The Right Team… The Right Credentials
First and foremost, McTevia & Associates are business people. Our associates include professionals with a wide range of expertise in business management, finance, banking, accounting, engineering, credit and collections, health care, real estate management, retail, manufacturing and distribution. This experience enables our firm to efficiently and effectively assess and support the needs of our clients. With offices in Michigan and Florida, our organization is staffed by business professionals who reinforce the broad background of our firm's management.
While the knowledge and experience of our associates are critical to accomplish the best possible results for our clients, the sensitive nature of our engagements demands an additional focus. We are proud of our ability to recognize the human side of the problems we face in a way that ensures the most satisfactory results for our clients. It is always stressful when a company is forced to restructure or change as a result of transitional issues such as growth, industry changes, or financial difficulties. Because we recognize that a business is really the people involved within the organization, the professionals at McTevia & Associates are extremely sensitive and focus on quickly and effectively responding to the needs of management.
James V. McTevia, Managing Member
As an advisor to companies in transition, James V. McTevia thrives on what many people do their best to avoid. His job is to convince management to confront difficult issues, assist in an analysis process and provide expertise and structure to guide the business successfully into the future.
While McTevia is widely recognized and well respected as a pioneer in the highly specialized field of crisis management, his engagements today primarily focus on business restructuring, refinancing, management reorganization and transition, and mergers and acquisitions. The profession demands a sense of urgency in gathering accurate data, analyzing facts and recommending solutions to deal effectively with these situations.
For over 50 years, McTevia and the other professionals from his firm, McTevia & Associates, have provided a high level of individual service to their clients. With executive offices in Bingham Farms, Michigan and regional offices in West Palm Beach, Florida, McTevia and his firm own a well-earned national reputation as business problem solvers.
Once retained, a preliminary analysis of the business is conducted and a short-term plan is developed for those companies in crisis. Decisions, which normally take weeks or even months under these circumstances, must be implemented in hours or days. Actions taken during this initial, highly critical period often result in enabling the business to have sufficient time to conduct a more comprehensive analysis and map out a solid, long-term business plan that can be shared with lenders and investors to enlist their support. McTevia has proven that, given the precious ingredient of time, a company can follow this process to resolve literally any transition problem. Over his extensive years of experience, McTevia has developed the ability to gain management's support to face problems head-on. Additionally, his skill as a diplomat is highly sought after by shareholders and professionals involved in counseling businesses in transition. ''One of the most frequent mistakes management makes is not confronting difficult issues,'' contends McTevia. "That process never solves problems. In many cases, indecision is how businesses get into trouble in the first place. In the final analysis, the difficult path, while painful, is often the easiest in the long run. I work with clients to help them gather facts, focus on the problem, and implement sound solutions," he notes.
The management experience of the ownership and operation of a variety of his own business ventures over the years, in addition to a hands-on background in banking and commercial and industrial finance, brings a broad perspective to McTevia's counsel. Nearly 90 percent of his engagements comprise either working with principals and their shareholders, companies in transition, or as an advisor to lenders, state governmental agencies and pension funds with various problems in their lending and investment portfolios.
Business restructuring can be complex, high-pressure work, not only for McTevia and his associates, but also principals of the client company. Yet, he takes great pride in his ability to help companies chart a course for a new, sometimes different, future while lending emotional support for the individuals involved.
McTevia's own career began in commercial finance, then moved into banking and industrial finance, as the process of developing his consulting practice and acquiring businesses emerged. McTevia holds an Honorary Doctorate Degree in Business. He is a frequent lecturer to business and professional groups and is often quoted by the national media. His bylined articles appear regularly in leading business, legal and financial trade publications throughout the country. Author of the critically acclaimed BANKRUPT: A Society Living in the Future, FINANCIAL REALITY, and his newest book, THE CULTURE OF DEBT: How a Once-Proud Society Mortgaged Its Future, McTevia has dedicated his life to salvaging businesses and corresponding lives.
Joanne J. Vancour
Joanne J. Vancour has worked with the firm's clients for over thirty years, specializing in assisting management to effectively handle stress in a time of crisis. Vancour has worked with the management of a multitude of companies through private reorganization and has developed a strong reputation for her ability to deal with the difficult and delicate issues of problem solving in this highly specialized field.
She has extensive experience in the United States Bankruptcy Court and State Circuit Court in the firm's role as Trustee, Receiver and Liquidating agent, facilitating the wind down of businesses. She has proven her effectiveness in resolving problems for regulatory agencies and negotiating with state and local authorities.
Vancour's experience in the retail and manufacturing industries includes the marshaling and sale of assets, communication with creditors and analysis of claims and distributions.
Her experience in the medical field includes assisting hospitals and health care facilities in financial restructuring, resolving problems with medical claims, distributions to claimants and collections from third party payors.
Kenneth R. Nenninger, C.P.A.
As an associate of the firm for several years, working with the firm's clients in transition and in crisis, Kenneth R. Nenninger brings extensive experience developed through a variety of the firm's consulting engagements, in addition to his previous experience in public accounting, financial management and financial analysis in various management roles.
Nenninger has developed practical experience in a variety of consulting engagements, including preparation of financial statements, cash flow management and monitoring, developing financial projections and budgets, and providing hands-on guidance to management. He has advised businesses in the fields of service, retail, manufacturing, and a number of various automotive suppliers.
A graduate of Oakland University, Nenninger is a Certified Public Accountant and a member of the Michigan Association of Certified Public Accountants, the American Institute of Certified Public Accountants, American Bankruptcy Institute and Turnaround Management Association.
John E. Homeister, C.P.A.
With over 30 years of accounting experience, John E. Homeister, an associate with the firm for nearly 10 years, provides clients with innovative support in numerous areas. In particular, his experience in manufacturing with a machine tool builder, plastic injection parts maker and an over the counter drug manufacturer has given him extensive knowledge of cost accounting. His ability to review financial statements in depth and quickly identify areas needing attention are two of his key attributes.
Additionally, Homeister spent several years working in the professional staffing industry as chief financial officer. Bank financing, acquisitions, human resources, payroll systems and information technology were among his major responsibilities in this position.
Homeister specializes in conducting due diligence and assessing the financial complexities of clients’ challenges and initiating successful outcomes.
Dennis Hoyt, C.P.A.
An accomplished financial manager, Dennis Hoyt has developed extensive experience through his many consulting engagements, in addition to his previous background in public accounting, and with middle-market companies. Hoyt brings excellent analytical, project management, and problem-solving skills to the firm’s clients. He has worked on engagements in all phases of the business cycle: growth, profitable times, transition, and crisis.
His experience includes assisting clients with numerous financings, development of financial projections and budgets, monitoring of cashflows, evaluating working capital needs, and developing cash forecasts. He also aides clients by increasing available cash through balance sheet management, improving product margins and reducing overhead expenses, and identifying and eliminating unprofitable operations. Hoyt’s industry experience includes the service, retail, and manufacturing industries.
Hoyt is a Certified Public Accountant and a member of the Michigan Association of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Association of Financial Professionals.
Sandra A. Dahlerup, CBF
Sandy Dahlerup has held a variety of management positions throughout her over 20 year career and she brings a unique skill to the firm. As a credentialed credit executive, she has held positions of Corporate Credit Manager, Inside Sales Supervisor, Corporate Quality Assurance Manager and Director of Information Technology. Her experience in research, data management, decision making and problem solving positions her to successfully manage the firm’s communication with the client’s suppliers and creditors.