Allied Holdings taps turnaround specialist

March 12, 2002
Allied Holdings, a financially troubled logistics and trucking company serving the automotive industry, has hired turnaround specialist Dave Rawden as senior vp of business process engineering. Rawden will report directly to president & CEO Hugh Sawyer. Rawden previously worked for Jay Alix & Associates, where he was a principal in the firm's turnaround and crisis management business unit. In the
Allied Holdings, a financially troubled logistics and trucking company serving the automotive industry, has hired turnaround specialist Dave Rawden as senior vp of business process engineering. Rawden will report directly to president & CEO Hugh Sawyer.

Rawden previously worked for Jay Alix & Associates, where he was a principal in the firm's turnaround and crisis management business unit.

In the first six months of 2001, Allied posted losses of $24.6 million and narrowly avoided being de-listed from the New York Stock Exchange despite falling below the exchange's listing standards of $50 million in total market capitalization. Allied worked out a deal where it would remain listed with the NYSE, subject to quarterly monitoring, as long as it gets over the $50 million mark by November 29.

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Sean previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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