Firm News and Events

Monday, December 01, 2008

WS+B Initiates "Project Forward" to assist CEOs in Difficult Economic Times

WithumSmith+Brown today announced the formation of the Project Forward team, a group of  management consulting specialists focused on providing CEOs of middle market companies with objective, independent counsel to navigate their business through these difficult economic times.

“CEOs and management teams are facing unprecedented business challenges  and need help focusing on creative solutions,” said Tom Basilo, CPA, and CEO of WS+B’s WithumSmith+Brown Global Assurance division who will lead the Project Forward efforts. “The Project Forward initiative will utilize a proprietary methodology we call the Business Strength Analyzer.  This tool assesses a company’s strengths as well as new opportunities for improvement in profitability, productivity and cash flow.”

Project Forward is founded on the belief that business leaders need more than simple guidance and checklists to address today’s changing marketplace. “In my more than 35 years of working with entrepreneurs and CEOs, I have learned that business leaders rarely have someone to turn to in times of crisis and need strong, independent counsel that can guide them through difficult times,” states Mr. Basilo.  “As a firm, WithumSmith+Brown has always provided such assistance.  But because the current economy has such sweeping reach affecting every level of corporate America, there is a manifestation of new pressures and issues to address.  We believe that the Project Forward initiative will fill a need for the CEO,” he adds.

In addition to utilizing the Business Strength Analyzer, the Project Forward Team will also mentor CEOs and CFOs in preparing for transactions and obtaining financing. 

Basilo also stated, “With credit tightening, we believe that financial institutions will only be approving deals for the strongest companies.  This makes it critical for the top management team to be well-prepared for dealing with the financial community.”

For more information, please contact Mr. Basilo at the Morristown Office by calling (973) 898-9494 or email tbasilo@withum.com.