Information on How Bankruptcy Works

The year is 1997, and the once-strong, 103-year-old Massachusetts-based Perini is staring down bankruptcy. It's burdened by a number of failed real estate deals and a growing, onerous debt load. Enter Ron Tutor of California's Tutor-Saliba, who helps recapitalize the company and refocus operations as a member of the company's board of directors. In 2000, he is named CEO.

To his credit, Perini has thrived under Tutor's leadership. The company today is nearly debt-free, with more than $460 million in cash and investments. It generated more than $250 million of free cash flow in 2007, and has grown revenue at more than 35% annually over the past five years. Perini has won high-profile work in Atlantic City, Phoenix, Las Vegas, and Washington, D.C., with big-name customers such as MGM (NYSE: MGM) and Wynn Resorts (Nasdaq: WYNN).
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