When I asked Sandbrook whether it was harder to emerge from Chapter 11 or to resurrect a defeated leadership team, he quickly said the latter. You can find ways to get funding and other components that are needed for a turnaround, he told me, but it’s not so easy to change people’s mindsets and behaviors.
Success, he said, works from the inside out or from small to big. To use a military analogy, he sought to make winners out of people who weren’t used to winning. Once they developed a greater sense of control, efficacy and success on a personal level, it was just a matter of time before the company would benefit. As of this writing, the stock trades well over $50 per share.Read More