Yake & Associates, Inc., is dedicated to combating the financial risks that exist in business today.

 

As businesses and organizations attempt to flourish, their risks escalate. Our firm has become particularly focused on the pervasive "business abuse" practices that place investors at inordinate risk and rob shareholders of value.

 

History

Accomplishments

Clients & Significent Engagements

 

YAKE & ASSOCIATES, INC.
A BRIEF HISTORY
 

Yake & Associates, Inc., is a discreet incident-management firm that specializes in shareholder protection, loss control, corporate governance, and asset protection in the retail industry.


The firm was founded in 1988 and now operates offices in the Northeast and Midwest. The practice was launched initially as an executive search firm, finding suitable candidates to solve the complex business issues facing troubled and/or expanding retail companies.

 

As a result of Thomas Yake's advocacy work for shareholder protection and corporate governance issues, the firm has evolved to its present focus as a discrete incident-management firm. Our clients include institutional investors, law firms and the United States Government/Internal Revenue Service.

 

Yake & Associates, Inc., is dedicated to combating the financial risks that exist in business today. As businesses and organizations attempt to flourish, their risks escalate. Our firm has become particularly focused on the pervasive "business abuse" practices that place investors at inordinate risk and rob shareholders of value. We specialize in issues of inventory shrinkage, an obscure measurement that has become a vehicle for abuse and a contributing factor in the huge number or retail business failures.

 

We recognize a company's ability to succeed is directly related to the way it is governed and managed. Corporate governance is only as effective as those who are hired for key management positions. Yake & Associates, Inc., is the only consulting/executive search firm in the world that provides a complete panoply of services designed to ensure the protection of retail boards of directors, shareholder value and the mitigation of risk for all equity participants/stakeholders.

 

A TIMELINE OF OUR ACCOMPLISHMENTS – YEAR OVER YEAR

 

Yake & Associates, Inc., was founded in 1988 to specialize in offering consulting services to troubled and/or expanding retail companies. In 2005 we adopted a new name: Integrity Management Corporation.

 

Our client list and references speaks better for our accomplishments than we can. But what follows is a brief timeline summary of our history:

  1. By 2004 we had been engaged to conduct over 1,500 executive search assignments.
  2. By 1996 we had been retained by every Big Six accounting firm; and today we maintain working relationships with three of the Big Four firms.
  3. Over the past 20 years the firm has been routinely engaged by some of Wall Street’s most prominent law firms and served as experts for the United States government and its enforcement agencies, including the SEC and the IRS.
  4. We have written two opinions to the United States Tax Court about the issues that affect managing, controlling, and accounting for inventory in the retail industry.
  5. We have consulted to some of the most notable retail bankruptcies and in the process began acquiring an understanding for the non-economic issues that led these businesses to fail.
  6. In 1997 we were retained by Deloitte & Touche and the owner of 7 / Eleven, the Southland Corporation for one of the most innovative and successful inventory engagements to date: Predicting inventory variances in over 3,000 convenience stores nationwide at an accuracy rate in excess of 94%.
  • Starting in 1998 we began offering consulting services to a select group of institutional investors. The foundation of this practice area was built upon the notion that retail business failures can be predicted and prevented by analyzing every day business practices and we developed a methodology around that foundation.

Our investigative research has been proven unique for one specific reason: It offers a holistic approach to independent research and corporate governance. There are many firms that offer forensic accounting services as tool for institutional investors to rely upon. But, we believe that forensic accounting was merely one tool—and a thorough analysis demanded a holistic approach—and that required a more complete toolbox.

 

Furthermore, we knew from our experience in the retail industry that forensic accounting might miss the more significant indicators that exist in the retailing, because the financial events or metrics are too easily manipulated or concealed. Therefore, we developed our own brand of analysis by blending industry knowledge with forensic accounting and coupling it with business intelligence in real-time. In that manner we were able to bring a holistic solution to the marketplace.


We recognize that a company's ability to succeed is directly related to the way it is governed and/or managed. But, corporate governance is only as effective as those who are hired for key management positions. Yake & Associates, Inc., is the only investigative consulting and executive search firm that provides a holistic approach to the problems that plague corporationsby offering a complete panoply of services designed to ensure the protection of shareholder value, the institutional investor, and the mitigation of risk for all equity participants / stakeholders.

 

YAKE & ASSOCIATES, INC., CLIENTS & SIGNIFICANT ENGAGEMENTS

 

I. Chapter 11 Reorganization Work (Shrinkage Consulting & Investigative Services)

  • Ames/Zayre
  • Revco D.S.
  • Stuarts
  • Channel Home Improvement
  • Grossman's Home Improvement
  • Best Products
  • Caldor / Creditor’s Committee

II. Litigation Support

  • United States v. Dayton Hudson and Dayton's Department Stores (Worked for IRS/Unites States)
  • United States v. Target and Mervyns (Worked for IRS/United States)
  • United States v. Wal-Mart (Worked for IRS/United States)
  • United States v. Fabri-Centers (Worked for SEC/United States)
  • Shareholder Derivative Action v. F.W. Woolworth (Worked for the Shareholders)
  • Shareholder Derivative Action v. Caldor (Worked for the Shareholders)
  • Shareholder Derivative Action v. Leslie Fay (Worked for the Shareholders)
  • Shareholder Derivative Action v. Egghead Software (Worked for the Company/Egghead Software)
  • Roberts v. Safeway (Worked for the Company/Safeway)
  • Bondholders v. Arthur Andersen in the matter of Styling Technology Corporation (Worked for the Shareholders)

III. Retail Consulting & Executive Search Engagements

  • Ames
  • Jamesway
  • Marshall's
  • Barney's of New York
  • Best Products
  • Filene's Basement
  • Famous Footwear
  • Southland Corporation (7/Eleven)
  • American Greeting Cards
  • Payless ShoeSource
  • Channel Home Improvement Centers
  • Egghead Software
  • Consumers Distributing
  • Flooring America
  • Mervyns
  • Kroger
  • Safeway
  • The Gap
  • Pathmark Stores
  • Modell's Sporting Goods
  • Bath & Body Works
  • Rubbermaid

IV. Accounting Firm Clients:

  • Deloitte & Touche
  • Ernst & Young
  • K.P.M.G.
  • Clifton Gunderson

 

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Yake & Associates, Inc.    •     Email    •     207-985-6320    •     P.O. Box 42, Kennebunk, Maine 04043