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When Jim La Fleur took the helm at GTI, it was a company hovering on the edge of bankruptcy. By using the Altman Bankruptcy Predictor Model in an active way to set strategy, La Fleur was able to return the company to a sound balance sheet. This is a case report of a marriage of an academically developed model and a corporate strategy designed to manage a financial turnaround.
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Altman et al. (1981) studied this question.
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