Information Systems Development
Banking and Business Consulting Services for Software Developers
an investment banker he has recently raised $6 million mezzanine financing for
Edmin.com, a pioneering educational administrative software developer. For
the Pasadena Angels and T&Co has lead the due diligence evaluation of seed
round financing of computer software developers. Strategic planning and financial
planning were provided for Data Harbor, a Chicago based medical data information
management software developer.
Software and MIS Development and Financing Activities
technology has been an important tool for Thornburg’s from the inception
of his career. He holds a masters degree in quantitative analysis and has
authored many pioneering computer programs and computer based systems. Thornburg
started programming computers in 1962 as part of the operations research work
connected with university studies in industrial engineering and upon joining Parsons
was part of a think tank operation for applying computers to large scale engineering
and construction management programs. He has been a pioneer in developing
large scale computerized project and company valuation models. Prior to
the advent of personal computers he created a project finance modeling system
that was used by some of the largest
US companies including Gulf Oil, Standard Oil
of Indiana and CODELCO the Chilean national copper company. He co-authored
the Financial Analysis section of the American Society of Mining Engineers’
Surface Mining Handbook. At Security Pacific he designed the data
base systems used to track $6 billion commercial paper financing business of third
party utility fuel trusts including calculating fuel usage costs at 38 nuclear
reactors owned by the Tennessee Valley Authority. In his turnaround career
he has developed computer assisted forensic techniques to uncover fraud at two
companies and has been instrumental in developing sound MIS procedures for small,
medium and large companies as described below.
Development - Bridgewater Resources Corp.
AG, a Luxembourg based holding
company, formed Bridgewater
commercial farms and real estate property in the
The acquisition of Connor Forest Industries, Inc. transformed the
group from passive investments into a major manufacturer with logging operations,
lumber and flooring mills, furniture and kitchen cabinet manufacturing facilities
and a toy business. Management was
not up to the challenge and large operating losses soon developed.
had twenty manufacturing, forestry, real estate and farm subsidiaries. The forest
products group, Connor Forest Industries had four mills (union and non-union)
and 159,000 acres of timberlands. Thornburg
joined Bridgewater as a Director to develop a
comprehensive strategic plan for restructuring
Bridgewater focusing on core manufacturing businesses;
and later became CEO. Over the next five years the emphasis moved from restructuring
to improving industrial operations, information systems, product development and
marketing. The sports flooring division
captured 40% of the U.S.
market and productivity was improved by 50
to 200% in key subsidiaries. The remaining non-industrial assets, including the
toy company, were divested. A large
chain manufacturer with an excellent niche market was acquired and its
business expanded by 50%.
management information systems including EDI and supporting distribution facilities
were developed for each BRC subsidiary. Customers included Sears, K-Mart, Toys
"R" Us and Wal-Mart (where BRC maintained its sole supplier relationship
for chain products).
Hong Kong and
The Schmidheiny group (Anova, AG) purchased a controlling interest in the
$1.5 billion Cosa Liebermann Group (CLG), an industrial and consumer products
marketing group with operations in seven European countries and twelve Asian countries.
Four years later CLG merged with Hagemeyer Asia/Pacific, the Far
East activity of Hagemeyer, N.V., a very large Dutch-based marketing
company. The resulting new entity, The Hagemeyer-Cosa Liebermann Group was owned
50/50 by Hagemeyer and Anova and had operations in fourteen Asia/Pacific countries.
The Chairman and CEO came from Anova.
Technology Division strategic business areas included:
and Printing Technology
and Food Processing Technology
and Control Technology
The Consumer Goods Division strategic
business areas included:
(sports shoes, winter equipment, outdoor
Products (appliances, electronics and house
(fashion, cosmetics, watches, leather accessories,
(photography and imaging products and services)
and Beverage (wines, spirits, tobacco confectionery)
products included Bally, Karl Lagerfeld, Louis Feraud, Porsche Design, Cartier,
Chanel, Puma, Ray-Ban, Parker, Mistral and Kneissl.
Integration Advisory Services
Thornburg served as a principal advisor to the Schmidheiny group on
the development of new management information systems for the newly acquired Cosa
Liebermann Group. Prior to the implementation of the system, the local company
in each country had its own accounting system and procedures at the operating
level. Computers and systems were not networked across borders and operating systems,
particularly in Japan
where there extensive retail and wholesaling operations, were incompatible.
As a result the primary means of inter-company communication was by fax and telephone.
Results by division and product were laboriously consolidated and summarized in
Hong Kong resulting in unacceptable time delays
and errors. Inventory management and cash management was Balkanized and ineffective.
MIS project involved the establishment of a comprehensive, multi-discipline approach
to sales planning, budgeting, financial reporting, purchasing, logistics, cash
management, accounting, taxes, retail sales, wholesaling and industrial customer
sales. To assure ownership of the new systems, at critical points in the development
process two dozen selected top and middle managers met in week-long brainstorming
sessions with the advisory team in
Phuket , Thailand
where interruptions from the outside world were all but impossible.
When completed, the system allowed management to review its operations by item,
product line, division and country in a timely manner. Extensive training in each
country preceded the roll-out of key elements of the system. Data centers were
established in Hong Kong and Zurich
and an internal email system was established to link
all of the offices and operations together. Satellite communications were used
where local telephone service was inadequate. Rather than build a customized MIS
system from scratch to control retail, wholesale and financial reporting activities,
packaged software vendors in Europe, the US
and Asia were reviewed and visited by CL teams.
The software integration team was moved from the headquarters in Hong Kong to
where there was a larger pool of skilled programmers. Ultimately
several major software systems were selected and integrated to form the core of
the new system, which performed as intended.
Pacific Capital Markets Group, Inc.
Thornburg was a founding executive when
the Group was created de novo in with a charter to build an independent financial
service subsidiary of Security Pacific Corporation, then the seventh largest U.S.
bank holding company. Through internal growth and eight strategic acquisitions,
it grew from a start-up with five employees, to 900 employees in 15 offices in
Australia , South America and the
United States .
for creating and managing the Project Finance Group (included leasing, banker’s
acceptance and commercial paper backed financing). Clients included natural resource
companies (Gulf Oil, Cyprus Mining, Standard Oil of Indiana, CODELCO Chile, Great
Basins Petroleum Corp.), paper companies (Jefferson Smurfit), utilities (Central
Hudson Gas & Electric Co.) and independent refineries (eight West Coast based
companies). Co-authored the Financial Analysis section of the American Society
of Mining Engineers’ Surface Mining Handbook and developed advanced
project finance computer modeling systems and commercial paper trading systems.
Ralph M. Parsons Company
working seven years with increasing responsibility in the Mining and Metallurgical
Division, moved to corporate headquarters to assume responsibility for the Company’s
international finance and project financing activities worldwide. As one of the
worlds' largest engineering/construction companies Parsons had 26,000 employees
and had completed projects in more than 105 countries. Four corporate divisions
served its major markets: Petroleum and Chemical (major refineries, chemical and
gas processing facilities including the $8 billion North Slope gas gathering and
processing project), Mining, Power
and Systems (defense projects, airports, and large scale industrial projects
such as master planning the multi-billion dollar industrial development of the
High Plateau in Algeria and the $20 billion Yanbu industrial complex in Saudi
Arabia). Was responsible for negotiating international project finance matters
with private clients, banks, export credit agencies (
U.S. , U.K.
, France ,
Germany , Italy
and Japan ) and governments
(among them Algeria ,
Iran , Saudi Arabia
, Peru , and
Chile ). Extensive international
travel was required, particularly in Central and South America, Europe and
North Africa .
and Metallurgical Division Positions: Manager Business Development,
Manager Pre-Contracts, Administrative Assistant to Division Manager, Project Engineer
the Mining and Metallurgical Division started work in a think-tank group developing
then state-of-the-art computerized engineering design and management systems before
moving to increasing responsibility in project management, division management
and business development.