When ailing companies are on the brink of collapse, the biggest question that owners have is whether a turnaround effort is worth shedding their blood, sweat or tears. The direct stakeholders, that is, the employees, the labour union and the ancillary units’ employees believe that a turnaround is always possible?all that is required is a change in management. The indirect stakeholders, that is, the shareholders and the lenders will be sceptical and wonder whether further resources should be showered on an under-performing company. Their preferred option is to get their money back by liquidating saleable assets, even if it is only 10 cents to the dollar. This book explains how smart managers unlock the value of hidden or neglected assets to successfully turn ‘basket’ cases around. Using residual values of a company’s ‘under-valued’ assets, the book helps in tapping the existing resources and proposing a ‘frugal turnaround’ approach rather than just pumping money or changing top leadership.