Discuss the Company:

2. Located in Cleveland, Ohio

* Mechanical contracting organization, specializing in niche construction assignments in foodstuff and drink manufacturing services. * " Custom-built” contractor, using major stainless steel to make the boats and piping necessary for assembly lines in food & beverage control. * They work on a project-by-project basis, for which it gives you engineering style and structure expertise to its clientele. * Needed relatively little, complex specialized production tools, and most inventory was linked to specific work in progress 5. Thinly capitalized (equity less than debt)

History:

5. The company was incorporates in 1982 by president John Bergner * He did organization with FirstOhio Bank of Cleveland, in which his accounts was handled by Peter Davis and a good marriage was held between them to get five years from 1982 till 1987 * In December 1987, Mr. Davis accepted a brand new position in Westside Countrywide Bank. Positioned in Cleveland 5. Therefore , a brand new loan official was appointed for the organization in January 1988

Present Position:

* Bergner Construction Company had recorded a small net operating profit of $13, 088 (net income of 16502) in 1987 * During the first 4 months of 1988, you can actually completed careers slumped, leading to a decrease of $53, 556 (net loss of 47682) due to problems found on one project, for which a former estimator experienced underestimate a construction expense. (If no single project is definitely excessively prominent, then a reduction on one would not imply that the firm's revenue potential can be significantly affected). * The company enjoyed a sales development rate of 23 percent over the past two years, and projected sales right at the end of 1988 were $1. 3million

Supervision of the business:

* The company's president: Steve Bergner was 40 years of age. * He previously a degree in mechanical anatomist from Kansas State College or university. * Bergner began his career like a...