well report their glee upon hearing about the next great train wreck.

As business consultants, we work with companies to help mitigate the worst effects of inadequate business planning or challenges faced in the marketplace. It would have been more beneficial if Lee had included some useful direction by indicating that professional services are available now to help offset the worst effects of any future recession.

Those who preach or report only about the negative contribute to what may become a self-fulfilling prophecy. We know from years of experience that the sooner companies plan for future challenges, the more of them that will survive.

GARY L. WARTIK

INGRID A. WARTIK

Westlake Village