The business world continues to be mostly male-dominated. Even as social conventions have changed, the business world has adapted less quickly than others, even in emerging markets. Many new giants in the marketplace like Twitter, for example, have no women on their Boards of Directors. The long odds of running a multibillion dollar company never intimidated Lynn Tilton, though!
Lynn Tilton is a pioneering businesswoman who is the CEO of Patriarch Partners. Patriarch Partners is an umbrella company that invests in and takes over failing businesses in the United States. Tilton searches for companies that have good ideas and good products, but are failing in the marketplace. With Patriarch Partners, she invests heavily – usually becoming a dominant shareholder in the company – in the failing company and restructures it to make it profitable. Companies that Patriarch Partners has rescued from the oblivion of bankruptcy include Arizona Iced Tea, Performance Design Products, Rand McNally (yes, the famous map company!) and MD Helicopters.
While usually an outsider coming in to “restructure” a company is cause for grave concern, Lynn Tilton does not operate like the stereotypical corporate investor. Instead, Tilton has two very simple philosophies. The first guiding principle she uses to run Patriarch Partners is that social responsibility is not antithetic to having a profitable company. Working hand in hand with that idea comes her absolute belief in the importance of preserving jobs, especially manufacturing jobs, in the United States. With saving American jobs and making U.S. companies profitable as her guiding principles, Tilton and Patriarch Partners have spent ten years saving 150 companies and an estimate quarter of a million U.S. jobs!
Lynn Tilton’s story is, in many ways, a classic “rags to riches” story. While many doors were opened to her as a teenager when she became a nationally ranked tennis player, she pursued her education at Yale where she graduated with a B.A. in American Studies. While attending Columbia Business School, she worked for Goldman Sachs and received a practical education in corporate finance. When her marriage fell apart leaving her as a single mother, Lynn Tilton did not lose sight of her professional goals. Instead, she completed her education, worked one hundred hours a week and provided for her daughter. In that time, she became an expert on distressed debt and developed the philosophies that would allow her to create Patriarch Partners in 2000.
Many traditional powerhouses in the business world have begrudged Lynn Tilton for her untraditional, yet successful, approach to protecting and restoring American manufacturing. But as those old guard businessmen layoff, outsource, or fire workers, and cash in huge bonuses while their companies illustrate less long-term viability, Tilton is helping to save the United States from economic collapse. With Patriarch Partners and Lynn Tilton as the new models for successful enterprises in the U.S., workers here will thunderously cheer, “Out with the old; in with the new!”
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