Trite as the “There’s an app for that” saying has become in the growing cultural and business dominance of smart phones and devices, a new application apparently does exist to quickly help professionals determine the likelihood of a corporate bankruptcy. And it’s coming from a source familiar to veterans of monitoring trends in bankruptcy.
New York University professor Edward Altman, known as the father of the 1968 bankruptcy predicting model known as the “Z-Score,” is up to his old tricks, but in a whole new, high-tech world. Altman has unveiled a new application (or “App” as the tech-friendlies refer to them) for iPhone/iPad, Android and BlackBerry products called the “Altman Z-Score Plus.
The app relies on the Z-score model to determine the likelihood of publicly-traded U.S. company bankruptcies, like the original model from four-plus decades ago, as well as new wrinkles including many private firms, notably in the manufacturing field, and some internationally based outfits, particularly some key ones based in China.
(Note: More on this story in this week’s NACM eNews, available Thursday afternoon).
Brian Shappell, NACM staff writer