Abstract
The American economy is in a state of turmoil. Prominent firms are in serious trouble in industries such as steel, machine tools, fasteners, meat packing, textiles, cranes, copper, shipbuilding, farm machinery, and railroad products. Troubled companies are not usually destined to fail; a successful turnaround is frequently possible. However, the successful turnaround doesn't just spontaneously happen; proper management is the key to achieving this goal.
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