A One-Stop Shop Solution to Plant Closings

'Closing Up Gracefully is the Goal of the Plant Closing Solutions Consortium

Boca Raton, FL (PRWEB) February 15, 2005 -- Edmond L. Prins CEO of Idled Assets Group (www.idledassets.com/pcsc.html) announced the formation of the Plant Closing Solutions Consortium (PCSC) to assist senior management of companies with the tough process of plant closings and downsizings. The consortium combines the talents and experience of Idled Assets Group, Synapse Risk Management, Brickell Realty Advisory Services, Compass Career Management Solutions to create a unique and singular comprehensive service that corporations can use to close up gracefully.

Historically, plant closings have been handled on a decentralized basis without a unified internal corporate structure." said Prins. The consortium seeks to help corporations integrate the needs of the corporate stakeholders with the needs of the affected stakeholders. The individual companies have come together to address outplacement and contingent liabilities such as environmental impairment, equipment, planning, finance and real estate.

Robyn Crigger, CEO of Compass Career Management (www.compasscareer.com) said, I realized outplacement was only a part of downsizings and plant closings and I knew when we started down this course we had a product no one offers to corporations today." Plant closings are usually broken down into real estate; the equipment and labor are handled on individual tracks. We believe that our clients will benefit financially, time-wise and on a public relations basis by putting all of the blocks together into a cohesive business plan for execution," added Chris Beck, CEO of Synapse Risk Management (www.synapseriskmanagement.com), a leading environmental impairment insurance and risk management firm.

PCSC will immediately market its services to the senior management of large corporations and through its combined marketing efforts will for the first time ever create and execute integrated solutions to the often contentious and lengthy plant closing process. The goal is to close up gracefully and exit a location in a manner that returns the assets to economically contributing members of the community. Experience, industry knowledge and integrity characterize the members of the consortium.

About the companies:

Idled Assets Group (http://www.idledassets.com/pcsc.html) is the pre-eminent plant closing firm. Our area of expertise is assisting senior management of Fortune 1000 companies and communities with the effects of plant and military base closures. Specifically, IAG creates and most importantly executes Managed Exit Programs. These programs are designed to help IAGs clients deal with closing or closed locations in a manner that will reduce or eliminate contingent liabilities and generate financial return and positive community relations. Edmond L. Prins (mailto:eprins@idledassets.com), CEO of Idled Assets Group has over 24 years of experience pioneering asset-based investment management while working at Lehman Brothers, Security Pacific Capital Markets Group and Price Waterhouse. He has assisted clients like Schlumberger, Bethlehem Steel, Sunbeam and over 100 of the Fortune 1000 companies execute programs that go beyond the real estate assets.1.877.72.IDLED

Brickell Realty Advisory Services is a boutique real estate advisory services company working with large corporations on their surplus real estate. Norman Brickell, principal has spent his entire professional career advising corporations on strategies to manage their real estate. As a former senior executive of wholly owned subsidiaries of Lehman Brothers and Metropolitan Life, Brickell was engaged by companies like Citibank, American Express and Bertlesman, AG to assist them with real estate strategy.305.281.3504

Synapse (http://www.syapseriskmanagement.com) is comprised of a family of companies working synergistically to create value utilizing integrated liability and risk management strategies. Through mergers and acquisitions, many corporations are left "holding the liability sheet" on properties that they no longer utilize. Many of these properties remain abandoned, and offer no real value to the corporation or community. Without incentives, these properties remain on their reserves until either regulatory agencies mandate action, or a developer steps forward to revitalize them.

Compounded by the increased liability reporting requirements resulting from the Sarbanes-Oxley legislation, and the potential damage to the corporate "brand" resulting from the negative perception being associated with these properties, many corporations may determine that effectively managing their environmental liability issues today can help realize long-term corporate viability in the future.

Synapse can use a number of risk management tools to facilitate property restoration and redevelopment of legacy properties. For example, through environmental liability transfers, corporate reserve accounts can be reduced, cash flow increased, and properties returned to tax rolls creating new jobs and economic opportunities for communities. ((866) 220-4665)

For over fifteen years, Compass Career Management Solutions, LLC.- Oi Partners Inc. (http://www.compasscareer.com) has provided a variety of outplacement and human resource related services. Each of these core services is truly customized to meet the specific needs of the company and participating individuals. When necessary, we design entirely new programs to meet your specific needs. This unique approach insures a highly effective and successful process. (800) 215-6410

Contact:

Edmond Prins

Idled Assets Group

561-852-0257

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