The McManigle Company

“All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.”

~John Kenneth Galbraith



Businesses whose leadership consistently perform understand the brand, the product, and know-how to weather both good and bad economic cycles. Take a moment to reflect on the basics that emanate in each of Walt Disney’s quotations. . .

“When we consider a new project, we really study it – not just the surface idea, but everything about it. And when we go into that new project, we believe in it all the way. We have confidence in our ability to do it right. And we work hard to do the best possible job.”

The Basics: Planning, Commitment, Confidence to perform, Hard work.

“There’s really no secret about our approach. We keep moving forward-opening up new doors and doing new things – because we’re curious. And curiosity keeps leading us down new paths. We’re always exploring and experimenting. We call it Imagineering – the blending of creative imagination with technical know-how.”

The Basics: Momentum, Inquisitive creativity, No fear, Technical competence.

“Well, by this time my staff, my young executives, and everything else, are convinced that Walt is right. That quality will out. And so I think they’re going to stay with that policy because its proved that it’s a good business policy. Give the people everything you can give them. Keep the place as clean as you can keep it. Keep it friendly, you know. Make it a real fun place to be. I think they’re convinced and I think they’ll hang on after…as you say…well…after Disney.”

The Basics: Quality, Quality, Quality! Stay with what works in policy and action, Leave nothing on the table, Future leaders learn by example and success.

“The whole thing here is the organization. Whatever we accomplish belongs to our entire group, a tribute to our combined effort. Look at Disneyland. That was started because we had the talents to start it, the talents of the organization. And our World’s Fair shows-what we did was possible only because we already had the staff that had worked together for years, blending creative ideas with technical know-how.”

The Basics: The right people in the right jobs, Teamwork,  Selfless sharing of credit, Leveraging strengths to accomplish goals.

“No matter what the provocation, I never fire a man who is honestly trying to deliver a job. Few workers who become established at Disney Studio ever leave voluntarily or otherwise, and many have been on the payroll all their working lives.”

The Basics: Loyalty, Fairness, Integrity and Understanding that highly effective teams are made up of unique individuals with specialized and/or unique talents necessary for the team’s overall success…not “yes-men” or auto-matrons.

“You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.”

The Basics: Failure happens, it hurts, learn from it, embrace it, get up and start over. What doesn’t kill you makes you stronger.

“People often ask me if I know the secret of success and if I could tell others how to make their dreams come true. My answer is, you do it by working.”

“I suppose my formula might be: dream, diversify-and never miss an angle.”

“The Quotable Walt Disney” Compiled by Dave Smith, Disney Editions, Disney Enterprises, Inc. Copyright 2001

We’re currently serving as the Assignee in a Delaware Assignment for the Benefit of Creditors (ABC) in the matter styled Eladyrrech, LLC f/k/a Cherrydale Fundraising, LLC
 
On February 28, 2009, Eladyrrehc, L.L.C., formerly known as Cherrydale Fundraising, L.L.C., a Delaware limited liability company and Drew McManigle, an individual entered into a Trust Agreement and Assignment for the Benefit of Creditors. On March 3, 2009, Assignee filed a Petition for Assignment for the Benefit of Creditors pursuant to 10 Del. C. § 7381 in the Court of Chancery of the State of Delaware (C.A. No. 4403-VCP).  The purpose of this proceeding is to provide for the ratable distribution of Assignor’s property by Assignee to satisfy Assignor’s debts to the fullest extent possible.  During the course of this engagement and, pursuant to applicable statute, Drew McManigle was bonded in the amount of $1.5 million. Significant actions undertaken have been the on-going post-trial prosecution of a significant pre-existing lawsuit; verification of creditors claims; and administration of significant sales proceeds, including assessing future payment streams to achieve the highest possible return to creditors.

“I have had the opportunity to work with Mr. McManigle on two occasions in which he was asked to serve as Interim CEO of troubled companies.

I worked closely with Drew on both of these assignments, first as a general counsel of a publicly traded company with respect to a troubled subsidiary, and second, as outside counsel for a company.

I found Drew to be hard working, honest and professional in all his dealings with me, as well as his dealings with the employees and the creditors of these companies. You can count on Drew to make the tough decisions necessary to achieve the goal articulated and to give you straight forward answers as to the status of such matters.

I also found Drew to be very knowledgeable about dealing effectively with creditors and have no hesitancy in highly recommending him.”

“Drew is a first rate turnaround manager. He understands working with the various constituencies in a workout, he understands cutting costs and effecting change, and he provides excellent value for his services. It’s a pleasure to work with Drew.”

“We asked Drew to step into a leading role at a troubled company to manage the preparation for and conduct of both a chapter 11 proceeding and a sale process. The case had a number of very difficult dynamics which Drew was able to handle quickly and efficiently. He was a pleasure to work with, respected by all in the matter and was able to get the job done despite enormous obstacles thrown into his path.”

“Drew is one of my go to guys to serve as an independent director or officer for my special situation transactions. He has been a tremendous asset in difficult restructuring, turnaround and distressed sale assignments.”

“Drew is a take charge person. He knows how to analyze a company’s operations in order to ferret out the problems – and then he corrects them.”

“Drew is a skilled professional in crisis management. He brings a depth of knowledge built from years of successfully handling difficult management assignments and challenges. He is one of those individuals who gets it done right the first time and every time. I highly recommend him.”

“I have had the good fortune to work with Drew when he became CEO of Southern Metal Products. As outside legal counsel to the company I found Drew to be exceptionally informed and good decision maker. Drew has a special ability to identify the problem areas and transition to a solution in short order. His background and experience allows him to apply his business acumen to numerous industries and recognize where change is required to achieve the operational goals.”

“Drew was a truly inspirational leader, dynamic communicator and always the example of  his expectations that he required from all employees regardless of their position. I am a better business person due to the time I spent working for Drew McManigle and highly recommend him without exception.”

McManigle provides strong leadership and support to successfully assist businesses contemplating or entering into complex Chapter 11 proceedings.

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