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Reviving Giants

Reviving Giants

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What does it take to rescue a company from the brink of collapse? In Reviving Giants, veteran turnaround expert Drew Mcmanigle takes you behind the closed doors of boardrooms and courtrooms to find out.© 2025 All rights reserved. "Reviving Giants" podcast, content, title, and logo owned by Macco. Unauthorized use prohibited. Contact: rg@speakerboxmedia.com. Respect our creativity. Economia Finanza personale Gestione e leadership Management
Episodi
  • Crisis Communications 101: The Real Cost of Staying Silent

    Crisis Communications 101: The Real Cost of Staying Silent
    Sep 3 2026
    Reviving Giants kicks off Season 2 with Ben Rosner, senior advisor at MACCO and founder of Anabasis Partners. This conversation on crisis communications delves into why the decisions companies make in the first hours of a crisis can shape their fate for years. Drew McManigle and Ben trace Ben's unique path from diplomacy to the Israeli military to corporate crisis advising, and what that journey taught him about communicating under pressure. The conversation moves from the anatomy of an effective crisis "war room," to why silence is read as an admission of guilt in the social media era, to real cases — a distressed Midwest hospital, the Activision Blizzard fallout — that show what's at stake when companies get the narrative wrong. 🎧 Episode Highlights ● [00:01:00] Ben's background: growing up on a Kibbutz in Israel, not speaking English until age 8, and a childhood surrounded by diplomats. ● [00:02:45] The blocked-number phone call that led to Ben joining the IDF Spokesperson's Unit — and eventually advising the Chief of the General Staff. ● [00:05:26] The biggest mistake companies make in a crisis: there's no real infrastructure in place to make fast, coordinated decisions. ● [00:06:14] Anatomy of an effective "war room" — roughly six people, including the CEO, COO or chief of staff, internal and external legal counsel, and dedicated crisis communications counsel. ● [00:08:47] The WARN notice: why every stakeholder needs a message built for them specifically. ● [00:11:00] Why the traditional news cycle no longer exists, and the Reuters Institute stat that 54% of Americans now get their news from social media. ● [00:13:00] The rise of anonymous finance meme accounts like Litquidity, and how they've flipped the power dynamic between traditional and social media. ● [00:16:00] A leadership story: preparing General Herzi Halevi to brief 20 European ambassadors, and the moment that reframed how Ben saw communication at the highest levels. ● [00:20:00] Why silence is increasingly read by the public as an admission of guilt — and the legal reasoning that sometimes drives companies to go quiet anyway. ● [00:26:00] The Activision Blizzard cautionary tale: winning every legal battle, losing $8 billion in value and the company's independence. 🔑 Key Takeaways ● Silence creates a vacuum, and someone else — employees, competitors, or the press — will fill it with their own narrative. In a crisis, not communicating can be a costly strategy. ● Winning in court doesn't guarantee survival. Companies can win every legal battle and still lose their reputation, their workforce, and ultimately their independence — the Activision Blizzard example shows how fast that can happen. ● Crisis response needs dedicated infrastructure before crisis hits. A small, standing "war room" of business decision-makers, internal and external legal counsel, and experienced crisis communications counsel. 🎙️ About the Guest Ben Rosner, Senior Advisor, MACCO / Founder, Anabasis Partners Ben Rosner advises CEOs and boards on communication as it relates to crises, restructuring, and litigation. His background spans corporate, military, and diplomatic communications. He studied at Columbia University, represented Israel at the UN Security Council, and served as a policy advisor and speechwriter in the Israeli Ministry of Foreign Affairs before moving into corporate communications at FGS Global, one of the top crisis and financial communications firms in the world. He later joined the IDF Spokesperson's Unit, eventually advising senior generals across the Navy, Intelligence, and Air Force, including the Chief of the General Staff. Today, through Anabasis Partners and as a senior advisor at MACCO, he helps companies navigate high-stakes moments where reputation and enterprise value are on the line. Stay Connected ● MACCO.group ● anabasispartners.com Produced by Speakerbox Media.
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    31 min
  • Why Liability Maneuvers Fail: Judge Kaplan on Spirit Airlines, Rite Aid, and Overleveraged Giants

    Why Liability Maneuvers Fail: Judge Kaplan on Spirit Airlines, Rite Aid, and Overleveraged Giants
    May 7 2026
    In this episode, we sit down with Hon. Michael B. Kaplan of the District of New Jersey to go inside the rarely seen world of bankruptcy from the judge’s chair. Drawing on years of overseeing high-profile Chapter 11s and small consumer cases, Judge Kaplan talks through what actually happens in those “first day” hearings, why so many liability management deals and quick restructurings fall short, and how often operational problems get ignored in favor of balance-sheet fixes. The conversation explores the human side of the work: what it’s like to carry the weight of decisions that affect jobs, communities, and families, and the tension between what feels fair and what the Bankruptcy Code demands. Judge Kaplan also reflects on how the practice has evolved with private equity, private credit, rising fees, and faster timelines, and what those shifts mean for the future of Chapter 11. 🎧 Episode Highlights [03:02]: The high stakes of decisions that reshape lives and companies [05:08]: “How can I help?:” as his courtroom philosophy [08:55]: Why liability management deals often fail struggling companies [13:40]: The human toll of foreclosures, evictions, and underwater homes [17:33]: How Chapter 11 shifted from reorganization to runway extension 🔑 Key Takeaways: ● Bankruptcy, in Judge Kaplan’s view, is fundamentally a problem‑solving arena rather than a ritual of failure. He emphasizes that judges sit at the crossroads of law, business, and human impact, making rapid decisions that can determine whether companies survive, liquidate, or quietly wind down. The stakes are measured not only in dollars, but in jobs, homes, and entire communities that live with the consequences of each ruling. ● Many high-profile restructurings fail because they treat Chapter 11 as a way to “extend the runway” instead of fixing the underlying business. Judge Kaplan sees too many liability management exercises and quick, milestone-driven cases that focus on capital structures and buzzword excuses—COVID, interest rates, tariffs—while ignoring core operational issues like broken business models, footprints, labor costs, and management failures. Without confronting those realities, he argues, even the most sophisticated financial engineering simply delays an inevitable collapse. ● Great outcomes in bankruptcy depend on the quality and mindset of the professionals in the room. Judge Kaplan looks for counsel, CROs, and advisors who truly understand the business, manage client expectations, listen to the court’s questions, and can translate complex financial and operational stories into clear evidence. Reputation, preparation, and candor matter: the best practitioners help the judge make informed decisions, while recognizing that the law, not personal preference, ultimately constrains what “fair” can look like in any given case. 👤 Guest Spotlight: Hon. Michael B. Kaplan Hon. Michael B. Kaplan is a United States Bankruptcy Judge for the District of New Jersey and a former chief judge of the court, with decades of experience deciding some of the nation’s most complex restructurings and liquidations. Before taking the bench, he served as a practitioner and Chapter 7 and 13 trustee, giving him a ground-level view of both business reorganizations and consumer financial distress. Known for his practical, problem‑solving approach, Judge Kaplan has presided over high-profile Chapter 11 cases while remaining deeply attuned to the human impact of foreclosures, evictions, and failed turnarounds on ordinary people. Stay Connected: ● ⁠https://www.macco.group⁠ ● ⁠https://www.linkedin.com/in/drewmcmanigle⁠ ● ⁠https://www.njb.uscourts.gov/content/honorable-michael-b-kaplan⁠ Produced by Speakerbox Media.
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    47 min
  • Corporate Crisis Playbook: The Turnaround Strategy Becky Roof Uses to Save Businesses

    Corporate Crisis Playbook: The Turnaround Strategy Becky Roof Uses to Save Businesses
    Apr 2 2026
    Drew sits down with turnaround veteran Becky Roof to explore the high-stakes world of corporate restructuring and the accidental career paths that lead people into it. Becky shares stories from decades of crisis leadership, including stepping in as interim CFO during Kodak’s bankruptcy and navigating complex negotiations with creditors, pensions, and global stakeholders to preserve value and jobs. The conversation dives into what it really takes to lead when companies run out of liquidity, employees fear for their futures, and the path forward isn’t clear. Becky also looks back on mentorship, the evolution of the restructuring industry, and what it meant to build a career as a woman in a historically male-dominated field. 🎧 Episode Highlights: [06:28]: The bankruptcy that pulled Becky into restructuring [07:17]: The mentors who shaped Becky’s career [29:44]: Becoming Kodak’s interim CFO during bankruptcy [38:57]: The case that almost got Becky arrested in Italy [45:00]: Becky’s advice for the next Generation of turnaround leaders 🔑 Key Takeaways: ● While restructuring often focuses on capital structures and liquidity, Becky emphasizes the human side of crisis leadership. Communicating honestly with employees, acknowledging uncertainty, and preserving as many jobs as possible are central to responsible turnaround work. For Becky, the day telling someone their job is eliminated stops hurting is the day it’s time to leave the profession. ● Successful restructurings require creativity under extreme pressure. Cases like Kodak showed how turnaround leaders must constantly search for unconventional solutions when time and liquidity are running out. By identifying hidden pockets of value and negotiating complex compromises, such as separating business units and resolving pension claims, teams can create paths to survival that initially seem impossible. ● Effective turnarounds require a disciplined crisis playbook. Becky emphasizes starting with a clear understanding of the business, maintaining constant communication with stakeholders, and aligning management, creditors, and advisors around a realistic strategy. Transparency, liquidity management, and prioritizing what is urgent versus what is truly important are critical steps in stabilizing a company and creating a path toward recovery. 👤 Guest Spotlight: Becky Roof Becky Roof is a former Partner and Managing Director at AlixPartners and one of the most respected turnaround and restructuring leaders in the industry. With decades of experience as an advisor and interim CFO in complex, high-stakes situations, she has helped companies navigate bankruptcies, strategic restructurings, and financial transformations across global markets. Becky also played a key role in building AlixPartners’ Houston office and is known for her ability to step into crisis situations, earn trust quickly, and guide leadership teams through pivotal decisions. Stay Connected: ⁠https://www.macco.group/⁠ ⁠https://www.linkedin.com/in/drewmcmanigle/⁠ ⁠https://www.linkedin.com/in/becky-roof/⁠ Produced by Speakerbox Media.
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    52 min
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