Written by Schon Condon in August, 2009

Its amazing how the Newsletters are actually missed!! Yes, it has been a while and it has been interesting to note how many people followed up concerned that they may have missed an issue, it is actually quite heartwarming.

Whilst we may have been quiet we have not been idol, there has been much happening. The first and most significant point of note is Robert Kite promotion to Associate with effect from 1 July 2009. Robert commenced his employment with the Firm in May 1995 and, apart from a two year stint in the United Kingdom, Rob has been with us ever since. It is very pleasing to see someone who started with the Firm achieve this level and we look forward to many more.

We have also put a new facarde to our website which has significantly enhanced the visit to the website as well as incorporating a blog which is generally updated on a fortnightly basis. Soon to follow will be new websites for FIT Practitioners and EBIT Management Services Pty Ltd our consulting arm as well as an exciting new education component within Condon Associates, so I do commend you to making regular visits to see what has changed and what is new.

There has been a steady flow of work, but it has been interesting to note the increased contact within the profession concerned about the lower than expected level of work that is being experienced within the market. At a presentation in February I proposed that the current downturn would not last as long as was expected and that we should see a gradual return around the middle of next year. That coupled with the greater degree of tollerance being provided by the ATO and other institutions has created a climate that has slowed the level of actual insolvencies and there are now far more practitioners in the Insolvency and Turnaround space.

Whilst this is positive for the economy we are not out of the mire yet and business owners should be taking an honest and thorough review of their operations to ensure that they have a sustainable advantage. When the tide turns and positive signs become reality then tollerance is likely to disappear rapidly. It would be very disappointing to weather the nightmare storm at sea only to go to the bottom within view of the safety of a port!

Without doubt there remain some interesting times ahead, getting and heading the right advice will be paramount.

In closing it would be remiss of me not to acknowledge the recent passing of a former employee David Watson. David’s sudden passing was I am sure difficult for the family, but I trust he now rests in peace.

Looking forward to a shorter gap to the next “On the Beam,” but in the interim, Enjoy the read.