Praise

“I can make the case that the greatest strength of our economic system is less that it leads inexorably to the best decisions, but rather that it efficiently and fairly resolves mistakes so that capital and talent can be redeployed for growth. Easy to say, hard to accomplish. The ultimate arena is the bankruptcy process, which is Jamie's home court, and where the stakes and emotions run highest. His 'dispatches' will reward the reader with an understanding that most business people don't think about until it's the only thing that matters.”

“Jamie Sprayregen is the greatest bankruptcy dealmaker of the past generation, and he created and led the top restructuring law practice in the world. This alone would make The Upside of Downside essential reading for anyone interested in modern American business history. But rather than simply recount his rise, Sprayregen distills ten often-surprising leadership and career advancement lessons from his decades in the elite turnaround business, illustrating them with unforgettable stories and with pithy quotes from his hero Winston Churchill, himself, and others. It’s a book you can read in a single sitting, and a book that may stay with you for a lifetime.”

“Jamie Sprayregen is the most accomplished corporate restructuring attorney ever. Jamie is to corporate reorganizations what Hank Williams was to country music; what Bach was to classical music; what Babe Ruth was to baseball; what Michael Jordan was to basketball. I only wish I’d had The Upside of Downside to read when I was a young, aspiring corporate reorganization attorney. It is a veritable how-to manual on striving for, building, and achieving professional success beyond all imagination, doing so with integrity, treating others well, and having a blast all along the way. I will be recommending The Upside of Downside as required reading for all of my students. And for future academics studying the history of corporate reorganizations—25, 50, 100 years from now—The Upside of Downside is a riveting ethnography from the central figure in the corporate reorganization ecosystem of this era.”

“My business partner, Bill Grube, and I were Jamie’s very first client. Early on, I wrote a letter to Kirkland’s managing partner saying his fee was too low—and that Jamie was a special case who needed to make partner quickly. Forty years later, I’m fortunate to still call myself both a client and a friend. Over that time, I’ve developed tremendous respect for Jamie, not only for the professional he is but for the person he is. Now I can add ‘author’ to that. Jamie has taken the wisdom and perspective that come from a lifetime of experience and put them into a book that has something to teach all of us. There are lessons here about failure, certainly—but even more importantly, about what we do with success.”

“In The Upside of Downside, Jamie Sprayregan highlights key principles for achieving success and turning failure into a positive outcome: being honest with yourself, being truthful with your team and counterparts, and always keeping your word to friends and adversaries alike. As you navigate life and business, self-honesty helps prevent repeating the mistakes that lead to failure. By staying truthful and dependable, you earn respect and demonstrate that you are a trusted partner. reflects the journey Jamie and I shared. His team represented United Airlines in one of the most complex bankruptcies in history. In contrast, my team represented tens of thousands of Machinists Union members on the other side of the table. Ultimately, we achieved what many thought impossible. In the end, we gained mutual respect and a relationship that has lasted far beyond the negotiation table.”

“I have benefited from Jamie’s wisdom, kindness and friendship since he helped us complete a successful restructuring of the United Artists and Regal cinema companies over 25 years ago. I have never met anyone who works so intentionally to deliver extraordinary personalized client service and develop creative settlement strategies within a very complicated area of law, before the uncertainties of the bankruptcy court room result in higher fees and a less favorable outcome. This book is typical Jamie… completely transparent and unselfish about sharing his wisdom with the next generation, and should be required reading for anyone in business or young people thinking about a law or investment banking career. There is no one that I would rather have by my side.”

“In business, politics, and life, the problems you encounter are rarely just about the issues on the surface. Success requires understanding the people involved and an ability to navigate the complex dynamics and tensions that sit beneath the surface. Jamie gets that, and his deep appreciation for what it takes to build and sustain relationships jumps off the pages of The Upside of Downside. Anyone in a role where they need to work effectively with others—which is to say, everyone—will find something of real value in these pages.”

"Strategic vision is what sets Jamie apart from most restructuring professionals. That vision is a result of his own intelligence, listening to others, soliciting ideas, a constant desire to learn, a willingness to make decisions, and the sole agenda of obtaining the best result. Over 40 years, Jamie has not changed. Clients find comfort in his endless desire to stay focused and find the best possible solution for the situation, no matter how much effort is involved. This book is Jamie sharing, as he often does, what he has learned and the best ways to apply that knowledge to obtain an optimal result. A must read."

“Walking into a room with Jamie on our team always gave us the best chance for a solution. His presence in the room always meant we were able to be heard and respected. Jamie’s ability to open doors in the highest echelons of business could have only occurred because of the high regard and trust he had earned during his long and successful career. During the bankruptcy of Lehman, we were often at odds with our counterparts across borders but with Jamie’s deep understanding of the different laws and protocols across different jurisdictions, we were guided to win-win solutions across a minefield of conflicting creditor interests. Jamie’s calmness and astute thinking in difficult and tense discussions was often the difference between a result and failure. This book encapsulates the power of being trusted and having real relationships amongst peers, which is the base of the success of Jamie’s career. It provides wonderful lessons for readers of this book to aspire to.”

Praise from clients, colleagues, adversaries, and thought leaders around the world

International

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