CENVEO INC. — REBUILDING WINNERS

But long turnaround times are not a luxury that franchise-building specialists like Burton can enjoy; however, his “courtship” of Cenveo provided a little prep time to decide how things were going to be done. As was the case at Moore Corp., Burton had to act quickly.

Similar Situations

“There are a lot of similarities between the turnarounds at both Moore and Cenveo,” Oliva points out. “These were companies we inherited that were misdirected and whose costs were out of line. We had to act quickly because the patience level of the investor community is the next quarter. Especially when you’re shutting down a number of facilities, you want to get through the devastation stage and quickly get into the rebuilding stage. That’s when you see the morale of your people turning around and everyone starts embracing the growth stage of your business. There have been many cases where employees have said to me, ‘You’re making the right decision...I’m just sorry that I’m not part of it.’ ”