Good afternoon- I received this email from Bobby Guy, a well respected Insolvency Lawyer in the mid west.  bobby.guy@reports.distressindex.com

Interesting reading and review.  Thanks Bobby


We thought you’d be interested in the 3rd Quarter Report for the FBT/TrBK Distress Indices. Distress in the healthcare services sector has increased 38% since 2010, while real estate and overall distress figures are down significantly.

To see the current report, click here or go to www.distressindex.com.

Cheers –

Bobby Guy

Robert Dempsey
Disclaimer: The FBT/TrBK Distress Indices are research indices. The indices and information contained herein involve assumptions, compilations, and analysis, and there can be no assurance that the information is error-free. FBT Financial Indices, LLC, Frost Brown Todd LLC, TrollerBK.com, and their members, associates, staff, advisors, and agents shall not have any liability for any information contained herein, including any errors or incompleteness. The contents of this publication are not intended, and should not be considered, as accounting, tax, investment, or legal advice. Further, this information is not intended to and does not provide a recommendation with respect to any security or investment strategy, and any discussion of particular topics is not meant to be comprehensive and may be subject to change.

Apple Will Sell 72 Million iPhones — But Then See A Massive Drop In Demand

iPhone 6 PlusFlickr/Omar Jordan FawahliPhone 6 shipments will soar in Q4.

According to KGI Securities analyst, Apple is forecast to sell 71.5 million iPhones in Q4, Apple Insider reports.

KGI’s Ming-Chi Kuo — who has a good record as an Apple analyst because of his sources in Apple’s supply chain — says quarter-over-quarter shipments of the smartphone will grow 82% in Q4, and predicts the iPhone 6 will head the surge.

Apple Insider explains the iPhone 6 will likely make up nearly 60% of all sales over the period, quoting a figure of 41.65M units. The iPhone 6 Plus will not perform quite as well though. Apparently suppliers are having production issues with the larger phones, and Q4 sales are dependent on the supply chain.

After strong sales over the festive season, Kuo expects iPhone sales to fall dramatically to a combined 49.5 million units as off-season demand reduces. Q1 sales always tend to dip after the Q4 holiday buying season. 9to5Mac believes demand will eventually settle at a 2:1 ratio favouring the 6 over the 6 Plus. It’s worth noting the drop in quarterly sales would still be a big jump year-on-year; if Apple sells that many phones, it will be up 13%.

Kuo says older models, such as the entry-level iPhone 5C and iPhone 4S, will be discontinued in 2015 in favour of the 5S. Until that happens, promotional pricing on all those lines will reduce the average sales price of iPhones in Apple’s lineup. The iPhone 5s could eventually become free on contract, Kuo says.


San Francisco, November, 2014
Successful “Date Certain M&A” of AxioMed Spine Corp. it Assets and Intellectual Property
Steven R. Gerbsman, Principal of Gerbsman Partners, Kenneth Hardesty and James Skelton, members of Gerbsman Partners Board of Intellectual Capital, announced today their success in maximizing stakeholder value for a venture capital and senior lender backed spine medical device company.

Gerbsman Partners provided Crisis Management and Investment Banking leadership, facilitated the sale of the business unit’s assets and its associated Intellectual Property. Due to market conditions, the board of directors and senior lender made the strategic decision to maximize the value of the business unit and Intellectual Property. Gerbsman Partners provided leadership to the company with:

1.  Crisis Management and medical device domain expertise in developing the strategic action plans for maximizing value of the business unit, Intellectual Property and assets;
2.  Proven domain expertise in maximizing the value of the business unit and Intellectual Property through a Gerbsman Partners targeted and proprietary “Date Certain M&A Process”;
3.  The ability to “Manage the Process” among potential Acquirers, Lawyers, Creditors Management, Advisors and the Receiver;
4.  Communicate with the Board of Directors, senior management, senior lender, creditors, vendors and all stakeholders in interest.
About Gerbsman Partners

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 87 Technology, Life Science, Medical Device, Solar, Fuel Cell and Digital Marketing/Social Commerce companies and their Intellectual Property and has restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, Boston, New York, Washington, DC, McLean, VA, Europe and Israel.



Cell: +1 415 505 4991
Email: steve@gerbsmanpartners.com
Web: www.gerbsmanpartners.com
BLOG of Intellectual Capital: blog.gerbsmanpartners.com

Article cover image

Beth Seidenberg

Partner at KPCB

You Should Share Your Health Data: Its Value Outweighs Privacy Risk

From genome-based therapeutics and diagnostics to pulse-monitoring smart watches, health data is transforming medicine.

But it is also alarming patients, who—aware of the recent cyber-attacks against Target, Home Depot, and JPMorgan that stole personal data from millions of people—are scared that their privacy will be invaded.

Our health data is our most personal asset. Why, in the midst of all of this, should we continue to share it?

Health Data in the Digital Era
First, the law: Health care privacy and security is governed by the Health Insurance Portability and Accountability Act (HIPAA), which limits disclosure of patient data and mandates secure storage and transmission of electronic records. Anybody who violates HIPAA faces civil and criminal penalties. So the law ensures that providers and health plans take steps to protect your health data and that you retain important rights over how it is used.

Today, de-identified data that you share is driving the most important advance in medicine: population-based data discoveries and tools to manage our health, wellness, and diseases.

The signs of digital medicine are everywhere: Four out of every five office-based physicians use electronic health records. The government is releasing new population health data. And the 85 percent of buyers of new handsets who are selecting smartphones will expect to access personal health data on their devices.

We know that health systems charged with keeping this data private have struggled. A cyber-attack this year on a Tennessee-based hospital system, for example, accessed the data of 4.5 million patients. A single hacker penetrated HealthCare.gov this summer. And the industry of collecting and selling personal health data keeps getting bigger.

These problems are real, and we have to solve for them. But they should not impede the advances in health care on the horizon. The next big breakthrough in medicine could develop because you shared your health information. All of us—patients, providers, and entrepreneurs—have a stake in making this happen.

The Patient Perspective
Patients should first understand just how much they benefit when providers and researchers can access their health data electronically in real-time. Your data helps your physician manage your health by providing ongoing, longitudinal, and integrated access to your information within and across providers. Pharmacists will have quick insight into all of the medications you are taking and how they interact, reducing the prescription errors that cause so much damage.

Moreover, population-based de-identified patient data has already produced advances against such diseases as obesity, diabetes, hypertension, and heart failure. Given that five percent of the U.S. population accounts for half of health care costs, population data lets researchers tackle the most vexing problems in medicine. By opting in and sharing your data, you promote the research breakthroughs that can one day improve your own health and help people who are suffering from similar health issues.

But patients have to watch out for the marketing and data brokerage firms that trade in health information and that, as the Federal Trade Commission noted, “operate with a fundamental lack of transparency.” Consider the purpose before you provide personal information to entities not covered by the HIPAA laws that apply to physicians and researchers. Patients should also check if the devices that they are using to track their health information are HIPAA-compliant. In this new era of the quantified self, ask first before uploading data from an unknown source.

The Provider Perspective
Providers today are using electronic tools to schedule appointments, receive ongoing patient metrics, customize treatments, and communicate via telemedicine. The tools, by improving access to patient data, save time, save money, and enable providers to deliver better care.

This matters because the world of fee-for-service is evaporating. In the new era of value-based care demonstrated by the rising number of Accountable Care Organizations (ACOs), these digital tools will be critical for your livelihood as a provider and you will want to embrace them.

But you also must institute advanced security protocols for the data that you use. While all hospital systems have general compliance functions, they need to prioritize these efforts. At Beth Israel Deaconess Medical Center, for example, officials encrypted devices, tightened access to cloud-based services, and strengthened network access controls after several data breaches.

Beyond the significant direct costs that arise from a breach, providers who want patients to continue to provide data for treatment and research must show that they will protect the data. Providers should teach patients how to protect their own data as well.

The Entrepreneurs’ Perspective
There has never been a better time to be an entrepreneur interested in changing health care through the use of digital technology and tools. We are even seeing patients and their parents taking steps themselves to improve the software and data capabilities of the medical technology that they use. But to be successful in this space, you need to know what you do not know.

In addition to HIPAA, entrepreneurs should know the evolving definition of what the Food and Drug Administration will regulate. Apps that are used for diagnosis or that provide a therapeutic recommendation may fall under FDA purview. But do not let these regulatory burdens intimidate you: our health care system needs your creative and altruistic instincts.

What you do need to do is respect the nature of the data, remembering that it’s not just data on the buying preferences of a consumer but data that can save a life. Apple, for example, has instituted new privacy and security requirements for health apps in its App Store even though HIPAA may not apply to user-generated data on mobile health apps. Empathize with consumers and earn their trust.

A New Age of Medicine
Until recently, as my colleague John Doerr observed, there was “more information technology in your average grocery store than in your doctor’s office.” Now, digital technology is here to stay.

But if we truly want to enable the breakthroughs and behavior changes that will transform our health, we must be willing to share our most personal asset: the data about our lifestyle, state of health, and disease.

The privacy laws are not perfect. No system is fail-safe. More breaches will happen. But let’s not let the perfect be the enemy of good. Big data will enable you to make better decisions and, at the population level, will lead to new insights, new discoveries, and better health for everyone.

Sharing your most personal asset may be the best decision of your life.


RAOUL PAL: Bitcoin Is Worth $1,000,000

Raoul PalReal Vision Television Raoul Pal

“I did some analysis a while ago,” Raoul Pal said. “[It] was to try and create a valuation framework that gives some value to bitcoin because nobody really knows that it’s worth.”

Pal, a former global macro fund manager and current author of the Global Macro Investor newsletter, is talking about the bizarre digital cryptocurrency that saw its value surge north of $1,200 a year ago.

“So I said OK well let’s assume it’s something like gold—There’s a finite amount of it,” Pal said in an interview with Grant Williams on Real Vision Television. “There’s a finite amount that’s been mined. The rest is underground. We kind of know how long it’s going to take before all the gold is mined or before all the bitcoins. Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you’ll never hear an analyst say this—but I don’t mind this—I could be wrong by 90%, and it’s still worth $100,000.”

At the time of the interview, bitcoin was trading around $650. Right now, it’s at around $364.

Bitcoin chartCoin DeskHere’s how bitcoin has traded since July 2010.

One concern people have about bitcoin is the volatility in price swings. Pal said the volatility is fine. He thinks that the upside is “astronomical” compared to the downside.

Right now, bitcoin is still in its infancy and it’s not going to go away because of the amount of people behind it.

Pal expects central banks will have to regulate bitcoin over time, but that’s not a problem.

“What they can’t do is destroy it and that’s why bitcoin becomes incredibly interesting,” he said.

Even though he has a high valuation, Pal doesn’t recommend that people put their entire life savings in bitcoin. He suggested treating it like an option contract.

Buying bitcoin is something Pal strongly believes in, especially because he thinks we are at risk of losing faith in money. He worries about the consequences of central banks are printing too much of it. There’s an unfavorable perception that they’re “rigging” the system by keeping rates low and buying the bond market.

His suggestion is to avoid the bond market.

Pal also thinks that people should be careful about how they own their gold. Because of the proliferation of derivatives and ETFs, gold is just the collateral to a highly-leveraged “monster.” He thinks that it’s best to buy physically unencumbered gold instead of paper gold.

Watch the full Real Vision Television interview below:


from Wikipedia

On Veterans Day we remember those who served and sacrificed with a toast -

“To the memory of those who once were and to the knowledge that they will be in the hearts and minds of their families and loved ones forever”

On Veterans Day we say “thank you” to those who serve today with a toast -

“Thank you for your service and we pray for your health and safety.  May you have courage, be safe and be just”

On Veterans Day we have “HOPE” for the future.

“May our leaders lead, provide support for the troops, provide medical recovery services for the wounded and do what is right and just”

May GOD bless and protect those who serve and on this coming Veterans Day, when you see a service person, go over to them and say “thank you”. 

We live in the “land of the free and the home of the brave”;  never ever, ever, ever forget that “FREEDOM IS NOT FREE”

with Honor and Respect


7 Habits From Navy SEALs That Will Make You More Successful

navy seals

Flickr/Official U.S. Navy Page

Chief Special Warfare Operator (SEAL) Brad Woodard salutes as he jumps from an aircraft during parachute training.

I learned my best habits — and made some of my most dangerous mistakes — as a Navy SEAL.Once, when our platoon was preparing for a mission at one of our shooting ranges in Iraq, I had failed to reload one of my pistol mags after the previous night’s operation.

Our point man, the best-selling author of No Easy Day (under the pseudonym Mark Owen), discovered my mistake. To this day, I still think about the look of disappointment on his face.

The experience drove home the importance of good habits. The term habit generally has a negative connotation, but if you form the right habits that drive you toward success, you can’t lose. To be an effective team member, people usually need to break old habits and develop new ones by letting selfishness fall by the wayside. The SEAL community forces you to break habits that don’t positively contribute to mission success. If you can’t make that happen, you’re done.

I’ve gotten these habits right, and I’ve gotten them wrong. But those mistakes of yesterday have forged me into a better leader and team member today. If you want to be part of an elite team and are going to shed old habits, make sure to keep these!

  1. Be loyal. Team loyalty in the corporate environment seems to be a dying philosophy. Loyalty to the team starts at the top. If it’s lacking at the senior executive level, how can anyone else in the organization embrace it? Loyalty is about leading by example, providing your team unconditional support, and never throwing a team member under the bus.
  2. Put others before yourself. Get up every day and ask yourself what you will do to add value to your team, such as simply offering your assistance with a project. The challenge is overcoming the fear that your team member might say: “Yes, I really need your help with this project…tonight.”
  3. Be reflective. Reflective people often spend too much time analyzing their actions. But imagine if you could harness this talent into something highly valuable? Reflecting on your mistakes, such as mine in Iraq, ensures you never repeat them.
  4. Be obsessively organized. Some of us innately have this ability, often to a fault, and some have to work at it a bit more. You have to find a process that works for you. I’ve known people who will put something on their to-do list after they did it and then cross it off to feel a greater sense of accomplishment! Whatever your system is, make it work for you.
  5. Assume you don’t know enough. Because you don’t. Any effective team member understands that training is never complete. It’s true in the SEAL teams, and it’s true in any elite team. Those who assume they know everything should be eliminated. Those who spend time inside and outside of the workplace developing their knowledge and skills will provide the momentum for their team’s forward progress.
  6. Be detail-oriented. Attention to detail is one of our company’s values. Do we get it right all the time? Of course not. Imagine, though, if all members of a team are obsessed with detail in their delivery? My lack of attention to detail in the incident in Iraq could have had catastrophic results. Don’t ask yourself what you are going to do today to be successful; ask how you are going to do it.
  7. Never get comfortable. Always push yourself outside of your comfort zone. If you do this continually with every task you take on, that boundary will continue to widen. This process will ensure that you are continually maximizing your potential, which will positively impact your team.

You may be wondering how you could ever have a relaxed life if you maintain all of these habits. But that’s the beauty of it. If you enjoy what you do and form good habits, it all becomes second nature. Maintain these habits, and encourage your team members to do the same.


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